TBM is an Atlanta, Georgia-based independent commercial P&C insurance agency offering insurance and risk expertise solutions
BRP agrees to acquire TBM. (Credit: Gerd Altmann from Pixabay.)
US-based independent insurance distribution firm BRP Group has agreed to acquire all the assets of Tanner, Ballew & Maloof (TBM), for an undisclosed amount.
TBM is an Atlanta, Georgia-based independent commercial P&C insurance agency that offers insurance and risk expertise solutions to individuals and industries.
BRP has signed the acquisition agreement with Baldwin Krystyn Sherman Partners (BKS-Partners), an indirect middle-market subsidiary of BRP Group.
BRP Group chief partnership officer John Valentine declared: “TBM is one of the top independent firms in the Southeast and we are delighted to announce this Partnership.
“TBM significantly boosts our P&C and risk solution capabilities, particularly in multi-family, and gives us an excellent opportunity to provide complementary employee benefit and professional risk management solutions to the Atlanta market.
“TBM’s expert team and their philosophy of providing top-shelf risk management counsel and service to their clients has enabled their strong growth and is a clear fit with our Firm.”
TBM provides insurance and risk expertise solutions to the middle market
BRP Group is an independent insurance distribution firm that offers customised insurance and risk management insights and solutions for clients.
The company also supports clients, colleagues, insurance company partners and communities by deploying its resources and capital.
Specialised in the multi-family real estate industry, TBM also provides insurance and risk expertise solutions to the middle market, including the technology, real estate, hospitality, private equity, manufacturing and distribution industries.
The acquisition is expected to close on 31 December, 2020, subject to certain closing conditions, and is expected to expand BRP Group’s footprint in the Atlanta market.
For the transaction, Reagan Consulting and its wholly-owned subsidiary, Reagan Securities served as financial advisor to TBM.
TBM principal Steve Maloof said: “We are thrilled to be joining the BRP Group family and are excited to continue growing a tremendous business in Atlanta for our clients. It was important to make sure we aligned ourselves and our clients with the right home: with people who view the business with a long-term lens and who really value clients and culture.”
TBM principal Michael Ballew said: “Today’s announcement is due to the hard work and effort delivered every day by our entire TBM team.
“We are extremely proud of our team’s collective accomplishments, and as we join the BRP Group family, they will be able to take advantage of the considerable new capabilities and enhanced platform to best serve clients and create new development opportunities for their own careers.”