Over its 25-year history, Burnham has delivered an impressive track record of revenue growth. This Partnership, which brings with it approximately 130 colleagues, marks BRP Group’s entrance into some of the largest MSAs in California, including Los Angeles, Orange County and Sacramento, and further expands the Company’s presence in the San Francisco area. Burnham provides a full scope of strategic and tactical solutions centered around a client-first consulting approach. Burnham has cultivated a large and broad spectrum of clients including some of the most respected Consumer, Technology, Health Care, Non-Profit, Professional and Financial Services companies. Burnham has also become a leader in the Public Sector, with clients ranging from K-12 Schools and Community Colleges to Cities, Counties and Special Districts.
The Partnership, BRP Group’s nomenclature for a strategic acquisition, is expected to close December 31, 2020, subject to certain closing conditions.
“We have made major strides in expanding our middle-market segment’s capabilities and reach, and partnering with Burnham is a fantastic addition to an incredible 2020 for BRP Group,” said Trevor Baldwin, CEO of BRP Group. “Burnham has delivered impressive growth through its breadth of resources and unparalleled client service, and it will become a vital part of our middle-market organization, further expanding our footprint to some of the largest markets in the U.S. Kristen and her talented team prioritize client service above all else, while nurturing a socially-responsible and accountable culture that is in sync with what we have built at BRP. BGWA, totaling nearly $2.5 billion in AUM4, offers tremendous scale in a highly complementary and synergistic business line in which we are excited to continue our investment and growth. Burnham’s commitment to building culture is evidenced by their recently being named #1 in Business Insurance’s list of “2020 Best Places to Work in Insurance.” We’re proud and excited to have Burnham join the BRP family as we continue to rapidly expand throughout the U.S.”
“We work and think differently at Burnham, which is why we have been able to so successfully and rapidly grow our business,” said Kristen Allison, President and CEO of Burnham. “Our world-class team of experts utilizes a data science-centric approach to provide customized employee benefit and retirement solutions for our clients, and our level of service is unmatched in the industry, adding value to our clients every day. Partnering with BRP Group is a clear, cultural match; the innovative platform of capabilities, client-first approach and opportunities available to our team, particularly in the areas of commercial risk management, made combining our firms the obvious choice. We could not be more excited to take Burnham to the next level for our clients and colleagues who will be the ultimate beneficiaries of our combined scale and capabilities.”
MarshBerry acted as exclusive financial advisor to Burnham in the transaction.
ABOUT BRP GROUP, INC.
BRP Group, Inc. is a rapidly growing 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 represents over 500,000 clients across the United States and internationally. For more information, please visit www.baldwinriskpartners.com. Learn more about BKS Partners at www.bks-partners.com
ABOUT BURNHAM BENEFITS INSURANCE SERVICES, INC.
Burnham Benefits Insurance Services, Inc. is a full-service strategic employee benefits consulting, and brokerage firm based in Irvine, California, with eight offices offering comprehensive client-first strategic solutions. Burnham has cultivated a unique culture that allows its leadership to easily adapt and create customized programs that fit clients' best interests – investing in cutting-edge technology, and the tools and resources needed to provide the specialized level of service that today's rapidly changing business climate demands. Burnham’s cadre of highly skilled industry professionals and strategic partnerships provide unmatched personal service. Property and Casualty consulting services are offered through Burnham Risk and Insurance Solutions, LLC. Burnham holds national recognition as one of the Best Places to Work in Insurance by Business Insurance magazine for the seventh year and counting, and over the last decade consistently ranks as one of the Best Places to Work by the Orange County Business Journal, North Bay Business Journal, and Los Angeles Business Journal. For more information, visit www.BurnhamBenefits.com