The move marks the second acquisition announced by the firm this month and is part of a broader strategy to enhance services and broaden its reach along the Eastern Seaboard.
Founded in 2012 in Ridgeville, South Carolina, Cypress Risk Management has established a strong reputation for serving the forestry and trucking industries. Known for its close client relationships, the agency has leveraged its team’s agricultural and business backgrounds to create tailored insurance solutions for local businesses.
Malcolm King, chief executive of King Risk Partners, expressed enthusiasm about the acquisition, stating, “Their niche expertise, combined with their dedication to excellent customer service, aligns perfectly with our mission to provide specialised, client-focused insurance solutions. We see this as a great opportunity to strengthen our offerings in the forestry and trucking sectors, both critical industries in the region.”
Cypress owner Matthew Hoover described the deal as a “fantastic opportunity” for both the firm and its clients, emphasising the expanded resources and offerings that will now be available. “We are looking forward to this next chapter and all the possibilities it brings,” Hoover said.
In addition to these acquisitions, King Risk Partners recently secured Exclusive Programs, a specialist in waste management insurance, further underscoring its commitment to expanding its portfolio and capabilities in targeted sectors.
Earlier in September, King Risk Partners also announced its acquisition of Coates Insurance Agency, based in Virginia and led by principal Bryant Clinton Coates. The acquisition represented King Risk Partners’ entry into the Virginia market. “Joining King Risk Partners allows us to expand our resources and expertise, enhancing the value we provide to our clients,” Coates remarked at the time.
He added “We have always been focused on delivering the best possible service, and with King’s support, we will be able to take that to the next level.”
