Acquisition marks entry into rapidly growing industry, fueled by rise of e-commerce
BOSTON, MA--(Marketwired - May 24, 2017) - In a move that marks its first foray into the market, Risk Strategies Company today announced it has acquired Brightstone Insurance Services, a specialty broker focused on the needs of same-day transportation and logistics companies. Terms of the deal were undisclosed.
Established in 2010 by Howard and Peter Schlactus and Jeff Ice, Brightstone's growth has been fueled by the rapid delivery ecosystem supporting the accelerating rise of e-commerce. Within its focus industry, Brightstone's expertise has attracted a diverse client base, reflecting the evolving nature of the market, including expedited and restaurant delivery, courier services, logistics and record storage firms.
"Risk Strategies is building a company of true specialists," explains Michael Christian, Founder and CEO of Risk Strategies Company. "From its beginnings through today, Brightstone has exemplified the type of specialty capability that makes it a great fit for us, while also providing a foothold in an industry segment on the leading edge of our changing economy."
While primarily focused on transportation and logistics, Brightstone has developed complementary businesses in associated practice areas, including commercial lines and private client personal lines, which fits into and builds on existing Risk Strategies practice groups.
"As our target industries have grown and evolved, it's become more important to have the reach and resources of a national level firm," said Peter Schlactus, Managing Director, CIC, CRM, AAI at Brightstone. "Risk Strategies was our choice because it really understands how to convert the power of specialty expertise to our clients' advantage."
Brightstone operates in support of its national client base out of two main locations -- Cleveland, Ohio and New Rochelle, NY -- with approximately 50 employees between them.
"Being a specialist has been an incredible edge for us in winning business, and for our clients in the capabilities we bring to them," said Jeff Ice, Managing Director, CIC, Brightstone. "Being part of Risk Strategies will extend the range of specialty capabilities our clients can count on, as their needs evolve."
About Risk Strategies Company
Risk Strategies Company is a privately held, national firm with offices across the country. As a leading U.S. insurance broker, the company offers sophisticated risk management advice as well as insurance and reinsurance placement for property & casualty, healthcare and employee benefits risks. Risk Strategies serves commercial companies, non-profits, public entities and individuals, and has access to all major insurance markets. Ranked among the top 20 brokers in the country, Risk Strategies has offices in more than 35 locations nationwide including Boston, New York City, Chicago, Miami, Atlanta, Dallas, Nashville, Los Angeles and San Francisco.