The acquisition comes amid a period of rapid expansion after Venbrook partnered with private equity firm Parthenon Capital last year.

IIB has provided insurance and risk management services to commercial real estate and high-net-worth personal lines clients for more than 30 years. The acquisition will enhance Venbrook’s expertise in commercial real estate, including its proprietary real estate-focused specialty programs. The deal also bolsters Venbrook’s presence in New England.

"We could not be more thrilled to join the Venbrook team through this transformative partnership,” said Thomas E. Sleeper, founder of IIB. “Venbrook has built an outstanding culture and reputation that aligns perfectly with IIB’s approach to providing clients with superior service and risk management solutions. My team and I will continue to provide the same customer-centric service they have come to know and trust from IIB over the last three decades. We look forward to leveraging Venbrook’s strength in customized real estate MGA programs and claims administration and adjusting services to bring even more value to our clients in the months and years to come.”

Sleeper will continue to lead IIB’s business, and will become managing director of Venbrook Insurance Services Northeast Real Estate, Venbrook said.

“We are excited to collaborate with Tom as we continue to invest in our growing stable of top-caliber professionals on the East Coast,” said Jason Turner, founder and CEO of Venbrook. “Tom and his team at IIB have built an exceptional business by executing on simple fundamental principles: superb client value delivered through relationships built on trust. From tailoring comprehensive insurance policy packages to their aggressive, hands-on strategy with successfully settling claims on behalf of clients, IIB’s approach to client service aligns completely with Venbrook’s. IIB is a perfect complement and accelerant to our growing suite of nationwide commercial real estate risk management services.”