Risk Strategies Acquires Illinois-Based M.G. Welbel & Associates

Risk Strategies Co. has acquired M.G. Welbel & Associates (MGW), a Northbrook, Ill.-based professional liability insurance specialty broker.

Terms of the deal were not made public.

MGW’S focus is on lawyers and design professionals, including architects, engineers and surveyors. The firm’s focus is a natural fit for Risk Strategies’ brokerage practice for architects, engineers and other design professionals, the announcement said.

In May 2015, Risk Strategies acquired Chicago-based Northwest Comprehensive, bolstering its employee benefits and higher education practices. Risk Strategies established its Midwest presence in 2007 with a start-up office in Northfield, just north of Chicago, and has since more than tripled its head count and business in the region.

Risk Strategies operates from more than 18 offices across the country.

In October, Risk Strategies announced a significant investment by new majority owner Kelso & Company to build out its national practices and accelerate growth in key strategic areas.

Source: Risk Strategies Co.