BRP agrees to buy Wood Gutmann & Bogart
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BRP Group Inc. said Monday that through indirect subsidiaries including Burnham Benefits Insurance Services LLC it has agreed to acquire Wood Gutmann & Bogart Insurance Brokers.
Terms of the transaction, expected to close on or around Dec. 1, 2021, were not disclosed.
Tustin, California-based Wood Gutmann is a middle-market brokerage that provides commercial insurance, employee benefits and private client services. Among the markets it serves are food and beverage, construction, real estate, technology, manufacturing, security and environmental, BRP said in a statement.
Wood Gutmann’s commercial insurance and private client services practices will operate as Burnham WGB Insurance Solutions, and its employee benefits practice will operate under the Burnham Benefits name.
Approximately 130 Wood Gutmann staff will join Burnham’s 150 employees, adding “meaningful scale to BRP Group’s West Coast operations, the statement said.
BRP Group CEO Trevor Baldwin said in the statement the deal adds “critical commercial insurance expertise to our West Coast operations.”
Burnham is based in Irvine, California. BRP Group, which announced two other deals last week, is based in Tampa, Florida.
