California brokerage expands with East Coast buy
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Relation Insurance Inc. has acquired family owned brokerage S.T. Good Insurance Inc., its fifth acquisition since it was bought by private equity investors earlier this year.
S.T. Good, which has 13 employees led by Jeffrey Good, is based in Newark, Delaware, Relation said Tuesday in a statement.
Walnut Creek, California-based Relation is the 38th-largest brokerage of U.S. business, according to Business Insurance’s latest ranking. The deal marks its first acquisition in the Delaware tristate region, Relation said in a statement.
Relation was bought by Aquiline Capital Partners LLC earlier this year and revealed plans to expand its operations nationally.
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Private equity firm acquiring insurance services broker
Aquiline Capital Partners LLC has agreed to buy Relation Insurance Services from private equity firms Parthenon Capital Partners and Century Equity Partners LLC, Aquiline and Relation said in a joint statement Thursday.
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