US-based insurance brokerage King Risk Partners has expanded its presence in New England through the acquisition of Acacia Insurance, an independent agency based in Waltham, Massachusetts.
Financial specifics of the deal remain undisclosed.
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The transaction is intended to increase King Risk Partners’ presence in Massachusetts in line with its strategy of expanding through selected acquisitions.
Acacia Insurance operates from Waltham and has provided services to clients throughout New England for more than 30 years.
The agency works with both individuals and businesses, arranging insurance cover for homes, motor vehicles, high-value possessions and a variety of business risks that require specialised solutions.
Acacia Insurance principals Adam Ellis and Dan Frankel commented: “Joining King Risk Partners is an outstanding opportunity for our team and clients.
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By GlobalData“We share a dedication to integrity, accountability and excellence. With access to King’s extensive infrastructure and resources, our clients will gain an even broader range of options, while we are able to devote even greater attention to providing the personalised support they value.”
The acquisition will extend King Risk Partners’ reach in the north-eastern US by bringing Acacia under its umbrella, while offering insurance options to clients.
King Risk Partners CEO Scott Popilek commented: “Acacia’s commitment to making the unexpected uneventful for its clients resonates deeply with our mission.
“We are delighted to welcome the Acacia team into the King family. By combining our scale and capital with Acacia’s local reputation and hands on approach, we will deliver a unique value proposition to the New England market.”