Associated Benefits and Risk Consulting (ABRC) announced it will acquire Diversified Insurance Solutions (Diversified), based in Milwaukee, Wisconsin.
The transaction is expected to close next month. Terms of the transaction were not disclosed.
Based in Green Bay, Wisconsin, ABRC is an affiliate of Green Bay, Wisconsin-based Associated Banc-Corp, and is a multi-line insurance and consulting firm with 400 employees.
Management teams from the two companies have known each other for several years, providing a unique and compelling opportunity to join two premier firms with complementary strengths into an even more vibrant organization going forward, the announcement said.
As part of the proposed transaction, key Diversified Insurance Solutions executives will continue leadership roles for some time. Along with current ABRC senior leadership, the team will be responsible for the thoughtful integration and expansion of the business going forward.
Source: Associated Banc-Corp
Topics Mergers & Acquisitions
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