US-based insurance brokerage firm Brown & Brown has agreed to acquire the assets of private equity specialist HAUSER for an unknown sum.
HAUSER offers insurance solutions for private equity groups and their portfolio companies inclusive of M&A advisory and due diligence services. It also provides insurance solutions for all aspects of business risk, employee benefits advisory services and 401(k) plan compliance.
Founded by the Hauser family, the company is led by Mark Hauser and James Stines.
Following the completion of the transaction, HAUSER will continue to operate from its base in Cincinnati, Ohio, under the leadership of James Stines.
Brown & Brown Retail Division president Barrett Brown said: “Mark and James have built an incredible team at HAUSER which provides best-in-class services for private equity firms and their portfolio companies.
“The ability to provide a continuum of services from initial due diligence to risk management solutions allows the HAUSER professionals to provide an incredibly high level of understanding, service and outcomes for their customers.”
Stines said: “This transaction represents an exciting new chapter for HAUSER. We are extremely proud of all we have accomplished, and we believe our partnership with Brown & Brown will enhance our ability to provide our clients and our private equity partners with the very best insurance and risk management solutions.”
The deal, pending certain closing conditions, is expected to close next month.
This March, Brown & Brown brokered a deal to acquire all assets of Loan Protector Insurance Services (LP Insurance).