Florida-based AssuredPartners Inc. has acquired the Neace Lukens, a Kentucky-based insurance agency, as part of a plan to build a national insurance brokerage firm.
AssuredPartners is a member company of GTCR, a Chicago private equity firm that invests in companies in the financial services, technology, healthcare and information sectors. The deal with Neace Lukens is the first for the Lake Mary, Florida-based AssuredPartners, which is also seeking other similar acquisitions.
Neace Lukens has $88 million in annual revenue, 150 licensed agents and more than 500 employees. The Louisville, Kentucky-based firm sells property/ casualty insurance, employee benefits and risk management servicess. The agency has 22 offices in Kentucky, Ohio, Indiana, Illinois, Michigan, Tennessee, Arizona, Georgia, Arkansas, Florida and South Carolina.
Under the deal, the firm will continue to operate under the Neace Lukens name.
Jim Henderson, chairman and chief executive officer of AssuredPartners, said this inaugural deal in Kentucky sets the course for AssuredPartners’ long-term effort to acquire property/casualty and employee benefits brokerage firms across the U.S.
Topics Mergers & Acquisitions Florida
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