AssuredPartners Inc. has completed the acquisition of Golden, Colo.-based AirSure Limited LLC.
AirSure specializes in insurance coverage, employee benefits and risk management services for businesses in the aviation industry, including commercial operations, corporate aircraft services and helicopters. AirSure Limited reports revenues of roughly $13 million.
AirSurehas additional operations in Plano, Texas. The acquisition marks Lake Mary, Fla.-based AssuredPartners’ entrance into the Colorado and Texas markets.
As part of the acquisition, 35 AirSure Limited employees will join AssuredPartners. Operations will continue out of the Golden, Colo. and Plano, Texas office locations, under the local leadership of Bill Behan, CEO of AirSure.
AirSure Limited will become the eighth AssuredPartners platform entity, joining Neace Lukens, headquartered in Louisville, Ky.; SKCG, headquartered in White Plains, N.Y.; Jamison, headquartered in West Orange, N.J.; Dawson Cos., headquartered in Cleveland, Ohio; SRA, headquartered in Kansas City, Kan.; AHM, headquartered in St. Louis, Mo.; and Commercial Insurance Services, headquartered in Charleston, W. Va.
AssuredPartners Inc. is a portfolio company of Chicago-based private equity firm GTCR. It acquires and invests in insurance brokerage businesses, including property/casualty, employee benefits, surety, and managing general agents and wholesalers. Since 2011, AssuredPartners has acquired more than 50 insurance firms.