Merger Creates Sizable Agency to Focus on Growth in Manhattan, Long Island and Westchester.
September 12, 2016 – The Capacity Group today announced the merger of its two largest affiliated insurance agencies in New York. In the merger, ARM-Capacity of New York LLC, headquartered in Manhattan, merged with and into Capacity Group of NY LLC, headquartered in Lake Success, New York. The combined entity will operate under the name of Capacity Group of NY LLC (“CGNY”) and will maintain its current office locations.
The merged company, together with its affiliated agency investments, sells a broad array of commercial and personal lines of insurance products to clients primarily in Manhattan, Long Island and Westchester. CGNY has investments in a number of affiliated insurance agencies, including Westchester-based Mt. Pleasant Capacity, LLC and Manhattan based Castle Rock Capacity LLC.
Robert G. Lull, CEO of The Capacity Group, stated “The merger of CGNY and ARM-Capacity and their affiliates is the next step in our strategic plan for growing our New York operations. Under the very competent leadership of Robert Salem, we now have one major rapidly growing flagship entity heading our New York operations, with revenues approaching $10 million. We want to continue our growth trajectory, particularly by entering into strategic partnerships with the owners of high quality agencies in the New York area.”
About The Capacity Group
The Capacity Group offers an expansive range of standard and customized insurance and financial products, while providing superior customer service for all types of businesses, industries, and individuals. It has a diversified insurance distribution and product platform in Retail, Wholesale and Specialty Program business, as well as all types of personal, commercial, specialty and benefits lines of business. The firm is headquartered in Mahwah, NJ and has 19 offices nationwide. It has grown organically and through a series of acquisitions and strategic partnerships to become one of the 100 largest insurance brokerage firms in the U.S. It is currently ranked number 39 by Business Insurance magazine, and is among the Top 25 privately held brokerage firms in the U.S. by Insurance Journal magazine.
For additional information, contact;
Robert G. Lull, CEO – The Capacity Group (201) 661-2000
Robert Salem, President – CGNY (516) 280-7707