Florida-based firm AssuredPartners Inc has closed its acquisition of Kentucky-based firm Creech & Stafford Insurance Agency Inc. The transaction was done through Neace Lukens, an AssuredPartners company. The financial terms of the deal were not disclosed, according to Insurance Journal.
Under the terms of the acquisition deal, 18 of Creech & Stafford's team members will be transferred to Neace Lukens. In addition, the former's office in Lexington will be integrated into the latter's Lexington branch by summer of this year, the report detailed.
Founded in 1982, Creech & Stafford is a company that deals with business, home, life, automobile, and personal insurance. It currently has offices in Lexington and Hazard in Kentucky the report stated.
AssuredPartners, on the other hand, is a portfolio company of private equity group GTCR in Chicago. The firm is involved in the acquisition and insurance brokerage investments in the US and in London. Founded in 2011, the company now has over 80 branches in the country and one in London, Insurance Journal detailed.
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