Capital Risk Acquires Texas Specialty
NU Online News Service, March 17, 3:31 p.m. EST?Capital Risk Group in New York City announced the acquisition of Texas Specialty Insurance Agency, a recently established specialist brokerage firm based in Houston.
Terms of the deal were not disclosed.
John Molbeck, the chief executive of Texas Specialty Group, will become chief executive of Capital Risk, LLC, the operating subsidiary of Capital Risk Group. Ben Wilcox, currently chief operating officer of Texas Specialty, will become chief operating officer of Capital Risk, LLC.
Capital Risk will have a combined staff of over 40 employees working out of offices in New York and Houston
Capital Risk Group, LLC, is a joint venture between London?based insurance broker Jardine Lloyd Thompson and The Blackstone Group, a private investment bank headquartered in New York City.
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