SUMMIT, N.J., July 7, 2020 /PRNewswire/ -- Specialty Program Group LLC (SPG), a leading operator of specialty insurance brokerages and underwriting facilities, announced today that it has acquired Avant, LLC. (Avant), a leading transportation Program Administrator and Wholesale Brokerage firm, with specialty Cannabis and Supermarket program divisions. Terms of the acquisition were not disclosed.
Established in 1973, Avant has dedicated itself to delivering best-in-market insurance solutions to the Transportation, Supermarket, and Cannabis industries. With a focus on risk management and claims, unique product offerings, and deep expertise, Avant has positioned itself as one of the premier program administrators in the United States. The current leadership of Avant will continue to run all aspects of the operation and Avant CEO Scott Hendricks will assume leadership of all transportation within SPG.
"Avant has experienced a long tradition of success but we could not pass up the opportunity to partner with an organization providing unmatched resources to great firms in our space. Working closely with SPG's executive leadership team and their transportation platform, will accelerate the creation of additional product offerings and services in new and existing industries we serve. This partnership will position us even more strongly as a leading program administrator," said Henricks.
"SPG has a track record of partnering with best in class firms and Avant is no different. Their outside-the-box thinking in solving unmet needs for their clients is unparalleled. Their excitement and innovative culture will bring a new dynamic to SPG's transportation platform and together we will continue to create products and services with our clients' needs front of mind," said Chris Treanor, President and CEO of SPG.
About Specialty Program Group
Headquartered in Summit, NJ, SPG focuses on expanding program underwriting and specialty businesses. For more information, please visit www.specialtyprogramgroup.com.
Media: Yiana Stavrakis
M&A: Chris Treanor
SOURCE Specialty Program Group