Skip to main content

Stonybrook Capital Advises Northeast Coverages on Its Acquisition of AUI Inc.

Written by Customer Service on . Posted in Mergers And Acquisitions.

NEW YORK, Nov. 03, 2020 (GLOBE NEWSWIRE) — Stonybrook Capital, LLC, is pleased to announce that it has advised Northeast Coverages Inc., on the acquisition of Texan managing general agency and surplus lines broker AUI Inc. Stonybrook Risk Management, LLC, a wholly-owned subsidiary of Stonybrook Capital, LLC and licensed reinsurance intermediary, served as the exclusive reinsurance intermediary for Northeast Coverages MGA.
Founded in 2001, Northeast Coverages Inc. is a New York based Wholesale/MGA Agency licensed in 46 states. Northeast Coverages offers a diverse range of products and specializes in commercial property and liability risks.AUI Inc. is headquartered in Austin, Texas, and writes commercial property and liability insurance, as well as niche sub-classes of business including liquor liability. AUI Inc. is licensed in Texas and Colorado.“With the acquisition of AUI Inc. in Austin, we have been able to expand our distribution further into the southwest, which has been a huge opportunity for our organization,” said Rob Mangi, Chief Executive Officer of Northeast Coverages.“Since its founding in 2012, Stonybrook Capital has focused on providing support to underserved markets to meet their unique needs,” said Joseph Scheerer, Principal and Chief Executive Officer of Stonybrook Capital. Scheerer continued, “We look forward to continuing to serve Northeast Coverages in their efforts to expand their business.”Please find a case study of the transaction by clicking hereAbout Stonybrook Capital and Risk Management
Stonybrook, focused exclusively on the insurance industry vertical, is an investment banking and reinsurance broking firm with headquarters in New York City, and offices in London, and Bermuda.Securities transactions are executed through Weild & Co., member FINRA | SIPC.Corporate contact: Kendel Bell
Tel: +1 (646) 927 0438
cao@stonybrookcapital.comRegards,
Stonybrook Capital 

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.