XPT Group, LLC (“XPT”) announced that it has completed its acquisition of W.E. Love & Associates, Inc. (“W.E. Love”), a North Carolina based managing general agency. The acquisition of W.E. Love, the second undertaken by XPT in the last three months, follows the acquisition of Western Security Surplus Insurance Brokers, Inc. (“WSS”) in November 2017.
W.E. Love, founded in 1982, specializes in trucking liability and physical damage and motor truck cargo, partnering with a number of insurance markets in the U.S. The acquisition was funded by equity capital, led by London based private equity firm B.P. Marsh, and bank financing.
The second acquisition underscores XPT’s plan to develop a wholesale insurance brokerage and underwriting agency platform across the U.S specialty insurance sector. XPT’s business strategy is to bring together underwriting and wholesale brokerage firms across many specialty lines through acquisitions and new product development. XPT stands apart by delivering expertise through a collaborative partnership culture.
As XPT’s exclusive investment banker, TAG Financial advised on the acquisition of W.E. Love and arranged the financing to complete this transaction.
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