After 139 Years of Operations as Frenkel & Company, Venerable Insurance Broker Elects to Join EPICOctober 25, 2017
Acquisition materially expands EPIC’s platform in the Northeast and further strengthens one of the nation’s fastest growing insurance brokers and employee benefits consultants
NEW YORK, NY AND SAN FRANCISCO, CA – October 25, 2017 – Frenkel & Company, one of the nation’s most respected full-service independent insurance brokers and EPIC Insurance Brokers & Consultants, a unique and innovative national retail insurance brokerage and employee benefits consulting firm, announced today that they have joined forces.
Established in 1878 by Emil Frenkel, Frenkel & Company is one of the largest privately-held insurance brokers in the nation. With revenues approaching $80 million, Frenkel was most recently ranked #48 in Business Insurance Magazine’s list of the 100 Largest Brokers of U.S. Business, published in July 2017.
EPIC, celebrating the firm’s 10th anniversary in 2017, is already one of the 20 largest U.S. retail insurance brokers and, before the addition of Frenkel, ranked #26 among the top commercial insurance broker/consultants in the world. EPIC has built a strong, positive reputation for service excellence, innovation, community, collaboration and having fun – all in the interest of being a “people first” (clients and team members) organization.
“Frenkel & Company has been delivering strategic guidance and service around the risk management, insurance and benefit consulting needs of our clients for nearly 140 years,” said John F. Kelly, President and Chief Executive Officer of Frenkel & Company. “We believe the decision to join EPIC will help us deliver an even broader and deeper set of capabilities and added value to our clients, with the same commitment to responsive, personalized service that has been a hallmark of our firm since 1878. We are thrilled to join forces with a unique and successful company like EPIC.”
Upon joining EPIC, the firm will operate as Frenkel & Company – an EPIC Company. Frenkel & Company’s strong leadership team will play vital, active roles within the integrated EPIC organization.
Said EPIC CEO, John Hahn, “We found a strong cultural partner in Frenkel & Company, in an important and highly desirable region where we see tremendous opportunities for growth. In combination with our March 2017 acquisition of The Capacity Group and other growth, we have added roughly 450 new team members and now have revenue of more than $150 million in the Northeast Region. Frenkel locations and teams in New York City, Jersey City, Boston, and Los Angeles, will add significant value to our clients across the country and create further opportunities for our employees’ long-term growth and career success.”
EPIC’s Northeast Region President Thomas O’Neil added, “In addition to the integration and expansion of our respective capabilities, Frenkel & Company provides a strong platform in the Northeast to extend our risk management, property & casualty insurance, international client services, employee benefits consulting, program solutions and private client services to companies across the region, nationally and internationally.”
Weil, Gotshal & Manges, led by partner Christopher Machera, served as EPIC’s legal advisor. KPMG LLP provided accounting and tax advice for EPIC. Morgan Stanley & Co LLC, led by Managing Director Robyn Maslynsky, acted as financial advisor to Frenkel & Company and Morrison Cohen LLP served as Frenkel’s legal advisor.
About Frenkel & Company – an EPIC Company
Frenkel & Company – an EPIC Company offers an expansive array of traditional and customized risk management, property & casualty insurance and employee benefits consulting products and services to a broad spectrum of businesses, industries and individuals. Headquartered in New York, NY, the firm has grown organically and through a series of acquisitions and strategic partnerships to become one of the 50 largest brokers of U.S. Business. For additional information, please visit http://www.frenkel.com/
EPIC is a unique and innovative retail property & casualty and employee benefits insurance brokerage and consulting firm. EPIC has created a values-based, client-focused culture that attracts and retains top talent, fosters employee satisfaction and loyalty and sustains a high level of customer service excellence. EPIC team members have consistently recognized their company as a “Best Place to Work” in multiple regions and as a “Best Place to Work in the Insurance Industry” nationally.
EPIC now has more than 1,300 team members operating from offices across the U.S., providing Property & Casualty insurance, Employee Benefits Consulting, Specialty Programs and Private Client solutions to more than 30,000 clients.
With run rate revenues of roughly $400 million, EPIC ranks among the top 20 retail insurance brokers in the United States. Backed by Oak Hill Capital Partners, the company continues to expand organically and through strategic acquisitions across the country. For additional information, please visit www.epicbrokers.com.