Baldwin Krystyn Sherman Partners (BKS-Partners, a subsidiary of insurance firm BRP Group, has acquired substantially all assets of Rosenthal Bros for an undisclosed sum.
The acquired business is a Chicago-based provider of P&C insurance, employee benefits and private client solutions to middle market companies and individuals.
It specialises in offering insurance solutions for the real estate industry with a strong reputation in large habitational real estate.
It employs 55 people across two offices and posted annual revenues of approximately $18.8m.
Following the acquisition, Rosenthal Brothers will be rebranded under BRP Group’s BKS-Partners banner.
BRP Group CEO Trevor Baldwin said: “Partnering with Rosenthal Brothers, a premier independent firm, significantly boosts our P&C and full-service insurance solution capabilities, particularly within the real estate sector, and gives us a major platform to build on in the important Chicago market.”
Rosenthal Brothers partner Michael Minsky said: “Joining BRP Group was a natural strategic fit for Rosenthal Brothers, as we already have a common client-centric philosophy, culture and entrepreneurial spirit.
“We’ve built an amazing insurance firm that has served the Chicagoland region, and we’re excited to align with BRP and leverage their innovative service platform and their wealth of complementary tools and capabilities, which will allow us to enhance our existing client relationships, generate new business and take us to the next level.”