King Risk Partners has expanded its presence in the New England region through the acquisition of Acacia Insurance, an independent agency based in Waltham, Massachusetts.
The transaction marks another step in King Risk Partners’ strategy to grow its footprint in the broader Northeast.
Acacia Insurance, headquartered in Waltham, has served individuals and businesses across New England for more than 30 years. The agency offers a range of personal and commercial insurance products, including coverage for homes, vehicles, high-value assets, and various business risks.
Scott Popilek (pictured above), chief executive officer of King Risk Partners, said the acquisition aligns with the company’s mission.
“Acacia's commitment to making the unexpected uneventful for its clients resonates deeply with our mission,” Popilek said. He added that the combination of King’s resources with Acacia’s local reputation and approach will provide a distinct value proposition for clients in the region.
King Risk Partners’ latest deal comes as the insurance brokerage sector in Massachusetts and the Northeast continues to see significant merger and acquisition activity.
Earlier this month, Arthur J. Gallagher & Co. completed its $223 million acquisition of Tompkins Insurance Agencies, a move that expanded Gallagher’s commercial and personal property/casualty and employee benefits consulting capabilities in the region. Tompkins Financial, the seller, said the transaction would help support its long-term strategic investments.
Other brokerages are also increasing their presence in Massachusetts. Marsh McLennan Agency acquired Hayden Wood Insurance Agency Inc. earlier this month, bringing on board a team that specializes in personal lines and collector auto and motorsports products.
The acquisition allows Marsh McLennan to strengthen its service to high-net-worth and niche clients, with Hayden Wood’s staff remaining in place at their Southborough location.
The trend of regional consolidation extends beyond Massachusetts. In May, the Hilb Group expanded its property and casualty services in New England through the acquisition of a New Hampshire-based business.
