Risk Strategies Acquires MainStreet Consulting Group
Expands Texas footprint with brokerage offering business coverage, benefits planning and risk management services
BOSTON, May 29, 2019 -- Risk Strategies, a leading national specialty insurance brokerage and risk management and consulting 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.
To learn more about Risk Strategies, please visit www.riskstrategies.com
About Risk Strategies
Risk Strategies is the 9th largest privately held US brokerage firm offering comprehensive risk management advice, insurance and reinsurance placement for property & casualty, employee benefits, private client services, as well as consulting services and financial & wealth solutions. With more than 30 specialty practices, Risk Strategies serves commercial companies, nonprofits, public entities, and individuals, and has access to all major insurance markets. Risk Strategies has over 100 offices including Boston, New York City, Chicago, Toronto, Montreal, Grand Cayman, Miami, Atlanta, Dallas, Nashville, Washington DC, Los Angeles, and San Francisco. RiskStrategies.com.