K2 Insurance acquires Rockhill’s gas and propane business

K2 Insurance Services acquired the Rockhill Insurance Group’s general liability and its gas and propane distribution lines of business.

The transaction includes K2’s purchase of Rockhill subsidiary Partners General Insurance Agency (PGIA), reports the company. The PGIA general liability operations will continue in their current locations of Simi Valley, California; Naperville, Illinois; Richmond, Virginia; and Dallas. The gas and propane distribution operations will continue under K2 in Conway, Arkansas.

“We have known the principles of these diverse business segments for several years and are excited to be bringing their expertise to the K2 platform,” says Bob Kimmel, president and CEO of K2.

Rockhill is a subsidiary of State Automobile Mutual Insurance Co., a super-regional property and casualty insurance holding company. Financial terms of the transaction were not disclosed. Keefe, Bruyette & Woods served as financial adviser to State Auto in the transaction.