Risk Strategies completes acquisition of Pace Professional Services, Ltd. to expand specialized expertise in professional liability coverages

Mar 26, 2024•over 1 year ago

Acquiring Company

Risk Strategies

Acquired Company

Pace Professional Services Ltd

Boston

Garden CityLegal

Description

Risk Strategies, a leading national specialty insurance brokerage, has successfully acquired Pace Professional Services, Ltd., a Long Island-based firm specializing in professional liability coverages for certified public accountants and law firms. This acquisition adds significant new industry knowledge to Risk Strategies' professional liability practice and enhances its resources to provide more coverages to clients.

Company Information

Company

Risk Strategies

Location

Boston, Massachusetts, United States

About

Risk Strategies is a specialty national insurance brokerage and risk management firm offering comprehensive risk management advice and insurance and reinsurance placement for property & casualty, and employee benefits risks. With 25 specialty practices, Risk Strategies serves commercial companies, nonprofits, public entities and individuals, and has access to all major insurance markets. Ranked among the top brokers in the country, Risk Strategies has offices located nationwide including Boston, New York City, Chicago, Toronto, Montreal, Grand Cayman, Miami, Atlanta, Dallas, Nashville, Washington DC, Los Angeles and San Francisco. www.risk-strategies.com

M&A Insights

Based on deal data

Integration timeline

70% of M&A integrations take 12-24 months to complete

Tech stack consolidation

83% of merged companies consolidate technology vendors within first year

Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

Success factor

M&A deals with strong technology integration plans are 2.5x more likely to succeed

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