BRP reveals CRP value; proclaims one other deal – Enterprise Insurance
BRP Group Inc. will pay up to $ 275 million to purchase Construction Risk Partners LLC earlier this week, according to a Friday filing with the Securities and Exchange Commission.
The Tampa, Florida-based brokerage firm also announced another acquisition late Thursday that will add the value of its acquisitions to $ 201 million in annual sales in 2021.
In the SEC filing, BRP said it will pay $ 139 million in cash, about $ 37 million in shares based on today's share price, and up to $ 99.5 million in performance earnouts on Construction Risk Partners. The deal for the Branchburg, New Jersey-based brokerage, which has sales of approximately $ 32.6 million, was announced on Tuesday.
Meanwhile, BRP has agreed to buy Brush Creek LLC, a real estate company based in Kansas City, Missouri, with approximately 20 employees. The terms were not disclosed, but the deal will generate approximately $ 3.3 million in sales, BRP said in a statement.