As a result of this Partnership, BRP Group’s nomenclature for a strategic acquisition, Arcana will bring to BRP Group unique product capabilities in the single-family real estate market, which has powered strong organic growth over Arcana’s history. Arcana generates annual revenues of approximately $3.6 million1.
“We are incredibly excited to welcome the Arcana team to the BRP Group and MSI family,” said Jim Roche, Chief Insurance Innovation Officer of BRP Group. “Arcana’s real estate investor programs provide MSI immediate scale and product capabilities in the rapidly growing single-family rental space, and Mark, Susan and the entire team bring deep industry relationships and expertise that are important additions to MSI’s real estate platform. We believe there is a tremendous opportunity to leverage our collective relationships, proprietary technology and product offerings for future growth.”
“When Arcana decided to explore a potential Partnership, finding a Partner with integrity and a client and colleague-centric culture was top of mind,” said Mark Gannaway, Chief Executive Officer of Arcana. “Our Partnership with BRP Group brings an amazing home to our clients and colleagues, and provides us with capital, technology and resources to take our business to the next level. It is an honor and a privilege to join the BRP Group family, and we look forward to all the great things to come.”
MarshBerry acted as exclusive financial advisor to Arcana in the transaction.
ABOUT BRP GROUP, INC.
BRP Group, Inc. is an independent insurance distribution firm delivering tailored insurance and risk management insights and solutions that give our clients the peace of mind to pursue their purpose, passion and dreams. We are innovating the industry by taking a holistic and tailored approach to risk management, insurance and employee benefits, and support our clients, Colleagues, Insurance Company Partners and communities through the deployment of vanguard resources and capital to drive our growth. BRP Group represents over 700,000 clients across the United States and internationally. For more information, please visit www.baldwinriskpartners.com. Learn more about MSI at www.msimga.com.
ABOUT ARCANA INSURANCE SERVICES LP
Founded in 2005, Arcana is a national insurance agency and program administrator with the primary purpose to better serve the real estate and property management markets. With a commitment to becoming an invaluable and indispensable partner, Arcana prides itself on the highest level of customer service so that individuals and organizations can meet their goals. For more information, please visit www.arcanainsurance.com.