NEW YORK – Aquiline, a global private investment firm, today announced that it has entered into a definitive agreement to sell Relation to BayPine.
Founded in 2007, Relation provides risk management and benefits consulting services nationwide, leveraging long-standing carrier relationships to deliver comprehensive insurance solutions across commercial P&C, employee benefits, personal lines, private client services, retirement solutions, and wealth management. Relation delivers specialized expertise and tailored solutions to clients of all sizes across a range of industry segments, including construction, transportation, agriculture, entertainment, healthcare, manufacturing, hospitality, and real estate. The company is headquartered in Chicago with more than 90 offices nationwide.
Since Aquiline’s initial investment in 2019, Relation has completed more than 100 acquisitions, executed a targeted broker recruitment strategy, diversified its product suite, and built differentiated specialty capabilities across several niche industries. A disciplined focus on integration and customer experience has been central to Relation’s ability to scale while maintaining strong client outcomes. Under the leadership of Chief Executive Officer Tim Hall, Relation has become one of the leading independent insurance brokers in the U.S., serving over 230,000 clients and more than 1,000 insurance markets with coast-to-coast coverage.
Thomas Lynch, Principal at Aquiline, said, “We are very excited to see Relation enter this next chapter of growth. It has been gratifying to support Tim and his team in transforming Relation into an industry leader. At Aquiline, we focus on building enduring businesses across insurance and financial services, and we are proud of the investments made in talent, infrastructure, and technology that have positioned Relation for continued success. We believe BayPine is an excellent partner for Relation’s future and look forward to watching the company continue to build on its strong foundation.”
Tim Hall, CEO at Relation, said, “Our team’s dedication to understanding each client’s unique needs and delivering personalized solutions has been the foundation of our success. We have made significant investments in integrating our platform and building the systems necessary to scale, and we are now poised to accelerate our growth trajectory. BayPine’s investment will allow us to continue to complete strategic M&A, recruit tremendous talent, and build out our specialty capabilities. Further, I am grateful to Aquiline and thank them for their support, which has been instrumental in Relation’s growth and success.”
Piper Sandler & Co. and Perella Weinberg are serving as financial advisors to Aquiline and Relation. Willkie Farr & Gallagher LLP is serving as legal advisor to Aquiline and Relation. Jamieson Corporate Finance is serving as advisor to Relation management. Kirkland & Ellis LLP is serving as legal advisor to BayPine.
Source: Aquiline Capital Partners LP
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