Tropolis has announced the completion of acquisitions of four insurance agencies.
The terms of the private transactions were not disclosed.
The acquired businesses include BDMH Enterprises, an agency specializing in insurance and risk management solutions for skilled nursing, assisted living and independent living communities nationwide; Follmer Insurance Services, which offers commercial and personal lines insurance, including farm and life products; Madigan Pingatore Insurance Agency, which is focused on hospitality and regional commercial enterprises, and R&A Insurance, which provides commercial lines insurance for churches, contractors and personal lines customers.
BDMH is based in Chicago, while the other three agencies are located in the greater Detroit and Northern Michigan areas.
“Each of these outstanding agencies is backed by great entrepreneurial leaders who share a passion for serving their customers, employees and communities,” commented Jeff Mason, chief executive officer and co-founder of Tropolis. “With strong alignment on our core values of integrity, ownership, leadership and service, we’re confident that joining Tropolis will strengthen the ability of these businesses to grow and provide outstanding service to their customers.”
The leaders of the four agencies echoed the sentiment. “Partnering with Tropolis allows our agencies to build on a foundation of integrity while contributing to a culture of ownership,” the leaders said in a joint statement. “Their commitment to employees, customers and technology ensures we are strategically scaling our businesses and actively insuring tomorrow together. Tropolis’s technology and values empower us to provide unmatched services to our communities.”
Tropolis, known for its use of technology in supporting operational excellence, has a focus on building a culture of ownership and collaboration.
As part of the acquisitions, qualified employees from all four agencies will join the Tropolis Employee Purpose Plan, an equity incentive program that aims to benefit the entire organization through the company’s future growth.
These acquisitions follow the announcement of three other agency acquisitions made by Tropolis in 2024, as the company continues to pursue growth opportunities.
