AmWINS Group, Inc. says it will acquire Gresham & Associates, Inc. in a deal that is expected to close by the end of the year.
Financial terms of the transaction were not released, says an AmWINS spokesman.
Established in 1979 by Jim Gresham, Gresham placed $340 million in premium last year. The firm currently has nine offices primarily in the South, with three offices in Florida.
AmWins says that once the acquisition is complete, the combined firm will place more than $7.5 billion in annual premiums and be home to nearly 2,800 employees in 90 offices across 18 countries.
In conjunction with the acquisition, Tony Gresham, current president of Gresham & Associates, will assume the additional role of chief executive officer of Gresham & Associates with responsibility for all sales and business operations. Jim Gresham will continue as chairman of Gresham & Associates.