TAMPA, Fla., July 23, 2021 (GLOBE NEWSWIRE) — BRP Group, Inc.(NASDAQ: BRP), an independent insurance distribution firm delivering tailored insurance solutions, through its indirect subsidiaries, today has entered into an agreement to acquire substantially all assets of TCG Financial Holding Company, LLC and certain of its subsidiaries, a Bethesda, Maryland-based provider of employee benefits consulting, retirement consulting, wealth management and commercial lines insurance brokerage services to small and mid-sized companies and individuals. The Partnership, BRP Group’s nomenclature for a strategic acquisition, is expected to close on or around August 1, 2021, subject to certain closing conditions.
Over its history, The Capital Group has delivered an impressive track record of revenue growth by offering clients a true “one-stop-shop” platform to meet their short and long-term insurance, employee benefits and financial goals. This Partnership, which brings with it over 50 colleagues, adds scale and density in the critical D.C. Metro region. In addition, The Capital Group brings to BRP Group deep industry expertise in the Government Contracting, Technology and Non-Profit verticals.
“The Capital Group is one of the top independent firms in the D.C. Metro region, and we are thrilled to welcome them to the BRP Group family,” said John Valentine, Chief Partnership Officer of BRP Group. “The Capital Group significantly boosts our employee benefits, wealth advisory and retirement plan consulting capabilities, and we believe a tremendous opportunity exists to combine forces with our partners at AHT to provide a holistic suite of risk management solutions to the D.C. Metro market. The Capital Group’s team of professionals, coupled with their relentless focus on clients and results has enabled their strong growth and makes them a clear fit with BRP Group.”
“We are thrilled to be joining forces with BRP Group and look forward to continuing to build a tremendous business in D.C. and the surrounding region. We have assembled an amazing team here that consistently delivers to our clients the professional value they expect and deserve. With BRP Group, we see an alignment of values that gives us confidence that the client will always come first. We are excited to be partnering with BRP Group as we continue on our growth path and look forward to our colleagues sharing in the success,” said Chris Staub, Managing Partner of The Capital Group.
“Throughout our journey at The Capital Group, we’ve been blessed with some of the greatest colleagues, clients and relationships that an organization could ever ask for. We look forward to working in the BRP Group national sandbox and sharing with the entire platform our expertise in the Government Contracting space,” said Kevin FitzPatrick, Co-Founder and Senior Partner of The Capital Group. Joseph Apa, Co-Founder and Senior Partner of The Capital Group, concluded, “Our potential through this partnership with BRP Group is greater than the sum of the parts – together, we will be able to better serve the non-profit, government contracting and technology communities.”
MarshBerry acted as exclusive financial advisor to The Capital Group in the transaction.
ABOUT BRP GROUP, INC.
BRP Group, Inc. (NASDAQ: BRP) is an independent insurance distribution firm delivering tailored insurance and risk management insights and solutions that give our clients the peace of mind to pursue their purpose, passion and dreams. We are innovating the industry by taking a holistic and tailored approach to risk management, insurance and employee benefits, and support our clients, Colleagues, Insurance Company Partners and communities through the deployment of vanguard resources and capital to drive our growth. BRP Group represents over 600,000 clients across the United States and internationally. For more information, please visit www.baldwinriskpartners.com.
ABOUT TCG FINANCIAL HOLDING COMPANY, LLC (OPERATING AS THE CAPITAL GROUP)
Headquartered in Bethesda, Maryland, The Capital Group is an independent insurance and financial services firm. Over the years, The Capital Group has become a superior partner to middle-market clients in the areas of Employee Benefits, Retirement Plan Consulting, Wealth Advisory, and Risk Management. Specializing in the Government Contracting, Technology, and Non-Profit sectors, they have built a highly respected firm servicing over 1,000 business clients and 300 personal clients. Seeded with a great combination of experienced professionals and young talent, The Capital Group is looking forward to the great partnership with BRP Group to further the depth of resources and to continue to develop long-term client relationships. For more information, please visit https://www.capgroupfinancial.
