BRP Group Inc. through its indirect subsidiaries, including Burnham Benefits Insurance Services, has entered into an agreement to acquire substantially all of the assets of Wood Gutmann & Bogart Insurance Brokers and certain of its affiliates and related entities.
The deal is expected to close around Dec. 1, and is subject to certain closing conditions. Terms were not disclosed. MarshBerry acted as exclusive financial advisor to WGB in the transaction.
The acquisition brings 130 employees to BRP and Burnham.
Tustin, Calif.-based WGB is a middle-market brokerage firm providing a range of commercial, personal and employee benefits insurance products and services with reported annual revenues of $29.7 million. WGB ranked 63 in Insurance Journal’s “Top 100” list of independent property/casualty agencies.
BRP is an independent insurance distribution firm representing more than 700,000 clients across the U.S. and internationally.
Topics Mergers California
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