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Boston-based Risk Strategies Co. Inc. said on Tuesday it has acquired Krauter & Co. LLC, a New York-based brokerage that specializes in placing the risks of private equity firms and their portfolio companies.
Terms of the deal were not disclosed.
Founded in 2004, Krauter & Co. has 70 staff located in nine offices across the United States, all of whom are joining Risk Strategies, a company spokeswoman said.
With more than 185 private equity firms and thousands of portfolio companies among its client base, Krauter & Co. is known for designing and placing tailored transactional risk products, such as representations and warranties coverage and tax opinion insurance, Risk Strategies said in its statement.
Krauter & Co. also works with other industries including accounting, airlines, staffing and restaurants, according to the statement.
Risk Strategies is the 17th largest brokerage of U.S. business with about $260 million in brokerage revenue, according to Business Insurance’s latest ranking.
Risk Strategies Co. Inc. said Monday that it has acquired reinsurance specialist Re-Solutions Intermediaries L.L.C.