ATLANTA — Founders Insurance, Hutchinson Traylor Insurance, McGinty-Gordon & Associates, and Waites & Foshee, four premier retail insurance brokers, today announced that they have signed definitive agreements to combine to form Oakbridge Insurance Agency LLC (“Oakbridge”), a new integrated insurance brokerage firm serving clients across Georgia and the Southeast U.S.

Hutchinson Traylor, based in LaGrange, Ga., operates seven offices in Georgia, including one in Moultrie. Each of the other companies involved have multiple offices in Georgia, but none in Colquitt County.

As part of the transaction, Corsair Capital LLC, a private equity firm focused on business and financial services, has made a strategic investment in Oakbridge, according to a press release. Robert C. “Robbie” Smith, a veteran insurance executive with experience holding senior leadership roles at firms including Hamilton Dorsey Alston in Atlanta, MHBT in Dallas, and Reagan Consulting, will become chief executive officer of the newly-created agency.

The strategic combination of these agencies creates one of the largest privately-owned insurance, risk management, and employee benefits firms in the Southeast, the press release said, and Oakbridge will be one of the country’s “Top 100” agencies as measured by Business Insurance. 

“Oakbridge plans to grow organically through investments in new talent and client-focused infrastructure and through strategic acquisitions,” the press release said. “Oakbridge sees future expansion opportunities in the Southeast through the strategic and geographic growth of each firm’s specialty practices, as well as by attracting similarly cultured firms that are committed to broadening their businesses and capabilities to best serve clients and partners.”

Wesley Smith, president of Hutchinson Traylor said, “Each of the founding agencies shares a similar client-centric philosophy, and we found the perfect partner in Corsair, a firm with an outstanding track-record of providing strategic support and sector expertise to help businesses achieve transformative growth. We look forward to continuing to expand throughout the entire Southeast as we partner with agency principals who seek to preserve their local operating strategies while gaining access to additional resources to drive meaningful value for clients.”

 “I am thrilled to serve as CEO of Oakbridge and feel fortunate to have the opportunity to work alongside a deep bench of industry veterans who have already laid a strong foundation for the firm’s success,” said Robbie Smith. “I am confident that with the support of Corsair and their value-added partnership, we will achieve our mission of becoming the regional agency of choice for clients.”

“Four superb agencies are combining to form Oakbridge and together will be able to deliver a greater range of innovative solutions to meet their clients’ needs,” commented Tony Ling, Principal at Corsair. “We are excited to support the Oakbridge team as they embark on this journey and capitalize on substantial growth opportunities ahead.”

 Oakbridge’s approximately 175 employees will work across 15 existing office locations throughout the state of Georgia, the press release said. Each firm will maintain its current trade names and branding and will operate under the umbrella brand of Oakbridge Insurance Agency LLC upon the close of the transaction.

Marsh, Berry & Company, Inc. acted as financial advisor to the four agencies in the transaction and Maynard, Cooper & Gale, P.C. acted as legal advisor. Dowling Hales acted as financial advisor to Corsair Capital and Simpson Thacher & Bartlett LLP and Chapman & Cutler LLP acted as legal advisor. The transaction is expected to close on Dec. 31.