Assuredpartners Buys Stoudtadvisors ; Acquisition

AssuredPartners said Thursday it had acquired StoudtAdvisors for an undisclosed price.

Lancaster-based StoudtAdvisors is an independent insurance broker specializing in employee benefits programs and human resources consulting.

StoudtAdvisors will remain in its 280 Granite Run Drive office under the leadership of David K. Stoudt, president and CEO.

The business, now with 13 employees, was founded in 1989 by his father, Kenneth G. Stoudt.

AssuredPartners acquires and invests in insurance brokerage businesses in the United States and London. Since its founding in 2011, AssuredPartners has grown to approximately $475 million in annualized revenue. It's owned by Chicago-based private equity firm GTCR.