US-based insurance brokerage firm AssuredPartners has purchased independent insurance agency, Golseth & Gregson Insurance Services, to expand its footprint in the region.
Trading as GBP Risk Solutions, the acquired entity delivers an assortment of commercial insurance, personal commercial insurance, group employee benefits, individual life and health insurance, retirement plans, bonds, and workers’ compensation.
The latest acquisition, which has assisted Tucson-area clients manage and plan for their potential risks for decades, will enable AssuredPartners to offer a grouping of new insurance services and innovative business solutions to its clients.
GBP Risk Solutions president Rick Gregson said, "Our clients will continue to receive the high level of service they have come to know and trust, while our agents will have access to many valuable AssuredPartners resources and support services."
Based on the agreement, all the 16 agents and employees of the acquired firm will join AssuredPartners, including Rick Gregson, GBP Risk Solutions president.
New York-based Harbinger Ventures Group was hired to offer advice to GBP Risk Solutions over the deal.
In April 2013, the company purchased all of the assets of Alan James Insurance, an insurance broker specializing in insurance products and services designed for the south-Florida real estate market.
AssuredPartners, a portfolio company of Chicago-based private equity firm GTCR, acquires and invests in insurance brokerage businesses, including property and casualty, employee benefits, surety, MGA/wholesalers across the US and in London.