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Earlier this month this publication revealed that the brokerages were in advanced talks to secure a deal. -
The industry posted a good quarter, but reserving and loss cost concerns hardly abated.
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Woodruff Sawyer is understood to have revenue in the $240mn ballpark and Ebitda in excess of $50mn.
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This follows yesterday’s appointment of Sean Smith as company president.
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This publication previously revealed that private equity firm GTCR was seeking to place the broker into a continuation vehicle.
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The average size of acquired agencies was $2.74mn, down from $4.23mn a year earlier.
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The deal’s closing comes just a month and a half after the companies announced the transaction.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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Moyles will serve as co-president alongside Tom O’Neil.
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The business will trade via London, the US and Canada.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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The executive spent over 15 years at Aon in various M&A-related positions.
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