AssuredPartners Inc. has acquired Amtech Insurance Brokers in Latham, New York. Terms of the transaction were not disclosed.
Amtech has been providing commercial insurance and risk management services for businesses for the past 22 years. Its industry specialties include construction, welding supply and compressed gas. In addition, the agency has a custom-tailored Drillers Insurance Program for a variety of contractor clients, from water well to environmental to geothermal drillers.
The $2 million revenue agency will continue to operate from its current location under the local leadership of President and Founder Paul Andrews and Vice President Chris McMahon. It will report through Assured SKCG insurance and risk management advisory firm, an AssuredPartners platform company in the Northeast, serving commercial and private clients throughout the U.S. and overseas.
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 grown to approximately $460 million in annualized revenue. AssuredPartners is a portfolio company of Chicago-based private equity firm GTCR.
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