BRP Group, Inc. Announces Acquisition of Southern Protective Group
Deepens BKS Healthcare Expertise
TAMPA, FL — BRP Group, Inc. (“BRP Group” or the “Company”) (NASDAQ: BRP), a rapidly growing independent insurance distribution firm delivering tailored insurance solutions, announced that Baldwin Krystyn Sherman Partners, LLC, the middle market subsidiary of BRP Group (“BKS-Partners”), has acquired substantially all assets of Atlanta-based Southern Protective Group, LLC (“SPG”), an independent insurance firm specializing in medical malpractice solutions. SPG generated annual revenues of approximately $2 million.
SPG advises clients throughout the U.S., distributing its risk management offerings to a broad range of physician groups and associations. Through its deep expertise in healthcare, SPG has developed high-quality and long-term client relationships, as well as strong revenue growth in recent years. Following this Partnership, SPG will be rebranded under the BKS-Partners banner.
“We are pleased to welcome SPG to the BKS-Partners platform, and are excited to be able to offer additional medical malpractice insurance and risk management solutions to our client base,” said Kelly Nash, Regional President of BKS-Partners. “SPG’s growth, product suite, nationwide distribution and excellent reputation are a natural fit to augment our expertise and current product offerings.”
“We are excited to join BRP Group and its BKS-Partners platform, as we believe our medical malpractice solutions are a clear fit. BKS-Partners provides us with a prime opportunity to take our growth to the next level,” said Gregg Schieffelbein, Partner at SPG. “We anticipate a smooth transition, and we are excited to be able to provide additional capabilities to our current clients, while being able to expand our reach to potential new clients via enhanced visibility and brand recognition.”