Daytona Beach, Fla.-based insurance provider Brown & Brown Inc. announces that its chief acquisitions officer, J. Scott Penny, has entered into an agreement with Mark Hauser, chairman of Cincinnati-based HAUSER, for Brown & Brown to acquire the assets of HAUSER.
According to Brown & Brown, HAUSER is a company focused on unique insurance solutions for private equity groups and their portfolio companies inclusive of mergers and acquisitions advisory and due diligence services; placement of insurance solutions for all aspects of business risk; employee benefits advisory services; and 401(k) plan compliance. The agency was founded 50 years ago by the Hauser family and will continue to operate from its headquarters in Cincinnati under the leadership of James Stines, who had been with company previously.
“Mark and James have built an incredible team at HAUSER which provides best-in-class services for private equity firms and their portfolio companies,” Penny said. “The ability to provide a continuum of services from initial due diligence to risk management solutions allows the HAUSER professionals to provide an incredibly high level of understanding, service and outcomes for their customers. We are excited to join the expertise and private equity focus of the HAUSER team with the capabilities of Brown & Brown to benefit our collective customers.”