Private equity firm Genstar Capital LLC has acquired Acrisure, a retail insurance brokerage company.
Grand Rapids, Mich.-based Acrisure provides property and casualty, employee benefits, human resource outsourcing, loss and claim management, surety bonding and personal lines coverage. The company has completed 26 acquisitions since it was founded in 2005.
Genstar sold off insurance company Confie Seguros in November 2012, after it had completed 38 add-on acquisitions. Confie was run by John Addeo, who will join Acrisure’s board.
San Francisco-based Genstar is currently invested in Innovative Aftermarket Systems, Insurity and Granite Global Solutions.
AcquiGrowth Capital advised Genstar,and Dowling Hales was Acrisure’s financial adviser for the transaction. Ropes & Gray LLP served as Genstar's counsel. Terms were not disclosed.