Independent insurance broker BRP Group has signed a definitive agreement to acquire substantially all assets of Wood Gutmann & Bogart Insurance Brokers.

The financial value of the deal, which was signed through BRP Group’s indirect subsidiaries including Burnham Benefits Insurance Services (Burnham), was not disclosed.

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The deal includes Wood Gutmann & Bogart Insurance Brokers’ some affiliates and related entities (collectively, WGB) as well.

WGB, which is a full-service middle-market broker, offers commercial, personal and employee benefits insurance solutions and services.

BRP Group CEO Trevor Baldwin said: “We believe that the combination of WGB’s commercial insurance expertise and Burnham’s benefits expertise will allow us to offer clients a truly comprehensive suite of solutions to meet all of their insurance needs.”

WGB, which brings nearly $29.7m in revenues, is expected to scale BRP Group’s West Coast operations.

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BRP Group noted that WGB’s expertise in areas such as construction, real estate, technology, manufacturing, security, and environmental compliments Burnham’s existing capabilities.

WGB CEO Kevin Bogart said: “This partnership brings together organizations that are culturally and philosophically aligned at the highest levels, and we look forward to growing our presence in both California and the Western US while providing both the framework and stability for the future leaders of our combined firm to thrive and carry forward our mission as passionate advocates.”

The deal, which is subject to certain conditions, is expected to close next month.

Meanwhile, BRP Group also launched a risk and resiliency consulting firm, called Atténuer Risk.