BOSTON, May 29, 2019 (GLOBE NEWSWIRE) -- Risk Strategies, a privately held, rapidly growing national insurance brokerage and risk management firm, today announced it has acquired MainStreet Consulting Group, a north Houston-based brokerage. Terms of the deal were not disclosed.
Established in 2003 and headquartered just outside of Houston in Conroe, TX, MainStreet Consulting Group is primarily focused on placing a wide variety of coverage types for commercial clients. In its commercial business, MainStreet services clients in a variety of industries, from manufacturing to construction. While many are well-represented in Risk Strategies’ current client base, a number represent new fields for the company, including the energy industry, a major business in Texas.
“MainStreet is a great fit for our company as we build out our presence in Texas,” said John Vaglica, Risk Strategies’ Chief Financial Officer. “We’re particularly excited that this acquisition will provide Risk Strategies entry into the energy space for the first time and do so with a highly qualified team.”
In addition to commercial property & casualty, MainStreet does substantial business helping commercial clients develop alternatively funded employee benefits programs. The company also has an active practice providing personal lines clients with insurance placement and risk management advisory services.
“Joining up and becoming part of Risk Strategies was a winning idea as we sought ways to expand our business and provide deeper expertise for clients in today’s rapidly changing business world,” said MainStreet Consulting Group President and CEO, Dee VanSchoick, Jr.
Risk Strategies entered the state of Texas in 2016 when it acquired McLaughlin-Brunson, a specialty brokerage focused on professional liability and other risk issues for architectural, engineering and design firms. That acquisition was followed in 2017 with the purchase of Terrell Insurance Services, Inc., a private lines specialty agency. In 2018, Risk Strategies acquired Select Insurance Markets, LLP (SIM) and Preferred Personal Insurance Agency, LLP (PPIA). The SIM-PPIA acquisition added new resources and capabilities to Risk Strategies’ national private client practice in both the wholesale and retail capacities.
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About Risk Strategies
Risk Strategies 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 70 locations nationwide including Boston, New York City, Chicago, Minneapolis, Miami, Atlanta, Houston, Dallas, Nashville, Los Angeles and San Francisco.