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Acquisitive brokerage Alera Group LLC said on Tuesday it has acquired Capstone Insurance Services LLC, a broker specializing in the transportation sector.
Terms of the transaction were not disclosed.
Toms River, New Jersey-based Capstone’s programs include coverage designed for Amazon.com Inc. delivery service providers, FedEx Corp. ground contractors and line haul transportation contractors, an Alera statement said.
Capstone’s employees are expected to continue in their existing roles.
Alera is the 15th largest broker of U.S. business according to the most recent Business Insurance ranking. It was the seventh most acquisitive brokerage in 2022, according to an analysis by Optis Partners LLC.