Needham, Massachusetts-based Kaplansky Insurance Agency has been acquired by the nationwide monetary providers agency Alera Group.
This new partnership brings greater than 100 brokers so as to add to Alera Group’s property/casualty choices within the Northeast.
The impartial company was based in 1974 in Brookline by Ely Kaplansky on the age of twenty-two. The company has grown into one of many largest privately held insurance coverage businesses within the Northeast. During the last 50 years, Kaplansky has accomplished 53 acquisitions and welcomed greater than 50,000 purchasers.
The company has 18 places in Massachusetts and Rhode Island. Final month, Kaplansky disclosed it recently bought two central Massachusetts insurance coverage businesses and a 3rd within the western a part of the state.
The Alera announcement mentioned that Kaplansky Company workers will proceed serving purchasers of their present roles.
Phrases of the transaction weren’t disclosed. MarshBerry Capital acted as monetary advisor to Kaplansky within the Alera transaction.
Illinois-headquartered Alera Group is a privately-held impartial monetary providers agency with $1.5 billion in gross income and 4,500 colleagues. Alera Group was formed in 2017 by the merger of 24 impartial insurance coverage agency and backing from Genstar Capital. In 2020 Alera acquired $150 million from The Carlyle Group to fund acquisitions.
On January 1 2025, Jim Blue, Alera Group president, turned Alera’s chief govt officer, succeeding Alan Levitz, who turned govt chairman.
Matters
Mergers & Acquisitions
Massachusetts
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