Securitas Insurance Partners caters to venture capital and private equity backed portfolio firms by addressing their retail insurance and risk management needs
Risk Strategies, a US insurance brokerage and risk management company, has acquired Securitas Insurance Partners, a specialty brokerage based in Pennsylvania.
Financial terms of the deal were not disclosed.
Securitas Insurance Partners caters to venture capital and private equity backed portfolio firms by addressing their retail insurance and risk management needs.
Risk Strategies CEO John Mina said: “Companies that are part of a private equity or venture capital investment portfolio, or simply focused on growing through acquisition, face complicated and often high stakes risks.
“Securitas is a leader in identifying and mitigating these risks. We saw that expertise as a great fit for our growing national Private Equity practice.”
Typically, Securitas Insurance Partners is said to work with its clients right through the life cycle of their investment. The insurance firm supports them in acquisitions and divestitures, and also in the ongoing programmatic insurance requirements of their portfolio companies.
The specialty brokerage is said to provide local, national and global clients during all growth stages with its industry and risk-specific products and services. It offers customised insurance programmes for emerging firms, corporate risk management programmes, management liability, employee benefits, and others.
Risk Strategies said that its national practice had grown significantly last year following the acquisition of Krauter & Company, a private equity specialist.
The company said that the acquisition of Securitas Insurance Partners consolidates on the momentum by growing operational depth while giving expertise in assisting non-private equity entities with their growth by having their acquisition risk and insurance needs covered.
Securitas Insurance founder comments on the deal
Securitas Insurance Partners founder and managing partner Michael McFadden said: “Managing the evolving risk and insurance needs of investment portfolio companies is not a job for a generalist.
“We saw joining Risk Strategies as a seamless way to scale up our specialty approach with a firm equally experienced in this space.”
In late August, Risk Strategies acquired McCamon Hunt Insurance Agency, an Ohio-based health insurance agency.