Brokerage firm Risk Strategies Company has announced its purchase of Massachusetts-based D&D Insurance. Through this business sale, RSC hopes to increase its coverage in personal lines of insurance and expand its area presence in the market.
D&D’s founder will join the new company as vice president and is tasked with expanding the firm’s lines of personal insurance coverage. All D&D clients will be served from RSC’s offices in Randolph and Burlington.
RSC has made a total of four business acquisitions of other companies or divisions in the last two years, two of which have been in the Boston area in the past nine months. A Needham insurance company was purchased in December. It operates as an independent insurance network and handles property, liability and employee benefit insurance products.
Business transactions are often complex and involve months of negotiations prior to the actual transfer. Disposition of existing employees must be considered as well as how the company assets will be transferred and held, along with observing any state or federal laws governing the transaction. In complicated business sales, business attorneys can serve a vital and useful purpose by guiding both parties to an agreement and handling the execution of the sale, thereby giving both purchasers and sellers the opportunity to reach their goals and protect their investments. Business mergers and acquisitions often require a great deal of planning and careful observation of local, state and federal regulations, so a business attorney can be beneficial to any company looking to buy assets from or sell assets to another company.
Source: Insurance Business Review, “Risk Strategies buys D&D Insurance Agency,” Staff Writers, Oct. 23, 2012