Subsidiaries of insurance agency partnership BRP Group have agreed to acquire substantially all of the assets of Wood Gutmann & Bogart Insurance Brokers and certain of its affiliates and related entities.
Based in Tustin, California, WGB is a middle-market brokerage firm providing commercial, personal and employee benefits insurance products and services. With annual revenues of approximately $29.7 million, WGB (#63 in Insurance Journal’s “Top 100” list of independent property/casualty agencies) represents Florida-based BRP Group’s sixth “Top 100” partnership since the beginning of the fourth quarter of 2020.
The deal, which is being transacted through BRP Group’s indirect subsidiaries including Burnham Benefits Insurance Services in Irvine, Calif., adds approximately 130 colleagues along with scale to BRP Group’s West Coast operations. In conjunction with Burnham, this partnership creates a top 3 broker in Los Angeles, according to rankings by the Orange County Business Journal
No terms were disclosed. The acquisition is expected to close or around December 1, 2021.
Topics Mergers & Acquisitions Agencies
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