JenCap Holdings has agreed to acquire privately held Special Risks Facilities, an MGA/contract binding authority and wholesale insurance brokerage firm based in Sterling Heights, Michigan with another office in Peoria, Arizona.
Special Risks was formed in 1971 and is led by Jack Klebba and Randy Kaszeta.
JenCap Holdings (JCH) was formed in March 2016 by The Carlyle Group and JCH management to consolidate specialty insurance distribution businesses, including managing general agents, program managers and transactional wholesale brokers. The acquisition of Special Risks (SRF) is the fifth transaction by JCH and places the company amongst the largest wholesale brokers in the US.
John F Jennings, President and Chief Executive Officer of JCH, says: “Jack Klebba and Randy Kaszeta have built a high quality business and we are excited that they have chosen JenCap to preserve Special Risks’ commitment to excellence and service to their clients. We are excited to have Special Risks join our growing distribution platform.”
Klebba, President of SRF, says: “We wanted a partner that felt the same way about our commitment to clients, employees and carriers and we realised early on that JenCap was the right fit.”
“We are very enthusiastic about the JenCap transaction,” says Kaszeta, Executive Vice President of SRF. “Our thoughts on how to continue our growth matched up perfectly with the JenCap management model.”
