Private equity firm GTCR has closed the previously announced sale of AssuredPartners to Apax Partners.
Founded in 2011, AssuredPartners is the an independent P&C insurance brokerage with offices in over 30 states, the District of Columbia and London. Through Assured’s network of agencies, the Company provides property and casualty and employee benefits insurance brokerage services to commercial enterprises and individuals.
In executing the Leaders Strategy, GTCR partnered with long-time insurance brokerage industry leaders Jim Henderson and Tom Riley to form AssuredPartners in 2011. Henderson and Riley had over 50-years of combined experience in the insurance brokerage industry, with specific experience in building a national broker through acquisitions and organic growth.
Since forming Assured in 2011, the Company completed 112 acquisitions becoming one of the leading middle market insurance brokers in the United States.
BofA Merrill Lynch served as lead financial advisor to Assured and GTCR with Barclays and Morgan Stanley & Co. LLC also serving as financial advisors. Kirkland & Ellis LLP provided legal counsel to Assured and GTCR.