The Baldwin Group has completed its acquisition of Philadelphia-based Capstone Group, expanding its footprint in the Mid-Atlantic and strengthening its capabilities across multiple insurance lines.
Financial terms of the deal were undisclosed.
Capstone, founded in 2013, is a full-service independent brokerage specializing in risk management, group health and ancillary benefits and property and casualty coverage. The firm has built a reputation for client-focused service and consistent double-digit organic growth, serving sectors including healthcare, finance, construction and technology.
The acquisition aligns with Baldwin's strategy of combining personalized service with scalable infrastructure. It expands Baldwin's regional presence in one of the US's largest economic centers and strengthens its ability to serve complex client needs across personal and commercial lines.
Dan Galbraith, president of Baldwin and CEO of its retail brokerage operations, said the deal reflects shared values.
"Capstone’s holistic approach to risk management and their commitment to client success mirrors our own," Galbraith said. "Together, we are poised to deliver even greater value to our clients while maintaining the extraordinary culture that Capstone has cultivated over the years."
Kevin Fox, managing partner of Capstone, added that the partnership will provide access to Baldwin's broader resources while supporting the firm's mission to provide strategic consultation rather than purely transactional insurance.
"With The Baldwin Group, our combined regional relationships, infrastructure and global resources will help accomplish our goal of delivering a sustainable, competitive advantage to our team and to our clients for years to come," he said.
The deal reinforces a broader trend in the insurance brokerage sector of consolidation aimed at combining local expertise with national and global resources.
Recently, Baldwin completed its merger with CAC Group, a nationally recognized specialty and middle-market brokerage. The transaction is expected to strengthen the company's capabilities across commercial and specialty lines while adding CAC's established middle-market expertise to its platform.
