Baldwin Krystyn Sherman Partners Announces Acquisition
- April 29, 2019
Baldwin Krystyn Sherman Partners Announces Acquisition of Fellow Tampa-Native, Lykes Insurance Inc.
Tampa, FL -- Baldwin Krystyn Sherman Partners (BKS-Partners), an insurance brokerage and risk management firm headquartered in Tampa, FL, is pleased to announce its acquisition of Florida-based, independent firm, Lykes Insurance Inc. BKS-Partners currently operates in multiple locations throughout the Southeast with a team of over 300 colleagues. The partnership finalized on March 13, 2019.
Founded in 1925 by Lykes Bros. Inc., Lykes Insurance has long been recognized as a premier insurance brokerage focused on commercial risk insurance, surety bonds, employee benefits and private risk management. Lykes’ team of expert insurance professionals has been providing innovative risk management services to clients from their downtown Tampa, Ft. Myers and Orlando locations for 94 years.
“We believe the business and cultural combination of our respective teams will result in terrific alchemy for the combined firm,” said BKS-Partners Founding Partner, Lowry Baldwin. “Our colleagues have long held a great deal of respect for the Lykes team’s competitive fervor, their technical acumen and their consummate professionalism.”
BKS-Partners works with clients across the country and has recently been strategically expanding their footprint throughout the Southeast. The firm’s acquisition of Lykes Insurance comes in addition to multiple significant partnerships formed by BKS-Partners in 2018 which introduced the firm into Northeast Florida, Alabama, Georgia and Texas.
While growth via partnership remains a strategic initiative for BKS-Partners, their primary focus remains on providing best-in-class services and consistent results to clients.
“We’re very excited to blend these two storied and dynamic agencies together,” said Bill Taulbee CEO and President of Lykes Insurance. “The combination of our two firms’ expertise and experience will prove to benefit our valued clients with innovative and solution-oriented resources as well as risk financing techniques which will allow them to efficiently and effectively manage their exposures.”
“We have always admired Lykes Insurance as a friendly competitor and are thrilled to have them join the family,” added Baldwin Risk Partners President, Trevor Baldwin. “The addition of Lykes’ talented team reinforces our commitment to remain fiercely independent and adds to our ability to help clients at every stage.”
In addition to a focus on client service capabilities, workplace culture has played a vital role in the continued success of BKS-Partners. The firm has recently been recognized as a Best Place to Work by Insurance Journal, the Best High-Net-Worth Insurance Broker in the nation by PAM Awards, as well as Best Insurance Agency to Work for by Insurance Journal.
“We are extremely proud to be partnering with this outstanding team.” said John Valentine, Chief Partnership Officer of BKS-Partners’ holding firm, Baldwin Risk Partners. “The combination of Lykes and BKS-Partners brings together two pre-eminent independent firms in Florida.”
The transition to the Baldwin Krystyn Sherman platform is in progress and clients should expect a seamless transition in terms of service and accessibility. Lykes Insurance clients should expect to see the BKS name as the transition progresses.
"Our two groups share a common philosophy around the right way to serve our clients and communities’” concluded Jeremy Miller, Director of Operations at Lykes. “Together, we will be even more capable of holistically enhancing our services and deliver on our promises to our stakeholders.”