BRP Group, Inc. (“BRP Group” or the “Company”) (NASDAQ: BRP), a
rapidly growing independent insurance distribution firm delivering
tailored insurance solutions, today announced that Baldwin Krystyn
Sherman Partners, LLC (“BKS-Partners”), the middle-market
subsidiary of BRP Group, has acquired substantially all assets of
Rosenthal Bros., Inc. (“Rosenthal Brothers”), a Chicago-based
provider of P&C insurance, employee benefits and private client
solutions to middle market companies and individuals.
Rosenthal Brothers generated annual revenues of approximately $18.8
million.
Since its founding, Rosenthal Brothers has grown
its business to approximately 55 employees across two
offices. In particular, Rosenthal Brothers specializes in
providing insurance solutions for the real estate industry with a
stellar reputation in large habitational real estate.
Following this Partnership, Rosenthal Brothers will be
rebranded under the Company’s BKS-Partners banner.
“Partnering with Rosenthal Brothers, a premier
independent firm, significantly boosts our P&C and full-service
insurance solution capabilities, particularly within the real
estate sector, and gives us a major platform to build on in the
important Chicago market,” said Trevor Baldwin, Chief Executive
Officer of BRP Group. “The Rosenthal team is highly specialized and
boasts a hungry Risk Advisor team that has been the driving force
behind Rosenthal’s consistent growth. Knowing the level of
talent, Rosenthal’s sterling reputation and their ongoing growth
opportunities, we are excited to add the Rosenthal team to the BRP
family.”
“Joining BRP Group was a natural strategic fit
for Rosenthal Brothers, as we already have a common client-centric
philosophy, culture and entrepreneurial spirit,” said Michael
Minsky, Partner at Rosenthal Brothers. “We’ve built an
amazing insurance firm that has served the Chicagoland region, and
we’re excited to align with BRP and leverage their innovative
service platform and their wealth of complementary tools and
capabilities, which will allow us to enhance our existing client
relationships, generate new business and take us to the next
level. We expect a smooth transition with BKS-Partners for
our current clients, and our team will naturally benefit from the
new career development opportunities available to them.”
BKS-Partners works with clients across the
country, providing them with best-in-class services and innovative
risk solutions, and has been strategically expanding its geographic
reach throughout the U.S.
WEBCAST AND CONFERENCE CALL INFORMATION
On June 1, 2020, BRP Group also announced that
BKS-Partners acquired substantially all assets of Trinity Benefit
Advisors, Inc. and Russ Blakely & Associates, LLC (“TBA-RBA”),
Tennessee-based providers of employee benefit plan management, as
well as marketing and benefit plans designed for middle-market
companies. BRP Group will host a webcast and conference call
to discuss both the Rosenthal Brothers and TBA-RBA acquisitions on
Tuesday, June 2, 2020 at 8:30 AM ET. A live webcast and a
slide presentation will be available on BRP Group’s investor
relations website at ir.baldwinriskpartners.com. The dial-in number
for the conference call is (877) 451-6152 (toll-free) or (201)
389-0879 (international). Please dial the number 10 minutes prior
to the scheduled start time.
A replay will be available following the end of
the call through Tuesday, June 16, 2020, by telephone at (844)
512-2921 (toll-free) or (412) 317-6671 (international), passcode
13704474. A webcast replay of the call will be available at
ir.baldwinriskpartners.com for one year following the
call.
ABOUT BRP GROUP, INC.
BRP Group, Inc. (NASDAQ: BRP) is a rapidly
growing independent insurance distribution firm delivering tailored
insurance and risk management insights and solutions that give our
clients the peace of mind to pursue their purpose, passion and
dreams. We are innovating the industry by taking a holistic
and tailored approach to risk management, insurance and employee
benefits, and support our clients, Colleagues, Insurance Company
Partners and communities through the deployment of vanguard
resources and capital to drive our growth. BRP represents
over 450,000 clients across the United States and internationally.
For more information, please visit www.baldwinriskpartners.com.
Learn more about BKS-Partners at www.bks-partners.com.
ABOUT ROSENTHAL BROS., INC.
Rosenthal Brothers has been redefining the best
practices and standards of the insurance industry. Centrally
headquartered in the Midwest, we pride ourselves on relationships
we’ve developed that have since expanded to many areas across the
country. Our time-proven corporate structure emphasizes a
synergistic team approach that enables us to actualize our clients’
insurance and financial goals. We are dedicated to exceeding your
expectations for today and to help you realize your vision for
tomorrow. Learn more at www.rosenthalbros.com.
NOTE REGARDING FORWARD-LOOKING
STATEMENTS
This press release may contain various
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995, which represent BRP
Group’s expectations or beliefs concerning future events.
Forward-looking statements are statements other than historical
facts and may include statements that address future operating,
financial or business performance or BRP Group’s strategies or
expectations, including those about this Partnership. In some
cases, you can identify these statements by forward-looking words
such as “may”, “might”, “will”, “should”, “expects”, “plans”,
“anticipates”, “believes”, “estimates”, “predicts”, “projects”,
“potential”, “outlook” or “continue”, or the negative of these
terms or other comparable terminology. Forward-looking statements
are based on management’s current expectations and beliefs and
involve significant risks and uncertainties that could cause actual
results, developments and business decisions to differ materially
from those contemplated by these statements.
Factors that could cause actual results or
performance to differ from the expectations expressed or implied in
such forward-looking statements include, but are not limited to,
those described under the caption “Risk Factors” in BRP Group’s
Annual Report on Form 10-K for the year
ended December 31, 2019 and BRP Group’s Quarterly Report
on Form 10-Q for the three months ended March 31, 2020, and in BRP
Group’s other filings with the SEC, which are available free of
charge on the Securities and Exchange Commission's website at:
www.sec.gov, including those factors relevant to BRP Group’s
integration of this Partnership, matters assessed in BRP Group’s
due diligence, the business, financial condition and results of
operations of BRP Group or this Partner, or both, and factors
related to the potential effects of the COVID-19 pandemic on our
business, financial condition and results of operations. Should one
or more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary
materially from those indicated. All forward-looking statements and
all subsequent written and oral forward-looking statements
attributable to BRP Group or to persons acting on behalf of BRP
Group are expressly qualified in their entirety by reference to
these risks and uncertainties. You should not place undue reliance
on forward-looking statements. Forward-looking statements speak
only as of the date they are made, and BRP Group does not undertake
any obligation to update them in light of new information, future
developments or otherwise, except as may be required under
applicable law.
CONTACTS
INVESTOR RELATIONS
Investor Relations
(813) 259-8032 | IR@baldwinriskpartners.com
PRESS
Rachel Carr, Marketing Director
Baldwin Risk Partners
(813) 418-5166 |
Rachel.Carr@baldwinriskpartners.com
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