Alera Group, Inc. Acquires Duryea Agency
Sica | Fletcher advises Duryea Agency in its sale to Alera Group, Inc.
Overview of Transaction
Duryea is a retail insurance agency headquartered in Glen Gardner, New Jersey.
Initially founded by Dennis Duryea in 1981, Duryea is a P&C-focused generalist with a mix of business in all segments. Private passenger/business auto and homeowners are among its top lines of business.
Alera is an independent, national insurance and financial services firm created through the merger of like-minded, high-performing, entrepreneurial firms across the United States.
Significance of Transaction
The acquisition of Duryea provides Alera with a well-diversified book of business and adds a strong, motivated team of high-energy insurance professionals to Alera’s growing national network.
Sica | Fletcher's Role
Sica | Fletcher was hired to serve as exclusive strategic and financial advisor to Duryea and explored multiple options for the firm before partnering with Alera.
This transaction further underscores Sica | Fletcher’s strong relationships with private equity firms and the brokerages they support.