Starkweather & Shepley acquires Mass. agency

STARKWEATHER & Shepley Insurance Brokerage Inc. has acquired a 22-person insurance agency in Massachusetts.
STARKWEATHER & Shepley Insurance Brokerage Inc. has acquired a 22-person insurance agency in Massachusetts.

EAST PROVIDENCE – Starkweather & Shepley Insurance Brokerage Inc. has acquired a 22-person insurance agency in Massachusetts.

Starkweather & Shepley, based in East Providence, acquired McGrath Insurance Group, of Sturbridge and Spencer, Mass., according to a press release.

The company declined to disclose financial details related to the deal.

The Massachusetts firm, founded in 1927, is headed by Richard A. McGrath, president and CEO.

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“The goals for McGrath’s acquisition with Starkweather & Shepley are to leverage the resources S and S has in such a way as to further improve service and insurance design for each insured as well to further expand our collective footprint in Central and Western Massachusetts,” McGrath said in a statement.

The purchase marks Starkweather & Shepley’s first of the year, and signals the company’s continued effort to expand its footprint through acquisitions. The agency already has a local office in Sturbridge.

“As one of the largest privately held independent agencies in the U.S., we are always looking for opportunities to expand our services,” said Larry Keefe, chairman and CEO, Starkweather & Shepley.

Keefe took over the top executive position last month.

“The firm has been in business for 138 years and we take great pride in our reputation for providing quality insurance products and excellent customer services,” he added. “We are very excited to have McGrath Insurance join the Massachusetts operations.”

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