Brown & Brown acquires private equity specialist

Brown & Brown Inc. has agreed to buy Hauser Inc., a brokerage that focuses on placing coverage for private equity groups, Brown & Brown announced Monday.

Terms of the deal, which is expected to close in September, were not disclosed.

Hauser, which places property/casualty and employee benefits business, will continue to operate from its headquarters in Cincinnati and be led by managing partner James Stines, the statement said.

Brown & Brown is the sixth-largest brokerage in the world, according to Business Insurance’s most recent ranking.