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AssuredPartners Inc. has acquired Rand-Tec Insurance Agency, AssuredPartners said in a statement Monday.
Terms of the deal were not disclosed.
Todd Silver, president of Vernon Hills, Illinois-based Rand-Tec, will continue to lead the staff of 24 at the broker, which reports $8 million in annualized revenues, the statement from Lake Mary, Florida-based AssuredPartners said.
“We feel this is a great partnership as we expand in the Illinois marketplace,” Todd Stocksdale, AssuredPartners regional president, said in the statement.
AssuredPartners ranked 12th in the most recent Business Insurance rankings of the top 100 U.S brokers by revenue generated by U.S.-based clients.
Private equity-backed brokerage AssuredPartners Inc. on Friday said it has acquired Star & Shield Insurance Services LLC, a Tallahassee, Florida-based agency that provides coverage for first responders and their families.