Risk Strategies, a national insurance brokerage and risk management firm, has today announced its acquisition of Securitas Insurance Partners, LLC, a specialty insurance brokerage focused on the retail insurance and risk management needs of venture capital and private equity backed portfolio companies
Securitas, which is based just outside of Philadelphia, is a market leader in its specialty, with national and international clients in life science, healthcare, technology, new energy and financial services. The firm offers a range of solutions for local, national and international clients during all growth stages, including: tailored insurance programs for emerging companies, corporate risk management programs, professional risk solutions, employee benefits, pre-transaction insurance program due diligence, executive protection, and more.
Risk Strategies CEO John Mina described Securitas as “a great fit for our growing national Private Equity practice,” which experienced a boom in 2019 following the acquisition of private equity specialist, Krauter & Company. He added: “Companies that are part of a private equity or venture capital investment portfolio, or simply focused on growing through acquisition, face complicated and often high stakes risks. Securitas is a leader in identifying and mitigating these risks.”
Neil Krauter, Risk Strategies’ Private Equity practice leader, added: “I […] look forward to joining forces to the benefit of our mutual client base. The strategic fit could not be more seamless, and our teams are perfectly aligned for growth.”
Securitas typically works with its clients throughout the life cycle of their investment, supporting acquisitions and divestitures, as well as the ongoing programmatic insurance needs of the portfolio companies. The firm is dedicated to its “specialty approach” and is excited to team up with Risk Strategies, according to founder and managing partner Michael McFadden.
“Managing the evolving risk and insurance needs of investment portfolio companies is not a job for a generalist,” he said. “We saw joining Risk Strategies as a seamless way to scale up our specialty approach with a firm equally experienced in this space.”
Terms of the deal have not been disclosed.