Sunz Insurance, a provider of workers' compensation policies for professional employer organizations and staffing companies, has acquired Tennessee-based Brentwood National Insurance.
Currently, Sunz is in the process of finalizing rate approval in the state jurisdictions that have been acquired through Brentwood National. Once complete, the expansion will focus primarily on the southeast region of the country and will give it the opportunity to write policies in an additional 12 states.
The partnership between Sunz and private equity investment firm Palm Beach Capital, helped in the deal. Palm Beach Capital partners with management teams in middle market buyouts, recapitalizations and growth equity investments.
Sunz expects the expansion to prove beneficial for all parties involved by providing optimal services to existing clients, continuing to allow the company to focus their support of PEO’s on a local level as well as the national level.
Doug Lilak, CEO of Sunz Insurance, said: “From inception, our focus has been on the client. When we provide specialized services and work with each client on an individualized plan that best fits their needs, we reduce the risk of disappointment, which in turn, benefits us all.”
Nate Ward, a partner of Palm Beach Capital, said: “I would like to congratulate the Sunz management team for closing on the addition of 12 state licenses for Sunz Insurance. This is a big step towards maximizing surplus through the addition of new markets to serve new and existing clients.”