AssuredPartners Acquires Founders Insurance Group in Connecticut

AssuredPartners Inc. announced today its acquisition of Founders Insurance Group, an independent agency with locations in Torrington and Lakeville, Connecticut. Terms of the transaction were not disclosed.

Founders Insurance Group has been providing commercial property and casualty, group health and life benefits and personal insurance services for more than a century, AssuredPartners said. The agency’s staff and leadership will continue to operate from their existing locations in Torrington and Lakeville. AssuredPartners said it would be bringing on 26 employees with Founders.

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 $490 million in annualized revenue.

AssuredPartners, a portfolio company of Chicago-based private equity firm GTCR, recently announced that it has entered into an agreement to be acquired by funds advised by Apax Partners, a London-based global private equity firm. That transaction is expected to close in the third quarter of 2015.

Topics Mergers & Acquisitions Connecticut