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Risk Management

AssuredPartners purchases broker Neace Lukens Holding Co.

Michael Bradford

August 10, 2011 Reprints

Agents & Brokers Mergers & Acquisitions More + Less -

LOUISVILLE, Ky.—Neace Lukens Holding Co., a Louisville, Ky.-based broker, has been acquired by private equity firm AssuredPartners Inc.

Neace Lukens plans to use proceeds from the deal to expand from its status as a regional broker status to a nationwide firm, the company confirmed Wednesday. The brokerage, with 2010 revenue of $86 million, was ranked 24th in Business Insurance’s annual listing of the largest U.S. brokers.

Terms of the deal were not released. The transaction is expected to close by the end of this month.

AssuredPartners, based in Lake Mary, Fla., invests in property/casualty and employee benefits brokerages, according to the company’s website.

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AssuredPartners purchases broker Neace Lukens Holding Co.

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