Insurance brokers Equity Risk Partners (ERP) and Lipscomb & Cathey have formed a new joint venture called ERP-Texas, which will cater to the needs of the private equity space in Texas.

Under the partnership, San Francisco-based ERP and Dallas-based Lipscomb & Cathey will share resources with the intent to expand the scope of their respective businesses and capitalize on the private equity and M&A activity in Texas.

ERP-Texas will operate as a fully integrated organization with a team from both companies.

Ronnie Cathey of Lipscomb & Cathey said, this partnership ERP-Texas is expected to become an increasingly important and profitable part of business in the years ahead.

ERP founder and CEO Michael Marcon said, by combining the individual capabilities and experience, this initiative will enable ERP to better serve existing clients and will position to become the optimal choice for private equity firms and portfolio companies in and around Texas.