The deal would help Relation expand its geographic footprint into South Carolina and enhance Theodore’s product offering and risk management capabilities
US-based insurance brokerage firm Relation Insurance Services has acquired the assets of Theodore & Associates Insurance Agency in Columbia, South Carolina, for an undisclosed amount.
Under the terms of the transaction, Theodore will continue with the same name, operating as a Relation company.
Its president Drew Theodore will be appointed as head of the South Carolina operations for Relation, along with his son Nick Theodore managing operations the firm’s operations.
Drew said: “Joining Relation is an exciting step for our firm and our clients. Relation shares our commitment to client service while providing our agency with more services to offer to our clients, and we are ideally poised with this partnership for continued growth and success throughout South Carolina.”
Relation said that the acquisition would enable expansion of its geographic footprint into South Carolina and further enhance Theodore’s product offering and risk management capabilities.
Relation Insurance CEO comments on acquisition
Relation Insurance CEO Joe Tatum said: “This expansion into South Carolina builds on our significant presence in North Carolina and we are thrilled to partner with such a high-quality firm like Theodore & Associates. Drew and his team will be pivotal to our growth as we look to continue our expansion throughout the state.”
Relation Insurance is engaged in providing property and casualty, risk management, employee benefits, and TPA-consulting services through its family of brands.
Established in 1984, Theodore is a full-service insurance brokerage firm that provides property, casualty and employee benefits products and services to commercial and personal clients.