GTCR Acquires AirSure
Search

GTCR Acquires AirSure

airsure nfAssuredPartners, a portfolio company of GTCR, has acquired AirSure Limited, a provider of insurance services to the aviation industry. This acquisition marks AssuredPartners entrance into the Colorado and Texas insurance markets. Since being formed in March 2011 by GTCR, AssuredPartners has acquired more than 50 insurance firms.

AirSure Limited specializes in insurance coverage, employee benefits and risk management services for businesses in the aviation industry, including commercial operations, corporate aircraft services and helicopters. AirSure has revenues of approximately $13 million. The company was founded in 1984 and is headquartered in Golden, CO with additional operations in Plano, TX (www.airsure.com).

As part of the acquisition, 35 AirSure employees will join AssuredPartners. Operations will continue out of the Golden and Plano office locations, under the local leadership of Bill Behan, CEO of AirSure.

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 London. From its founding in 2011, AssuredPartners has grown to approximately $310 million in annual revenue and has more than 80 offices in 26 states and a London office. 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).

AirSure will become the eighth AssuredPartners platform entity, joining Neace Lukens (Louisville, KY); SKCG (White Plains, NY); Jamison (West Orange, NJ); Dawson Companies (Cleveland, OH); SRA (Kansas City, KS); AHM (St. Louis, MO); and Commercial Insurance Services (Charleston, WV).

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).

© 2014 PEPD • Private Equity’s Leading News Magazine • 2-6-14

To search in site, type your keyword and hit enter