AssuredPartners Inc. has acquired A.J. Lupas Insurance Agency Inc. in Plains, Pennsylvania. Terms of the transaction were not disclosed.
A.J. Lupas provides coverage for individuals, businesses, and life and health insurance products. The firm reports approximately $3 million in revenues.
As part of the acquisition, 23 A.J. Lupas employees will join AssuredPartners. Operations will continue under the local leadership of Gino Bartoli, principal of A.J. Lupas.
Headquartered in Lake Mary, Florida, AssuredPartners acquires and invests in insurance brokerage businesses (property/casualty, employee benefits, surety, MGA/wholesalers) across the U.S. and in London.
Since its founding in 2011, AssuredPartners has acquired more than 75 insurance firms and has grown to approximately $400 million in annualized revenue, with more than 80 offices in 27 states and a London office. AssuredPartners is a portfolio company of Chicago-based private equity firm GTCR.
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