BRP Group, Inc. Announces Acquisition of EBSME, LLC
July 30 2021 - 9:15AM
BRP Group, Inc. (“BRP Group” or the “Company”) (NASDAQ: BRP), an
independent insurance distribution firm delivering tailored
insurance solutions, today announced that Armfield, Harrison &
Thomas, LLC (“AHT”), an indirect subsidiary of BRP Group, has
acquired substantially all of the assets of EBSME, LLC (“EBSME”), a
Mount Airy, Maryland-based insurance agency providing ancillary
benefit solutions for employer groups, brokers and consultants.
As a result of this Partnership, BRP Group’s
nomenclature for a strategic acquisition, EBSME will bring to BRP
Group a deep ancillary benefits expertise that has powered strong
organic growth since EBSME’s inception. EBSME generates annual
revenues of approximately $1.2 million.
“EBSME has added considerable value to its
clients by helping them navigate the challenging world of ancillary
employee benefits, and as a result has built a rapidly-growing and
first-class practice,” said David Schaefer, Regional President of
AHT. “We will be pleased to add the EBSME team to the BRP Group
family, and we expect they will integrate well within AHT and the
broader BRP Group organization to further enhance our robust
benefits capabilities.”
“Becoming a part of BRP Group is the natural
progression for our team. It allows us to further enhance our
consultative capabilities and provides expanded access to BRP
Group’s employee benefits client base,” said Kevin Curran, Founding
Partner of EBSME.
“We’re excited to partner with AHT and BRP
Group to serve our existing and new clients the proactive and
thoughtful solutions they have come to expect from us,” said Matt
Masone, Partner of EBSME.
ABOUT BRP GROUP, INC.
BRP Group, Inc. (NASDAQ: BRP) is an 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 Group represents over 600,000 clients across the
United States and internationally. For more information, please
visit www.baldwinriskpartners.com. Learn more about AHT at
www.ahtins.com.
ABOUT EBSME
EBSME partners with benefits consultants to
provide clients a data-driven life & disability policy
analysis, transforming the sales approach from spreadsheets to
consultation. Together, we empower clients to make highly informed
plan decisions they can own. Learn more at www.ebsme.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,
2020 and 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 risks and
other factors relevant to BRP Group’s integration of this
Partnership, matters assessed in BRP Group’s due diligence, , risks
related to the disruption of management time from ongoing business
operations due to this Partnership, 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 BRP Group’s 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
Bonnie Bishop, Executive Director
Baldwin Risk Partners
(813) 259-8032 | IR@baldwinriskpartners.com
PRESS
Rachel DeAngelo, Communications Manager
Baldwin Risk Partners
(813) 387-6842 |
rdeangelo@baldwinriskpartners.com
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