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BRP Group acquires California employee benefits agency


Tampa, Fla.-based insurance distributor BRP Group, Inc.’s subsidiary Baldwin Krystyn Sherman Partners LLC has acquired Irvin, Calif.-based Burnham Benefits Insurance Services, Inc. and Burnham Gibson Wealth Advisors, Inc., Global Legal Chronicle reports. The transaction includes an upfront cash consideration of $176.8 million, as well as 21,701 shares of BRP Group’s Class A common stock and 1,957,419 LLC units of BRP Group’s subsidiary, Baldwin Risk Partners, LLC.

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