Acrisure Completes Strong Year of Growth in 2013 Acrisure's Retail Brokerage Network Broadened With Nine Acquisitions; Revenues More Than Doubled in 2013
GRAND RAPIDS, Mich., Feb. 21, 2014 /PRNewswire/ -- The year 2013 proved to be very active and productive for Acrisure, a leading national insurance brokerage, since its acquisition by private equity firm Genstar Capital, as the company grew its business to over $80 million in annual revenue, more than double the prior year.
Commenting on the firm's rapid growth, Greg Williams, Chief Executive Officer of Acrisure, said, "We are very pleased with our firm's performance in 2013 and our ability to creatively source and successfully integrate high quality retail brokerages. Through our growth, we have broadened the size and scope of our insurance offerings, benefiting our valued clients wherever they operate. We partnered with agencies with exceptional insurance expertise and service models and, by joining Acrisure, these agencies strengthen our company and further expand our geography."
Acrisure broadened its retail brokerage network with nine acquisitions in six states since Genstar's investment.
"Our success is attributable to our highly experienced team, terrific teamwork, and differentiated capabilities in the market. In addition, since we began our partnership with Genstar, we have the additional financial and management resources of experienced insurance industry veterans who continue to provide strategic insights and operational value-add to help facilitate significant profitable growth."
Combined with its other acquisitions, the new agency partners represent a national expansion of the Company's footprint to the East, South, Southwest and Midwest, and also provide additional expertise in energy, professional liability, real estate, benefits, construction, municipalities, and non-profits.
Mr. Williams noted that management continues to evaluate a strong pipeline of transactions and that the company will continue to grow by partnering with successful agencies that value Acrisure's business model.
Based in Grand Rapids, MI, Acrisure is a leading national insurance brokerage focused on excellence in property, casualty and specialty insurance, benefits design and human resource outsourcing. Acrisure draws upon the local reputation and sophisticated expertise of its partner agencies to deliver superior business solutions for our clients. As of December 31, 2013, the Company has 15 platform locations in 10 states and approximately 500 employees throughout the United States. The company was co-founded in 2005 by CEO Greg Williams to acquire independent insurance agencies across the Midwest and since expanded its footprint nationally.