Burnham Benefits Insurance Services, Inc. and Burnham Gibson Wealth Advisors Inc., an Irvine-based consultant for insurance, retirement and employee benefits, is being acquired by a unit of BRP Group Inc. (Nasdaq: BRP), a Tampa, Fla.-based insurance distribution firm.
The unit, Baldwin Krystyn Sherman Partners LLC will acquire Burnham, which has annual revenue of $52.6 million. Burnham, ranked No. 79 in Business Insurance’s “Top 100” list of largest U.S. brokers, represents one of the largest partnerships in BRP Group’s history.
Burnham President and CEO Kristen Allison and BGWA President Darin Gibson will serve as regional president and managing partner, respectively, within BRP Group’s middle-market operating group.
Burnham, which has 130 employees, marks BRP Group’s entrance into the California market, including Los Angeles, Orange County and Sacramento.
Burnham’s expertise is in the public sector with clients ranging from K-12 schools and community colleges to cities, counties and special districts.
The deal is expected to close Dec. 31.