Prime Risk Partners Inc., a national insurance distribution firm in Atlanta, announced its acquisition of Cook Maran & Associates Inc., an independent agency with offices in East Hampton, Southampton and Melville, New York, as well as in Marlton and Fairlawn, New Jersey. Financial terms of the transaction were not disclosed.
Cook Maran will continue to operate under the name Cook Maran & Associates Inc. and will retain all five offices in New York and New Jersey, with plans to expand, the announcement said. The Cook Maran leadership team and the firm’s 160-plus employees will continue in their current roles.
Prime Risk Partners said this is the firm’s first strategic acquisition since its launching last year. Cook Maran provides a strong regional insurance brokerage platform and Prime Risk Partners plans to grow it both organically and through acquisitions of property/casualty and employee benefits firms, the announcement said.
Prime Risk Partners is an Atlanta-based national insurance distribution firm formed in May 2014 by private equity firm Thomas H. Lee Partners and two former Beecher Carlson executives Bret Quigley and Adam Meyerowitz.
Cook Maran & Associates, which traces its roots to 1946, is an insurance brokerage and consulting firm providing a range of personal and commercial insurance services, employee benefits, surety, and credit risk services.
Topics Mergers & Acquisitions New York
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