The firm says that the addition of Norcom extends its reach into a region of Connecticut that fits closely with its strategy.
Glastonbury-based broker Smith Brothers Insurance has acquired Norcom Insurance, headquartered in Avon.
The firm says that the addition of Norcom enhances its family-focused client base and extends its reach into a region of Connecticut that fits closely with its strategy.
Six Norcom Insurance employees will join Smith Brothers. The longtime president of Norcom, Wes Hortabuck, will continue to lead business development.
Terms of the deal were not disclosed.
Smith Brothers has
grown through several acquisitions in recent years. Since 2014 it has been partnered with Broadstreet Partners, an investment firm that utilizes a co-ownership model.
Smith Brothers operates across Connecticut, Massachusetts, New Jersey and New York. The firm was founded in Hartford in 1971 by Bob and Brian Smith. Now helmed by Bob’s son Joe, it has grown to some 300 employees.
