Agency acquirer AssuredPartners Inc. of St. Mary, Florida, has purchased the assets of Turner & Hamrick, LLC, headquartered in Troy, Alabama.
The Alabama agency specializes in insurance for the trucking industry, in addition to coverage for businesses, individuals, and professional liability. Turner & Hamrick has revenues of approximately $3.7 million, according to the announcement.
As part of the acquisition, the company said 23 Turner & Hamrick employees will join AssuredPartners. Operations will continue in the Troy office, and in existing satellite offices in Birmingham, Montgomery, and Daphne, Alabama, under the local leadership of William F. Hamrick, managing member of Turner & Hamrick.
AssuredPartners is a portfolio company of Chicago-based private equity firm GTCR. It acquires and invests in insurance brokerage businesses across the United States and in London. AssuredPartners said it has acquired 70 firms and grown to approximately $390 million in annualized revenue since its founding in March of 2011.
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