CRC Group announced today that it has signed a definitive agreement with RedBird Capital Partners to acquire Constellation Affiliated Partners, an insurance distribution platform operating seven managing general agents (MGAs) and program managers. The transaction will create one of the largest program management operations in the country.
Constellation Affiliated Partners was formed by RedBird Capital Partners in 2019 and has grown rapidly through a series of strategic acquisitions. Its four core specialty markets, including contractors’ general liability, transportation, condominium/homeowners associations, and professional liability are examples of these expanded capabilities.
Financial terms of this agreement were not disclosed.