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Brokerage BRP Group Inc. said Monday that it has agreed to buy South Dennis, Massachusetts-based RogersGray Inc. and two related brokerages with combined revenues of about $38.8 million.
The purchase will be made by two of BRP’s indirect subsidiaries, Baldwin Krystyn Sherman Partners LLC and Millennia Specialty Insurance LLC, and will include RogersGray Inc., Breakwater Brokerage LLC and Monomoy Insurance Group, according to a BRP statement.
RogersGray and its affiliates provide commercial and personal lines coverage and employee benefits insurance to large and mid-sized companies and individuals and have annual revenues, BRP said.
Terms of the transaction were not disclosed.
RogersGray President and CEO David Robinson and Chairman Michael Robinson will serve as co-regional presidents of the New England region within BRP Group’s middle-market operating group, the statement said.
BRP unit Baldwin Risk Partners LLC ranked 32 among the top 100 U.S. brokers, according to Business Insurance’s 2020 ranking.
BRP, which has made several acquisitions since going public in 2019, said in February that Baldwin Kristyn Sherman will acquire Atlanta-based Tanner, Ballew & Maloof Inc.