Tampa, Fla. (January 16, 2014) – Holland & Knight provided legal counsel to Florida-based independent insurance intermediary Brown & Brown, Inc. (NYSE: BRO) in its proposed $602.5 million acquisition of The Wright Insurance Group, LLC, a specialty insurer. The deal, which would be the largest in Brown & Brown's history, was announced on Jan. 15.
This transaction would provide Brown & Brown with a substantial presence in the national flood insurance program (NFIP) and other government-sponsored insurance programs. The deal is currently expected to close in April 2014 and is subject to customary closing conditions, including Hart-Scott-Rodino approval and related regulatory approvals. The transaction will be a cash acquisition (using free cash and existing debt sources) and is not subject to financing conditions.
Holland & Knight partners Chet Bacheller and Tom McAleavey led the firm's efforts to assist Brown & Brown, led by its in-house counsel, with assistance from partners, Anderson Baldy, Jack Levine, John Dierking and Richard Liskov, associate Carrie Eisnaugle and others.
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