Risk Strategies Acquires Burke Insurance Group
Sica | Fletcher advises Burke Insurance Group, LLC (“Burke”) in its sale to
Risk Strategies (“RSC”).
Overview of Transaction
Headquartered in Las Cruces, New Mexico, Burke was established in 1980 by William W. Burke, Sr.
Burke is a second-generation commercial lines-focused retail insurance agency that specializes in surety bond underwriting and construction bonds. In addition to its expertise in surety, Burke specializes in providing insurance coverages to the construction and oil and gas industries.
Burke agreed to partner with RSC, a top 20 National Insurance Broker headquartered in Boston, MA. RSC was recently included on Inc. Magazine’s 5000 Fastest-Growing Private Companies in America.
Significance of Transaction
The acquisition of Burke enables RSC to expand its retail operations in the Southwest with significant growth opportunities on day one for the Burke. The transaction will also allow RSC to expand its commercial-focused surety offerings.
Burke will receive support and corporate resources from day one, and will have numerous opportunities to team up with other RSC partners to target larger accounts nationally.
Sica | Fletcher's Role
Sica | Fletcher was hired to serve as exclusive strategic and financial advisor to Burke and explored multiple options for the firm before partnering with Risk Strategies.
The transaction is one of many fourth quarter deals that Sica | Fletcher successfully executed, and builds on its track record of success with the most prolific acquirers in the space.