TPG-backed Third Wave Insurance acquires five Southeast insurance and advisory firms

Third Wave Insurance, a company backed by private equity firm TPG, has acquired five insurance and advisory firms in the Southeast United States. The acquisitions include Massad Olinde, a Baton Rouge-based employee benefits and retirement advisory business; Acuity Group, a Ridgeland-based employee benefits brokerage that includes BAS, its third-party administrator for self-funded health plans; and AWS, a commercial property and casualty agency serving the greater New Orleans market. The deal expands Third Wave's footprint in the region, adding capabilities in employee benefits, retirement advisory, and commercial insurance. The announcement was reported by PE Hub, a private equity news source.