JenCap Holdings (JCH) has agreed to acquire Special Risks Facilities (SRF), a Michigan-based MGA/contract binding authority and wholesale insurance brokerage firm.
SRF was formed in 1971 by Jack Klebba and Randy Kaszeta. Beginning as a two-man operation it now has a staff of 35 in two locations – Sterling Heights, Mich., and Peoria, Ariz.
The acquisition of SRF is the fifth transaction by JCH since the company was formed in 2016. The acquisition puts JCH among the largest wholesale brokers in the US, according to a news release.
“Jack Klebba and Randy Kaszeta have built a high-quality business, and we are excited that they have chosen JenCap to preserve Special Risks’ commitment to excellence and service to their clients,” said JCH President and CEO John F. Jennings. “We are excited to have Special Risks join our growing distribution platform.”
“We are very enthusiastic about the JenCap transaction,” said Kaszeta, SRF’s executive vice president. “Our thoughts on how to continue our growth matched up perfectly with the JenCap management model.”
“We wanted a partner that felt the same way about our commitment to clients, employees and carriers, and we realized early on that JenCap was the right fit,” said Klebba, SRF president.