PE house Odyssey completes Integro acquisition

Private equity house Odyssey Investment Partners has completed its acquisition of US broker Integro.

The deal was first announced in August.

Integro, which launched in the US in 2005 amid then US attorney general Eliot Spitzer’s attack on the top brokers, has made a big push into the UK in recent years.

The company debuted in the Insurance Times Top 50 Brokers this year in 26^th place after buying Howard Global, NPA Insurance and Kite Warren Wilson.

Following the completion of the takeover, the Integro management team led by William Goldstein, John Sutton, Toby Humphreys and Marc Kunney remains in place, and certain members of the management team and other employees remain shareholders in the company.

Goldstein, previously president of Integro, has been named chief executive. He said: “We are thrilled to be aligning with Odyssey, an active partner that will add value in so many initiatives, including refining strategic direction, accelerating acquisitions, improving financing, and supporting our deep commitment to innovation and client service.

Odyssey managing principal Jeffrey McKibben said: “We are excited to complete this transaction and to build on Integro’s exceptional success to date in the brokerage and risk management sectors.

“We look forward to our new partnership with the Integro management team and to providing the resources and support needed to achieve continued success.”