American speciality insurance brokerage and risk management company Risk Strategies has acquired Oregon-based full-service retail agency Bisnett Insurance.
The companies did not disclose the financial details and other terms of this transaction.
Dowling Hales served as Bisnett Insurance’s exclusive financial adviser for this deal.
The acquisition will allow Risk Strategies’ to expand its presence in the Pacific Northwest region of the country.
This deal builds on Risk Strategies’ previous acquisition of Fournier Group, an Oregon-headquartered full-service commercial and personal lines retail insurance agency.
Risk Strategies West regional leader Pat Roth said: “We are excited to expand our presence in the Northwest with the addition of Bisnett.
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“Their collaborative culture and deep expertise in many key industries and product lines is a great fit with our operations.”
Based in West Linn, Oregon, Bisnett was founded in 1982 by its current chairman Roger Bisnett.
The company specialises in providing commercial lines, personal lines and other employee benefits products to its customers from multiple industries, including real estate, construction, retail, hospitality, public entities, and non-profit organisations, among others.
Bisnett’s product offerings include home, auto, health, business, and life.
It currently has operations in the Pacific Northwest region of the US, which includes Oregon, Arizona, and Idaho.
Since its inception, Bisnett has strengthened its regional growth and expertise in multiple sectors through 14 merger and acquisition deals.
Bisnett Insurance president Helen Edgington said: “We found a perfect fit in Risk Strategies. Like us, they understand the power of collaboration, are team-focused and build strong relationships with their employees and clients.
“By joining Risk Strategies, we maintain our local presence while strengthening our capabilities to better support our clients.”
Recently, Risk Strategies acquired First Insurance Group to expand its footprint in Ohio, US.