NFP Expands with Capstone Acquisition
Deal News | Dec 10, 2024 | EIN
NFP, an advisory firm and subsidiary of Aon, has acquired Capstone Strategies, a property and casualty (P&C) and benefits brokerage firm based in Midland, Texas. This acquisition, which brings Capstone's founders onboard as senior vice presidents, enhances NFP's expertise in commercial property energy, particularly in the oil and gas sector, leveraging Capstone's years of industry-specific experience since its inception in 2006. Capstone has specialized in providing insurance solutions for oil and gas extraction, making it a strategic addition to NFP's recently launched Energy Group in Houston. This acquisition signifies NFP’s commitment to bolstering its capabilities in servicing the oil and gas industry across West Texas, with the aim to address significant risk management and workforce challenges for businesses and individuals in the sector.
Sectors
- Insurance
- Energy
- Mergers & Acquisitions
Geography
- United States – The acquisition takes place in Texas, enhancing NFP's presence in the United States, particularly in West Texas.
- Texas – Both NFP's strategic expansion and Capstone Strategies' operations are centered in Texas, specifically impacting the local market.
Industry
- Insurance – The acquisition involves Capstone Strategies, a brokerage firm that provides property and casualty insurance services.
- Energy – Capstone Strategies specializes in insurance solutions for the oil and gas extraction industry, which is a key part of the energy sector.
- Mergers & Acquisitions – The article involves the acquisition of Capstone Strategies by NFP, highlighting a transaction within the corporate space.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| NFP | Acquiring Company | Company | A consultative advisory firm and part of Aon, focusing on addressing risk management and workforce challenges. |
| Capstone Strategies, LLC | Target Company | Company | A property and casualty and benefits brokerage firm based in Midland, Texas, specializing in the energy sector. |
| Blake Johnston | Founder of Capstone, Joining NFP | Person | Co-founder of Capstone Strategies, now appointed as a senior vice president at NFP. |
| Brandon Sheppard | Founder of Capstone, Joining NFP | Person | Co-founder of Capstone Strategies, now appointed as a senior vice president at NFP. |
| Amanda Ruback | P&C Managing Director, NFP | Person | Amanda Ruback is the managing director of NFP's P&C Central region, overseeing new appointees Johnston and Sheppard. |