AssuredPartners, a portfolio company of Chicago-based private equity firm GTCR, has acquired SKCG Group, a New York-based insurance agency.
SKCG is a privately-held risk management and insurance advisory firms in the US with revenues of approximately $18m.
The acquisition is expected to provide AssuredPartners with a strategic asset and penetration into the greater New York metropolitan area.
As per the acquisition, AssuredPartners will provide SKCG with strategic and financial support to drive continued growth.
The insurance broker will maintain its day to day operations, and the company’s name and location will remain the same.
AssuredPartners CEO Jim Henderson said SKCG has established a premier reputation for client service and industry expertise which will contribute to the continued growth and success of AssuredPartners.
"We are proud to have SKCG join the AssuredPartners team and expand our presence in the greater New York region," Henderson said.
SKCG president and CEO Thomas Kozera said they believe that AssuredPartners will provide them with new capabilities and resources to better support their current and future customers while maintaining the quality service valued by our clients.
The financial terms of the deal were not disclosed.