AssuredPartners Inc. through its subsidiary AssuredPartners of Minnesota has acquired the Lee F. Murphy Inc. insurance firm based in St. Paul, Minn.
As part of the acquisition, 50 Lee F. Murphy employees will join AssuredPartners of Minnesota. Local operations are based in St. Paul, Minn., and will continue under the leadership of Bob Murphy.
Lee F. Murphy offers a range of insurance and consulting services for businesses and individuals and reports revenues of roughly $8 million. The firm specializes in commercial insurance, including property/casualty, workers’ compensation, cyber liability, risk management, employee benefit programs and personal insurance.
Lake Mary, Fla.-based AssuredPartners Inc. is a portfolio company of Chicago-based private equity firm GTCR, and it acquires and invests in insurance brokerage businesses, including property/casualty, employee benefits, surety, managing general agents, and wholesalers, across U.S. and in London. The firm has more than 80 offices in 23 states and a London office.