Risk Strategies has acquired Bonds, a specialist in surety bonds focused on the construction industry. The terms of the deal were not announced.
Located in Hunt Valley, Maryland, Bonds was founded in 1996 by its current president Michael Shaver. The firm helps clients in the construction industry secure performance and payment bonds for projects.
“Michael and his team are an excellent fit with the Risk Strategies family and our specialist approach to risk,” said Scott Popilek, Risk Strategies Atlantic region leader. “Their focused surety expertise has made them a valued part of their clients' business, and now they can leverage all the other insurance products and services of the Risk Strategies family.”
The acquisition of Bonds strengthens Risk Strategies Surety Practice bonding operations. Bonds helps maximise clients’ surety credit in providing bonds for government and municipal projects in the Baltimore and DC-metro area.
“In today’s business environment, clients really benefit from a specialist approach,” said Shaver. “We saw in Risk Strategies a true specialist who would understand the value we bring to clients, and joining the company gives us more options to help meet clients’ broader needs and expand our base of business.”
Bonds works with a broad range of contractors, from smaller start-ups to large, highly experienced companies. A national scale broker with clients across the country in addition to its primary base in the Mid-Atlantic region, Bonds also has expertise in writing international bonds for the State Department and the Overseas Budget Office.
Risk, Strategies, buys, bonds, surety, specialist