Atlanta-based insurance brokerage and risk management firm, Beecher Carlson, has joined forces with JBL&K Risk Services, an independently-owned risk management agency in Portland, Ore. Specific financial terms of the transaction were not disclosed; however the consideration for the transaction consisted of a combination of cash and Beecher Carlson stock.
According to Tom Golub, Beecher Carlson president and CEO, the transaction expands Beecher Carlson’s geographic presence to the Pacific Northwest region and represents the brokerage’s entry into the employee benefits market.
The transaction allows JBL&K Risk Services to leverage the national resources and technical expertise of Beecher Carlson. Strategically, the transaction accelerates Beecher Carlson’s growth plan to partner with firms interested in a new and expanded service platform.
“Our decision to partner with JBL&K is consistent with our vision to build the strongest team of industry professionals and continuously deliver superior products and services to our customers that are unmatched in the industry,” said Tom Golub, Beecher Carlson president and chief executive officer. “We will continue to build our company by expanding our national footprint and international capabilities. Above all, we’ll always place the interests of our clients first.”
JBL&K is led by Chuck Floberg, CEO and chairman of the board and Dan Romain, president, both of whom will retain executive positions with the company. JBL&K employs 90 individuals in two offices in Portland and Medford, Ore. All employees will remain with the company and all offices will remain in operation. The firm will continue to conduct business as JBL&K Risk Services.
“There is complete alignment between our business philosophy and that of Beecher Carlson’s,” said Chuck Floberg, JBL&K Risk Services chairman of the board. “Because of this, it made sense to bring our organizations together, which will tremendously benefit our clients, employees and shareholders.”
Dan Romain, president of JBL&K Risk Services, added, “We look forward to a successful partnership with Beecher Carlson. By partnering together, we can continue to build on our 135-year customer-focused legacy of being the finest insurance brokerage in the Pacific Northwest.”
“Joining forces with Beecher Carlson provides JBL&K the opportunity that we have sought to expand our business regionally and nationally,” Bill Mooney, JBL&K manager of the property and casualty division said. “We are all excited about bringing more people, products and services to our clients and look forward to all the opportunities that Beecher Carlson will offer to our employees.”
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