Aquiline Capital snaps up US insurance broker Relation
Private equity firm Aquiline Capital Partners is acquiring US broker Relation Insurance Services from PE firms Parthenon Capital and Century Equity Partners.
Relation will maintain its corporate headquarters in Walnut Creek, California, under the continued leadership of CEO Joe Tatum, president and COO Ed Page, and the rest of the management team.
The transaction is expected to be completed in the first half of 2019.
“Under the leadership of Joe Tatum and Ed Page, Relation Insurance Services has established itself as a highly respected brokerage with significant opportunities for continued organic and acquisition-based growth,” said Jeff Greenberg, chairman and chief executive officer of Aquiline. “We look forward to supporting Joe, Ed and the Relation team during this next phase of expansion.”
Tatum said: “Our goal is to continue driving strong organic growth alongside strategic acquisitions, sustained by Aquiline’s strong commitment to our mission and value proposition. We are excited to partner with them to further expand our portfolio, increase our geographic reach and continue to build on our customer relationships.”
Page added: “This transaction represents a validation of the value we have built at a key moment in the company’s development. Aquiline will provide us with the strategic, financial and operational capabilities needed to scale our business by continuing to develop our infrastructure, creating innovative product offerings, enhancing customer service and expanding our footprint nationwide. We look forward to the endless opportunities that lie ahead.”
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