Insurance broker Brown & Brown says it has completed its $336.5 million transaction to acquire insurance broker Beecher Carlson.
In May, Daytona Beach, Fla.-based Brown & Brown, which traditionally acquires much smaller firms in the range of $8 million, said it was making what amounts to the largest acquisition transaction so far this year. The move, its CEO J. Powell Brown says, did not signal a change in company strategy, but was an opportunity the firm did not want to pass-up.
Beecher Carlson, which produced $105 million in revenue last year, is comprised primarily of three businesses: large account, OnPoint and agency.
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