Propel Insurance, a privately-owned insurance agency and portfolio company of Flexpoint Ford, has acquired South Carolina-based South Risk Management (SRM), a construction-focused insurance consulting firm.
The acquisition of SRM expands Propel’s presence into South Carolina and adds to the company’s existing Southeast footprint, which includes Knoxville, Charlotte, Atlanta and Orlando.
SRM founding partners David Wells, Tripp Hafner and W.D. Morris plan to expand Propel’s existing construction practice with John Babson taking on a leadership role. The team will leverage the pool of resources available at Propel in order to continue providing risk management services to clients.
Propel Insurance provides a range of property, casualty, risk management, workers’ comp, employee benefits, personal insurance and other products across North America.
Flexpoint Ford is a private equity investment firm that specializes in privately negotiated investments in the financial services and healthcare industries.
Source: Propel Insurance
Topics Mergers & Acquisitions
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