New York-based investment fund Scottish American Capital has acquired managing general agent Buckingham Badler Associates, also of New York.
Founded in 1973, Buckingham Badler Associates is based in Staten Island, N.Y., with additional offices in Islandia on Long Island, N.Y., and Saugerties in Ulster County, N.Y.
Buckingham is also an active participant in the excess and surplus lines business and serves as a licensed E&S broker in New York, New Jersey, Pennsylvania, Connecticut, and California.
Scottish American is headed by Paul Thomson who will lead Buckingham Badler. Buckingham Badler’s principals Al Caputo and Jane Dalli will remain as vice presidents of the business.
Scottish American Capital is an investment fund formed by a group of high net worth individuals to invest in and actively manage a privately held insurance distribution business in the United States. Its previous acquisitions include Orange County, Calif.-based MGAYates & Associates.