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Los Angeles-based Venbrook Group LLC said Wednesday it has acquired InterContinental Insurance Brokers LLC, a Boston-based property/casualty brokerage.
Terms of the deal were not disclosed.
The acquisition builds on Venbrook’s expertise in commercial real estate and private client risk management, the private equity-backed brokerage said in a statement.
Thomas E. Sleeper, IIB’s founder, will continue to lead its business and become managing director, Venbrook Insurance Services Northeast real estate.
IIB serves a range of clients from publicly traded real estate investment trusts to privately held large-scale multifamily housing portfolios. The brokerage has 20 employees, according to LinkedIn.
Private equity firm Parthenon Capital took a majority stake in Venbrook in 2020.
Woodland Hills, California-based Venbrook Group LLC said Wednesday it has acquired Alpharetta Underwriters LLC, a specialty managing general agent that focuses on excess and surplus coverage for the construction industry.