Lake Mary, Fla.-based AssuredPartners Inc., through its Neace Lukens platform, has completed the acquisition of Creech & Stafford Insurance Agency Inc. in Kentucky. The terms of the transaction were not disclosed.
Creech & Stafford specializes in business insurance, including workers’ compensation, liability and group employee benefit plans; personal insurance, including home, automobile and renters’ insurance; and life and health services, including life insurance and long-term care.
Formed in 1982, Creech & Stafford has locations in Lexington and Hazard, Ky. It reports approximately $3.1 million in revenue. The firm is led by partners Lloyd Stafford and Doug Creech.
As part of the acquisition, 18 Creech & Stafford Insurance Agency employees will join Neace Lukens. Creech & Stafford Insurance Agency’s Lexington office will merge with the existing Neace Lukens Lexington branch in summer 2014. The Neace Lukens Lexington office operates under the leadership of Managing Director Bryan Raisor. Neace Lukens offers commercial property and casualty insurance, employee benefits programs, risk management consulting and personal insurance services.
AssuredPartners is a portfolio company of Chicago-based private equity firm GTCR. AssuredPartners acquires and invests in insurance brokerage businesses (property/casualty, employee benefits, surety, MGA/wholesalers) across the United States and in London. From its founding in 2011, AssuredPartners has grown to $325 million in annualized revenue, with more than 80 offices in 26 states and a London office.
Neace Lukens, which became an AssuredPartners company in September 2011, is headquartered in Louisville, Ky., and has more than 35 offices throughout Kentucky, Ohio, Indiana, Illinois, Michigan, Tennessee, Georgia, Arkansas, Florida, Mississippi, Louisiana and South Carolina.
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