AssuredPartners Acquires CBS Coverage Group in N.Y.

AssuredPartners Inc., through its subsidiary Assured SKCG Inc., has recently acquired CBS Coverage Group Inc. in Plainview, N.Y.

CBS Coverage Group specializes in commercial insurance, employee benefits and financial planning services, and personal insurance. The firm reports revenues of approximately $12 million.

Founded in 1947, CBS Coverage Group is headquartered in Plainview, N.Y., and has additional locations in New York City and Westhampton Beach, N.Y., as well as in Summerville, S.C. As part of the acquisition, 78 CBS Coverage Group employees will join Assured SKCG. Local operations will continue under the leadership of CBS Coverage Group President and CEO Gerry Levy.

AssuredPartners is a portfolio company of Chicago-based private equity firm GTCR. AssuredPartners acquires and invests in insurance brokerage businesses across the United States and in London. From its founding in 2011, AssuredPartners has grown to approximately $325 million in annualized revenue, with more than 80 offices in 26 states and a London office. Since 2011, AssuredPartners has acquired more than 50 insurance firms.

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Topics Mergers & Acquisitions New York