Relation buys three agenciesPosted On: Mar. 10, 2021 11:31 AM CST
Private equity-backed Relation Insurance Inc. this week announced the purchase of two agencies in Texas and one in Arkansas, adding about 30 staff to the brokerage.
Terms of the deals were not disclosed.
On Tuesday, Walnut Creek, California-based Relation said it had bought InSource Insurance Agency Inc. in San Antonio and Shepard Insurance Agency in McAllen, Texas.
Both agencies place commercial and personal lines coverage for clients in south Texas, including for energy, transportation and logistics companies, a Relation statement said.
InSource has 10 staff and Shepard has 17, a Relation spokeswoman said.
On Wednesday, Relation announced it had bought Rogers, Arkansas-based The McKinney Group, a personal lines and commercial agency with seven staff, which does business as McGhee Insurance Northwest Arkansas.
Relation, which was bought by Aquiline Capital Partners LLC in 2019, is the 37th largest brokerage of U.S. business, according to Business Insurance’s most recent ranking.