Waukesha-based R&R Insurance Services Inc. announced Friday that it plans to acquire Pewaukee-based Frett Barrington Ltd. from owner Terry Frett, effective July 1.
R&R, which is the largest independent insurance agency in the state, said it is making the acquisition to provide more resources and employee benefits offerings to both insurance agencies. Founded in 1975, R&R offers property casualty, employee benefits, workers compensation, liability, life, dental and home/auto insurance. It has about 170 employees at offices in Waukesha, Menomonee Falls, Oconomowoc, West Bend and Beaver Dam.
“This is a tremendous opportunity for all involved and we at R&R are lucky to be in this great position,” said Ken Riesch, president and owner of R&R Insurance. “It reinforces our commitment to do business in southeastern Wisconsin.”
Frett Barrington also is an independent insurance broker, and has been providing both individual and business insurance for more than 25 years from its Pewaukee office. Its nine employees all will be retained at R&R, and Terry Frett will continue to work at the firm, he said. The company will remain in its 3,100-square-foot Pewaukee office for now, but likely will move to the R&R building in Waukesha in January.
This merger will allow Frett Barrington to bring its expertise in employee benefits to R&R, which mainly focuses on commercial property and casualty, Frett said.
“It gives me an opportunity to continue doing what I enjoy most—helping employers deal with the headache of how do you afford health care,” he said.
Frett, 58, began looking into selling his company when he was evaluating succession plans.
“I have three adult children but they have all made certain insurance is not their vocation,” he said. “I was looking for what would be an organization that could benefit from what we do that’s family- and locally-owned, so that’s how we came together with R&R. I’m not retiring, but then realizing you’ve got to start planning. We’re on top of our game. We had our best year this last year.”
This is at least the third acquisition by R&R Insurance in the last two years. In 2015, R&R acquired Bartelt Insurance in Kewaskum. In 2014, R&R acquired Oconomowoc-based Snyder Insurance Agency.