US-based private equity firm GTCR's portfolio firm AssuredPartners has acquired New York-based Amtech Insurance Brokers, in a bid to further strengthen its footprint in the Northeast Market.
Amtech provides full-service commercial insurance and risk management solutions for different industries. It offers services to industry specialties, including construction, welding supply and compressed gas.
Assured SKCG chairman and CEO Tom Kozera said: "Amtech’s leadership team and its client service staff are experienced insurance professionals who have designed national programs and are extremely knowledgeable about their clients’ operations in the field and the issues they face."
The agency also provides a drillers insurance program for a wide range of contractor clients, including water well and environmental to geothermal drillers.
Under the leadership of its president and founder Paul Andrews and vice-president Chris McMahon, the $2m revenue agency will continue to provide services from the current location.
Andrews said: "The additional resources, geographical reach and carrier relationships that we are gaining will benefit us both internally and externally."
AssuredPartners operates insurance brokerage businesses, providing property and casualty, employee benefits and surety services.