The acquisition will strengthen Patriot Growth Insurance Services’ portfolio in risk management and employee benefits while expanding its presence in Nevada
Patriot Growth Insurance Services, a Pennsylvania-based insurance brokerage firm, has entered into the Las Vegas insurance market in Nevada with the acquisition of Capstone Brokerage.
The deal to acquire Capstone Brokerage is expected to enhance the brokerage’s existing risk management and employee benefits capabilities. It will also expand Patriot Growth Insurance’s services into a new location.
Capstone Brokerage caters to the unique needs of its clients
Capstone Brokerage is an independent insurance agency offering various property & casualty and employee benefits insurance products. The team serving Capstone is claimed to be highly committed to understanding the unique needs and strategic long-term goals of its clients.
The firm is led by president Mary Thompson, who has been an active member in the insurance community with more than three decades of industry experience.
Thompson said: “At Capstone, we’ve created an environment that reflects our customer-first approach to risk management and insurance. Our goal is to exceed client expectations with each customer interaction.
“We are so fortunate to have found a partner in Patriot that will not only support the continued growth of the business but will also prioritise the values that have made Capstone the trusted agency that it is today.”
Patriot founder and CEO Matt Gardner said: “Our goal at Patriot is not to ‘collect’ agencies, but rather to very carefully ‘curate’ firms that are committed to collaborating with their partners across the country to achieve industry-leading growth.
“Mary and the team at Capstone checked all of the boxes for us, and we look forward to building around them in the rapidly growing Nevada marketplace. I am very pleased to welcome them into the Patriot family.”
In February this year, Patriot had acquired Bagatta Associates, a Long Island-based commercial and personal lines insurance agency. Through the deal, Patriot has a presence in the greater New York City marketplace.
Founded in 1975, Bagatta Associates has served its clients’ needs through cost-effective insurance solutions to provide coverage for businesses and individuals from all walks of life.
The firm is claimed to specialise in real estate, construction, fuel oil, wholesale/manufacturer/distributor, automotive and pharmaceutical industries.