.png){kind=logo}
Risk Strategies Acquires Joyce Insurance Group
Sica | Fletcher advises Joseph J. Joyce Associates, Inc. d.b.a. Joyce Insurance Group along with its sister companies Joyce, Jackman & Bell and Joyce, Hagerty, Bell (“Joyce”) in its sale to Risk Strategies (“RSC”).
Overview of Transaction
-
Headquartered in Pittston, Pennsylvania, Joyce is a full service retail insurance agency with a mix of business in all segments.
-
The Company has specialty expertise relating to municipalities, schools, excavators, transit authority and public works-focused firms.
-
Joyce 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 Joyce enables RSC to substantially expand its retail operations in the Northeast with significant growth opportunities on day one.
-
The transaction will allow the Joyce team to enhance its current product offerings and leverage the technologies offered by RSC to improve efficiency.
Sica | Fletcher's Role
-
Sica | Fletcher was hired to serve as exclusive strategic and financial advisor to Joyce and explored multiple options for the firm before partnering with Risk Strategies.
-
The transaction builds on Sica | Fletcher's track record of success with complex transactions and key relationships with the most prolific acquirers in the space.
