Patriot Growth buys Pennsylvania broker

Patriot Growth Insurance Services LLC said Wednesday it has acquired The Safegard Group Inc., based in Media, Pennsylvania.

Terms of the transaction were not disclosed.

Safegard’s 56 employees and its leadership, including chairman Bob Donato, CEO Bill Donato and president Bill Calderaro, will remain in their roles, Patriot said in a statement.

Founded in 1994, Safegard serves the Pennsylvania, New Jersey and Delaware market and specializes in the alternative risk management, including captives and risk retention groups.

The deal “meaningfully” expands Patriot’s geographic presence into the Philadelphia region, the statement said.

Fort Washington, Pennsylvania-based Patriot is the 37th largest broker of U.S. business according to the most recent Business Insurance rankings.