BRP Group said that the acquired entities will operate under its middle-market subsidiary Baldwin Krystyn Sherman Partners
Baldwin Risk Partners Group (BRP Group) has acquired Trinity Benefit Advisors, Russ Blakely & Associates, and Rosenthal Bros. (Rosenthal Brothers) for an undisclosed price in separate deals.
The US insurance distribution firm acquired Trinity Benefit Advisors and Russ Blakely & Associates (together called TBA-RBA) through its middle-market subsidiary Baldwin Krystyn Sherman Partners (BKS-Partners). The two acquired firms which are based in Tennessee, offer employee benefit plan management across the Southeastern US.
BRP Group CEO Trevor Baldwin said: “Tennessee is one of the most dynamic economies in the U.S. The opportunity to partner with TBA-RBA, one of the largest independent employee benefit consulting firms in the Southeast, reinforces our commitment to thoughtfully building a national franchise in key geographies with industry-leading talent.
“TBA-RBA has a leading retention rate among its client base, as well as a talented leadership team that has consistently grown their business throughout past economic cycles.”
According to BRP Group, the acquired companies have combined annual revenue of around $17.3m. The insurance distribution firm said that the acquired entities will be transitioned to the BKS-Partners brand.
Engaged in working with clients across the US, BKS-Partners is said to offer them with services and risk and health and welfare solutions.
BRP Group acquisition of Rosenthal Brothers
In the other deal, BRP Group, through BKS-Partners, acquired substantially all assets of Chicago-based Rosenthal Brothers. The acquired firm caters to middle market companies and individuals with property and casualty insurance, employee benefits and private client solutions.
Rosenthal Brothers’ annual revenues are said to be around $18.8m. The company has nearly 55 employees and in particular, specialises in offering insurance solutions for the real estate industry.
The Chicago-based firm will also be rebranded under the BKS-Partners banner.
Rosenthal Brothers partner Michael Minsky said: “We’ve built an amazing insurance firm that has served the Chicagoland region, and we’re excited to align with BRP and leverage their innovative service platform and their wealth of complementary tools and capabilities, which will allow us to enhance our existing client relationships, generate new business and take us to the next level.”