Northwest Comprehensive, Inc., a Chicago brokerage and consulting firm focusing on employee benefits for colleges and universities is the latest acquisition for Boston based Risk Strategies Company.
Risk Strategies’ financial backing from private equity firm fuels growth
The Northwest Comprehensive acquisition continues a string of recent (click here for prior articles of Agency Checklists) acquisitions and mergers resulting from Risk Strategies’ June 2013 completion of “a significant transaction and partnership that positioned the company for accelerated growth.” This transaction and partnership involved Kohlberg & Company, LLC a private equity firm specializing in middle market investing. In this transaction Kohlberg acquired a majority of Risk Strategies’ stock and allocated substantial additional equity capital to support Risk Strategies’ growth initiatives from a then recently-established $1.6 billion investment fund, “Kohlberg Investors VII.”
Acquisition expands employee benefits and higher education practice group
Northwest Comprehensive will expand Risk Strategies offerings with its expertise in health and welfare benefits brokerage and its consulting services to help control costs and maximize available resources. Its employee benefits services include Affordable Care Act and legislative compliance, management of competitive bids, contract negotiation, plan design audit and cost modeling, consumer driven health plans linked to Health Saving Accounts and/or Health Reimbursement Accounts, self-funding and fully insured analysis, and analysis of claims history and utilization trends.
John Cerasani, Northwest Comprehensive President and Founder, will continue to manage Northwest Comprehensive. In addition, he will also assume the role of the Risk Strategies Midwest Employee Benefits Practice Leader. Mr. Cerasani, Risk Strategies announced, will be integral in Risk Strategies’ growing national higher education practice and his team will integrate with Risk Strategies of Chicago, an office with expertise in Executive Risk, Property/Casualty, and Private Client.
Goal to expand Risk Management’s employee benefits and higher education practices
Mr. Cerasani was quoted as saying. “Through our integration with Risk Strategies, we can continue to offer our specialized insurance consulting only now with greater resources behind us to better serve our clients. In addition, we’re excited about joining Risk Strategies of Chicago. Together, we have a significant opportunity to expand Risk Strategies’ employee benefits and higher education practices.”
For Risk Strategies’ part, its Chief Executive Officer and Founder, Michael Christian said, “We look for partners that are highly specialized to augment and complement our specialty-focused firm. Northwest Comprehensive’s prominence in employee benefits for colleges and universities will bring expanded expertise and resources to Risk Strategies’ higher education clients.”
About Risk Strategies
Risk Strategies Company is a privately-held, national firm with 16 offices across the country. . Risk Strategies targets markets middle market commercial companies, non-profits, public entities, and individuals. The company offers sophisticated risk management advice and insurance placement for property & casualty and employee benefits risks. Also the company the Boston Business Journal recently recognized Risk Strategies as a 2015 Pacesetter.