Mergers & Acquisitions
Relation Insurance Enters South Carolina Marketplace with Addition of Theodore & Associates Insurance Agency
Walnut Creek, Calif., July 21, 2020 – Relation Insurance Services (“Relation”), a privately owned insurance brokerage that offers property and casualty, risk management, employee benefits, and TPA-consulting services through its family of brands across the United States, announced today it has acquired the assets of Theodore & Associates Insurance Agency (“Theodore”), a privately owned insurance brokerage headquartered in Columbia, South Carolina with an additional office in Summerville, SC. Theodore will retain its name and operate as Theodore & Associates, a Relation company. Drew Theodore will remain with the company as the head of South Carolina for Relation, and his son, Nick Theodore, will manage the operations of Theodore & Associates. Terms of the transaction were not disclosed.
Founded in 1984 by Drew Theodore, Theodore offers property and casualty and employee benefits solutions for commercial and personal clients and has established itself as a premier independent insurance brokerage firm throughout South Carolina. The acquisition expands Relation’s geographic footprint into South Carolina and will further enhance Theodore’s product offering and risk management capabilities for its clients.
“This expansion into South Carolina builds on our significant presence in North Carolina and we are thrilled to partner with such a high-quality firm like Theodore & Associates,” said Joe Tatum, CEO of Relation. “Drew and his team will be pivotal to our growth as we look to continue our expansion throughout the state.”
“Joining Relation is an exciting step for our firm and our clients,” said Drew Theodore, President of Theodore & Associates. “Relation shares our commitment to client service while providing our agency with more services to offer to our clients, and we are ideally poised with this partnership for continued growth and success throughout South Carolina.”
Relation was formed in 2007 and is one of the nation’s leading independent insurance agencies. For more information on partnering with Relation, visit www.relationinsurance.com/about-us/mergers-and-acquisitions/.
About Relation Insurance Services
Relation Insurance Services is an insurance brokerage that offers superior risk-management and benefits-consulting services through its family of brands across the United States. It is ranked by Insurance Journal within the top 40 largest agencies in the country by revenue and has over 500 employees in more than 35 locations nationwide. Relation is a privately held corporation owned by Aquiline Capital Partners, a private equity firm based in New York and London investing in businesses globally across financial services and technology. Visit: www.relationinsurance.com for more information.
About Theodore & Associates Insurance Agency
Theodore & Associates Insurance Agency is a full-service insurance brokerage firm headquartered in Columbia, South Carolina. Theodore provides a full suite of property, casualty and employee benefits products and services to commercial and personal clients.
Visit: www.relationinsurance.com for more information.
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Tim Hall, EVP & Head of M&A
Relation Insurance Services