Jencap Group LLC said Friday it has acquired specialty wholesale brokerage and managing general agency Russell Bond & Co.
Terms of the transaction were not disclosed.
Buffalo, New York-based Russell Bond will operate under the Jencap Specialty Insurance Services division. The Russell Bond website shows about 25 employees.
John F. Jennings, CEO of Jencap, said in the Friday statement the deal will expand the wholesaler’s geographic footprint.
Private equity investment firms Oak Hill Capital Partners and The Carlyle Group on Friday said they have formed a holding company that will house retail brokerage EPIC Insurance Brokers & Consultants and wholesaler and managing general agent JenCap Holdings LLC.