The team of seven surety and insurance specialists would continue operations under the leadership of Carl Dohn and Bill Maher
Independent insurance brokerage firm AssuredPartners has acquired Dohn & Maher Associates, a Rolling Meadows, Illinois-based insurance agency, for an undisclosed amount.
Under the terms of the transaction, Dohn & Maher Associates will become a part of the insurance brokerage firm. The team of seven surety and insurance specialists would continue operations under the leadership of Carl Dohn and Bill Maher.
Carl Dohn said: “In today’s complex world of insurance and surety bonding, our clients need a proven professional who can help them compete. At Dohn & Maher Associates our objective has always been to be the most important business partner for our clients. We value partnerships and joining AssuredPartners will allow us to continue to serve our clients and join a national footprint.”
AssuredPartners regional president Todd Stocksdale said: “The surety marketplace is one of utmost importance for our clients. Bringing this level of expertise into our operations is a great fit and we are delighted to expand our services with our new partner.”
The transaction marks the 25th acquisition for AssuredPartners in 2020
AssuredPartners said that the transaction marks its 25th acquisition in 2020, and Dohn & Maher insurance agency currently has $2m in annualised revenues.
The company is engaged in acquiring and investing in insurance brokerage businesses, including property and casualty, employee benefits, surety and MGU’s, in the aerospace, architecture, construction, education, financial services, health care, hospitality, and entertainment industries.
Established in March 2011, in Lake Mary, Florida, the insurance broker has more than $1.5bn in annualised revenue, with more than 190 offices in 30 states in the US and the UK.
AssuredPartners Illinois agency president William Hayes said: “We are truly excited to have Carl, Bill and their team of surety and insurance experts on board particularly for our construction teams in the Chicago area.”
AssuredPartners president and COO Tom Riley said: “As we continue to expand operations in the Illinois footprint, we are finding partnerships that will solidify our future. We are pleased to have the team of Dohn & Maher join AssuredPartners as their focus in surety and bonding will complement our existing operations nicely.”