TUSTIN, Calif., Jan. 10, 2022 /PRNewswire/ -- Performance
Bonding Surety & Insurance Brokerage, L.P. ("Performance
Bonding") is pleased to announce that its business will now be
operated within the BRP Group, Inc. ("BRP Group") (NASDAQ: BRP)
family through BRP Group's previously announced Partnership, BRP
Group's nomenclature for a strategic acquisition, with Wood Gutmann
& Bogart Insurance Brokers and certain of its affiliates and
related entities (collectively, including Performance Bonding,
"WGB"), which closed on December 1,
2021. BRP Group is an independent insurance
distribution firm delivering tailored insurance solutions.
With a strong foundation in surety company underwriting criteria
and practices, Performance Bonding provides contract, commercial
and miscellaneous surety bonds across a broad client base,
including general contractors, subcontractors, developers, service
industry professionals, private equity firms and publicly-traded
entities.
"This Partnership with Performance Bonding through WGB will add
critical bonding and commercial insurance expertise to
our national practice," said Trevor Baldwin, Chief
Executive Officer of BRP Group. "Performance Bonding is
highly-respected in their industry, and we are thrilled to welcome
their team of experts into the BRP Group family."
"Performance Bonding could not be more excited to be joining
forces with the highly-respected BRP Group organization and their
brokerage Partners," said Erik
Johansson, previously President of Performance Bonding who
will serve as a Partner of Baldwin Krystyn Sherman Partners, LLC (a
subsidiary of BRP Group) following the Partnership. "We believe
this Partnership will enable Performance Bonding to continue to
grow while providing expanded resources and expertise to our
clients. We look forward to continuing the expansion of our
National and Global Surety brokerage platform with an organization
that shares a common culture and desire to provide best-in-class
service to their Colleagues, Clients, and Carrier Partners."
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 700,000 clients across
the United States and
internationally. For more information, please
visit www.baldwinriskpartners.com.
ABOUT PERFORMANCE BONDING SURETY & INSURANCE BROKERAGE,
L.P.
Performance Bonding has a combined 60+ years of surety
experience, and an extensive resume of managing bond programs for
notable clients in various industries. They specialize in creating
custom surety solutions for their clients and insurance brokerage
partners.
Performance Bonding is a full-service national surety brokerage
offering surety solutions for commercial, contract, and developer
bond needs for private equity-owned firms, publicly-traded
entities, and closely held private companies. Founded in 2014 and
headquartered in Orange County,
California, Performance Bonding provides a complete range of
surety products and services, with access to every major surety
carrier in the nation.
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.
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SOURCE Baldwin Risk Partners