GRAND RAPIDS, Mich., Nov. 22, 2016 /PRNewswire/ -- Acrisure, LLC, a leading national insurance brokerage, and its financial sponsor, private equity firm Genstar Capital, today announced they have completed the previously announced management-led buyout of the company in a $2.9 billion transaction led by Greg Williams, Acrisure's Chief Executive Officer and co-founder, and a consortium of minority investors. Mr. Williams, who co-founded the company with Rick Norris in 2005 said, "We are thrilled to complete this transaction as it marks an important milestone for the company. As a result, management and agency partners now control the company, and our focus will continue to be on the long-term growth of our business. We had a great partnership with Genstar, whose expertise helped transform Acrisure into a leading national insurance brokerage. I am excited to have Genstar remain a shareholder in Acrisure, and to have additional resources from our new co-investors, as we further expand our national footprint and continue our ambitious growth plan." Genstar acquired Acrisure in 2013 and has worked with Mr. Williams and the Acrisure management team to expand Acrisure's geographic footprint and to broaden the size and scope of its insurance offerings. Under Genstar's ownership, the company successfully acquired 138 retail insurance brokerages and generated industry-leading organic growth. The company also invested in new data and analytic tools, and further strengthened the management team that allowed Acrisure to become one of the top 15 insurance brokers in the U.S. Annual revenues today exceed $670 million. Ryan Clark, President and Managing Director at Genstar said, "Genstar has built a strong and deep expertise within the insurance sector and we are very pleased with the outcome of this investment. It gives us great pride to have played a role in building Acrisure into an industry leader, particularly working in partnership with Greg Williams and his executive team. Together, we have exceeded all our expectations, and we are very pleased to continue as investors to participate in Acrisure's future growth." In addition to Acrisure, Genstar's current and former investments in the insurance industry include Insurity, Financial Horizons Group, Innovative Aftermarket Systems, Palomar Specialty, and Confie Seguros.