GTCR Announces Partnership with Jim Henderson and Tom Riley to Form Assured Agencies
March 1, 2011
GTCR, a leading private equity firm, today announced it has entered into a partnership with Jim Henderson and Tom Riley to form Assured Agencies (“Assured”). The new company, headquartered in Lake Mary, Florida, will focus on building a leading middle-market insurance brokerage firm. GTCR, the firm that pioneered the Leaders Strategy of partnering with proven executives in growing industries to create market-leading companies, plans to invest up to $250 million of equity capital to support the strategy.
Mr. Henderson, a 35-year insurance industry veteran, was formerly vice chairman and COO of Brown & Brown, a leading insurance brokerage firm. There, he executed numerous acquisitions and had operating responsibilities over various business segments. Throughout Mr. Henderson’s impressive career, he has developed extensive experience within the industry. Mr. Henderson will serve as CEO. Mr. Riley will join Assured as COO and president. Mr. Riley spent 21 years at Brown & Brown, where he was most recently regional president and chief acquisition officer.
“We believe this is an attractive time to invest in the insurance brokerage industry,” Mr. Henderson said. “The middle-market insurance brokerage marketplace provides significant opportunity for consolidation. There are a large number of agencies looking to take their business to the next level, and I am excited to begin exploring investment opportunities with quality agencies. GTCR’s track record of working with management teams to invest in growth and build leading companies makes them the ideal partner for this venture.”
“We are excited to partner with Jim and Tom,” said Aaron Cohen, vice president at GTCR. “Their experience in acquiring and leading businesses in the sector is top-notch. We look forward to building a leading insurance brokerage firm through acquisitions and organic growth.”
“GTCR has deep sector expertise in the insurance brokerage industry, and Jim and Tom’s proven success in this industry make them the ideal leaders for Assured Agencies,” said David Donnini, a GTCR principal. “This is another great example of GTCR’s strategy of partnering with proven leaders to build companies in attractive industries.”
GTCR is currently investing its 10th fund, a private equity fund with $3.25 billion of committed capital.
About Assured Agencies
Assured Agencies, headquartered in Lake Mary, Florida, acquires and invests in property and casualty and employee benefits brokerage businesses across the country. Jim Henderson can be contacted at 407.562.1933 or firstname.lastname@example.org. Tom Riley can be contacted at 407.562.1680 or email@example.com. For more information, please visit www.assuredagencies.com.
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare and Information Services & Technology industries. The Chicago-based firm pioneered the “Leaders Strategy”—finding and partnering with exceptional leaders as the critical first step in identifying, acquiring and building market-leading companies through acquisitions and organic growth. Since its inception, GTCR has invested more than $8.5 billion in more than 200 companies. For more information, please visit www.gtcr.com.