02 Jun BRP Group, Inc. Announces Acquisition of Rosenthal Bros., Inc.
Expands BKS-Partners’ P&C Insurance Footprint
TAMPA, Fla., June 01, 2020 — BRP Group, Inc. (“BRP Group” or the “Company”) (NASDAQ: BRP), a rapidly growing independent insurance distribution firm delivering tailored insurance solutions, today announced that Baldwin Krystyn Sherman Partners, LLC (“BKS-Partners”), the middle-market subsidiary of BRP Group, has acquired substantially all assets of Rosenthal Bros., Inc. (“Rosenthal Brothers”), a Chicago-based provider of P&C insurance, employee benefits and private client solutions to middle market companies and individuals. Rosenthal Brothers generated annual revenues of approximately $18.8 million.
Since its founding, Rosenthal Brothers has grown its business to approximately 55 employees across two offices. In particular, Rosenthal Brothers specializes in providing insurance solutions for the real estate industry with a stellar reputation in large habitational real estate. Following this Partnership, Rosenthal Brothers will be rebranded under the Company’s BKS-Partners banner.
“Partnering with Rosenthal Brothers, a premier independent firm, significantly boosts our P&C and full-service insurance solution capabilities, particularly within the real estate sector, and gives us a major platform to build on in the important Chicago market,” said Trevor Baldwin, Chief Executive Officer of BRP Group. “The Rosenthal team is highly specialized and boasts a hungry Risk Advisor team that has been the driving force behind Rosenthal’s consistent growth. Knowing the level of talent, Rosenthal’s sterling reputation and their ongoing growth opportunities, we are excited to add the Rosenthal team to the BRP family.”
“Joining BRP Group was a natural strategic fit for Rosenthal Brothers, as we already have a common client-centric philosophy, culture and entrepreneurial spirit,” said Michael Minsky, Partner at Rosenthal Brothers. “We’ve built an amazing insurance firm that has served the Chicagoland region, and we’re excited to align with BRP and leverage their innovative service platform and their wealth of complementary tools and capabilities, which will allow us to enhance our existing client relationships, generate new business and take us to the next level. We expect a smooth transition with BKS-Partners for our current clients, and our team will naturally benefit from the new career development opportunities available to them.”
BKS-Partners works with clients across the country, providing them with best-in-class services and innovative risk solutions, and has been strategically expanding its geographic reach throughout the U.S.
WEBCAST AND CONFERENCE CALL INFORMATION
On June 1, 2020, BRP Group also announced that BKS-Partners acquired substantially all assets of Trinity Benefit Advisors, Inc. and Russ Blakely & Associates, LLC (“TBA-RBA”), Tennessee-based providers of employee benefit plan management, as well as marketing and benefit plans designed for middle-market companies. BRP Group will host a webcast and conference call to discuss both the Rosenthal Brothers and TBA-RBA acquisitions on Tuesday, June 2, 2020 at 8:30 AM ET. A live webcast and a slide presentation will be available on BRP Group’s investor relations website at ir.baldwinriskpartners.com. The dial-in number for the conference call is (877) 451-6152 (toll-free) or (201) 389-0879 (international). Please dial the number 10 minutes prior to the scheduled start time.
A replay will be available following the end of the call through Tuesday, June 16, 2020, by telephone at (844) 512-2921 (toll-free) or (412) 317-6671 (international), passcode 13704474. A webcast replay of the call will be available at ir.baldwinriskpartners.com for one year following the call.
ABOUT BRP GROUP, INC.
BRP Group, Inc. (NASDAQ: BRP) is a rapidly growing independent insurance distribution firm delivering tailored insurance and risk management insights and solutions that give our clients the peace of mind to pursue their purpose, passion and dreams. We are innovating the industry by taking a holistic and tailored approach to risk management, insurance and employee benefits, and support our clients, Colleagues, Insurance Company Partners and communities through the deployment of vanguard resources and capital to drive our growth. BRP represents over 400,000 clients across the United States and internationally. For more information, please visit www.baldwinriskpartners.com.
About Rosenthal Bros., Inc.
Rosenthal Brothers has been redefining the best practices and standards of the insurance industry. Centrally headquartered in the Midwest, we pride ourselves on relationships we’ve developed that have since expanded to many areas across the country. Our time-proven corporate structure emphasizes a synergistic team approach that enables us to actualize our clients’ insurance and financial goals. We are dedicated to exceeding your expectations for today and to help you realize your vision for tomorrow. Learn more at www.rosenthalbros.com.
BKS-Partners is an award-winning entrepreneur-led and inspired insurance brokerage firm delivering expertly crafted Commercial Insurance and Risk Management, Private Insurance and Risk Management, Employee Benefits and Benefit Administration, Asset and Income Protection, and Risk Mitigation strategies to clients wherever their passions and businesses take them throughout the U.S. and abroad. BKS-Partners has award-winning industry expertise, colleagues, competencies, insurers, and most importantly, a highly differentiated culture that our clients consider an invaluable expansion of their business. Learn more about BKS-Partners at www.bks-partners.com.