AssuredPartners, an independent insurance agent and a portfolio company of GTCR, has acquired Chapple Insurance Group. Since 2011, AssuredPartners has acquired more than 80 insurance agencies.
Chapple Insurance Group represents over 1,000 property and casualty clients in a wide range of industries throughout the United States, China, Canada, Mexico and Iraq. The $2.5 million dollar-agency will continue to operate from its current location and will be led by Charles Chapple. The agency is based in Wichita, KS (www.cigcorp.com).
The addition of Chapple to the Midwest region brings another large regional market under the AssuredPartner umbrella. “Chapple Insurance has an excellent reputation and an impressive client list, both in the Wichita area and beyond,” said SRA President Randy Larsen. “We have followed their success for a long time and are thrilled to have them join Assured’s Midwest region.”
AssuredPartners acquires and invests in insurance brokerage businesses (property and casualty, employee benefits, surety, managing general agencies, and wholesalers) across the United States and in the UK. From its founding in 2011, AssuredPartners has acquired more than 80 insurance firms and today has approximately $420 million in annual revenue with more than 100 offices in 27 states as well as two London offices. The company is led by Jim Henderson (CEO) and Tom Riley (COO) and is headquartered north of Orlando in Lake Mary, FL (www.assuredptr.com).
GTCR pioneered the investment strategy of identifying and partnering with executives to acquire and build companies through a combination of acquisitions and internal growth. The firm currently has nearly $11 billion in assets under management. Since its inception in 1980, GTCR has invested more than $10 billion in over 200 companies. The firm is based in Chicago (www.gtcr.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 1-29-15
