Baldwin Krystyn Sherman Partners LLC (BKS Partners) entered into an agreement to acquire all the outstanding equity interests of Construction Risk Partners LLC (CRP). The transaction is expected to close on or around December 1, 2021, subject to certain closing conditions.
BKS Partners is an indirect subsidiary of BRP Group Inc., an independent insurance distribution firm delivering tailored insurance solutions.
Based in Branchburg, New Jersey, CRP is a specialty construction brokerage firm focused on providing risk mitigation expertise and services to business owners, developers, general contractors, designers and subcontractors across the country. CRP has annual revenues of approximately $32.6 million, calculated as revenue attributable to acquired business for the most recent trailing twelve-month period prior to acquisition by BRP Group.
CRP’s product expertise includes property and casualty insurance, surety, subcontractor default insurance and wrap-up services. This transaction, which brings with it approximately 85 colleagues, will serve to enhance BRP Group’s position and influence within the construction marketplace.
MarshBerry acted as exclusive financial advisor to CRP in the transaction.
Source: BRP Group Inc.
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