Eastern Insurance Group Acquires Operating Assets of John T. Burns Insurance Agency

Eastern Insurance Group Acquires Auburn Insurance Agency

October 1, 2020

Insurance

Eastern Insurance Group LLC, a wholly owned subsidiary of Eastern Bank, acquired the assets of Auburn Insurance Agency, Inc., a family-owned Massachusetts insurance agency founded by Janice Ryan. The asset purchase, effective October 1, 2020, expands Eastern Insurance's specialty capabilities in program business and complements its existing property & casualty and niche insurance practices.

Arthur J. Gallagher & Co. Acquires Eastern Insurance Group

September 19, 2023

Insurance

Arthur J. Gallagher & Co. signed a definitive agreement to acquire Natick, Massachusetts-based Eastern Insurance Group, LLC (a subsidiary of Eastern Bank) for $510 million (net of seller-funded expenses). The acquisition, expected to close in late 2023 and now completed, expands Gallagher’s commercial property/casualty, personal lines and employee benefits capabilities across the Northeast U.S.; Eastern Insurance reported pro forma trailing-12-month revenues of approximately $104 million and EBITDAC of $37 million.

King Insurance Acquires Brad Burns Insurance, Inc.

August 18, 2022

Insurance

King Insurance, a Gainesville-based full-service insurance brokerage, has acquired Brad Burns Insurance, Inc., a Tallahassee commercial insurance agency focused on commercial property & casualty and employee benefits. The ten-employee firm will continue to operate out of Tallahassee; the acquisition extends King's northern Florida presence and enhances its commercial and employee benefits practice as part of the Company's partnership with BHMS Investments, LP.

IMA Financial Group Acquires EBS Insurance Brokers

December 19, 2023

Insurance

Denver-based IMA Financial Group has acquired EBS Insurance Brokers, a Newton, Massachusetts–based employee benefits brokerage. The deal expands IMA's presence in Massachusetts and strengthens its employee benefits capabilities for employer clients across New England.

Relation Insurance Services Acquires SouthEast Agency LLC Assets

July 14, 2021

Insurance

Relation Insurance Services, a PE-backed national insurance brokerage, acquired the assets of Connecticut-based SouthEast Agency LLC. The acquisition — terms undisclosed — adds SouthEast’s P&C expertise (contractors, commercial transportation, hospitality and real estate) to Relation’s East Region, with Jay Lorinsky remaining in a leadership role.

Tombras Acquires The Burns Group

October 7, 2024

Marketing & Advertising

Tombras, a full-service independent advertising agency headquartered in Knoxville, has acquired The Burns Group, a 10-person New York-based independent advertising agency. The Burns Group will be integrated into Tombras New York, bringing marquee CPG clients (including Ricola) and its leadership (founder Michael Burns will stay on as strategic advisor).