Brokerage BRP Group Inc. said Monday that it has agreed to buy South Dennis, Massachusetts-based RogersGray Inc. and two related brokers with a combined revenue of approximately $ 38.8 million.
The acquisition will be made by two of BRP's indirect subsidiaries, Baldwin Krystyn Sherman Partners LLC and Millennia Specialty Insurance LLC, and will include RogersGray Inc., Breakwater Brokerage LLC and Monomoy Insurance Group, according to a statement from BRP.
RogersGray and its subsidiaries provide commercial and personal coverage and employee benefits. insurance to large and medium-sized companies and individuals and has annual revenues, said BRP.
The terms of the transaction were not disclosed.
RogersGray President and CEO David Robinson and Chairman of the Board Michael Robinson will serve as regional presidents of the New England region within the BRP Group's mid-market operations group, the statement said.
BRP unit Baldwin Risk Partners LLC ranked 32nd among the 1
BRP, which has made several acquisitions since its IPO in 2019, said in February that Baldwin Kristyn Sherman will acquire Atlanta-based Tanner, Ballew & Maloof Inc.