M&A Deal Summary

Acrisure Acquires Northrim Benefits Group

On August 14, 2017, Acrisure acquired insurance company Northrim Benefits Group from Northrim Bank

Acquisition Highlights
  • This is Acrisure’s 1st transaction in the Insurance sector.
  • This is Acrisure’s 1st transaction in the United States.
  • This is Acrisure’s 1st transaction in Arkansas.

M&A Deal Summary
Date 2017-08-14
Target Northrim Benefits Group
Sector Insurance
Buyer(s) Acrisure
Sellers(s) Northrim Bank
Deal Type Divestiture

Target

Northrim Benefits Group

Anchorage, Arkansas, United States
Northrim Benefits Group LLC is a provider of insurance products and services. Northrim Benefits Group is based in Anchorage, Arkansas.

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Buyer(S) 1

Buyer

Acrisure

Grand Rapids, Michigan, United States
Category Company
Founded 2005
Sector Insurance
Employees2,700
DESCRIPTION

Acrisure is a retail insurance brokerage offering comprehensive risk management and consulting solutions, including property & casualty, employee benefits, human resource outsourcing, loss & claims management, surety bonding and personal lines coverage. Acrisure was founded in 2005 and is based in Grand Rapids, Michigan.

DEAL STATS #
Overall 1 of 13
Sector (Insurance) 1 of 10
Type (Divestiture) 1 of 2
State (Arkansas) 1 of 1
Country (United States) 1 of 8
Year (2017) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-10 Beach & Associates

Toronto, Ontario, Canada

Beach & Associates Ltd. is the premier, independent (re)insurance broking and advisory firm. Beach has a reputation for innovative reinsurance placements for complex and technical books of business. Operating in London, Zurich, Bermuda, Toronto, Burlington NC, Chicago and New York, Beach works with major insurance companies and insurance distribution to understand and achieve corporate risk management goals through the purchase of reinsurance and insurance portfolio solutions. Beach have a global team of over 160 experienced and talented employees in seven offices dedicated to providing bespoke advisory, portfolio and (re)insurance solutions.

Buy -

Seller(S) 1

SELLER

Northrim Bank

Anchorage, Alaska, United States
Category Company
Founded 1990
Sector Financial Services
Employees472
Revenue 130M USD (2023)
DESCRIPTION

Northrim Bank is a commercial bank that provides personal and business banking services. Northrim Bank was founded in 1990 and is based in Anchorage, Alaska.

DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 1
State (Arkansas) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-02 Residential Mortgage

Anchorage,, Alaska, United States

Residential Mortgage, LLC is an Alaskan-owned mortgage company, currently has nine offices statewide. In 2013, Residential Mortgage, LLC originated approximately $792 million in mortgage loans, giving it 19.7% of the Alaska mortgage origination market in that year.

Buy $30M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-01 Sallyport Commercial Finance

Sugar Land, Texas, United States

Sallyport Commercial Finance offers specialized financial services tailored to small and medium-sized enterprises. Sallyport Commercial Finance was founded in 2014 and is based in Sugar Land, Texas.

Buy $54M
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