London-based broker Beach & Associates announced the completion of its acquisition by Acrisure LLC, the Michigan-based retail consulting and insurance broker.
Having obtained all necessary regulatory approvals, Acrisure has acquired 100 percent of the company’s equity from existing shareholders. These shareholders include Aquiline Capital Partners, a private equity firm led by Jeff Greenberg, as well as current and previous Beach management.
Further terms of the transaction, which was first announced in January, were not disclosed.
Under new ownership, Beach will retain its name, identity and business strategy and will continue to operate as an independent advisory and transactional broking business within Acrisure, the Grand Rapids-based retail consulting and insurance broker.
All of the existing Beach management team will remain and have elected to become shareholders in Acrisure.
Source: Beach & Associates