Springfield insurance firm makes Texas purchase

M.J. Kelly Co. announced yesterday that its Arkansas division has reached an agreement to purchase certain assets from Fort Worth, Texas-based Russell Grace Inc.

M.J. Kelly, a wholesale insurance brokerage firm specializing in property and casualty, general liability and transportation risks, will add Russell Grace’s seven employees, including president Robert Grace, to its own Fort Worth facility.

The acquisition, according to M.J. Kelly President James Adams, was completed May 1 for an undisclosed amount.

“This acquisition will significantly expand our Texas production, and we are glad to welcome the experienced staff and producers of Russell Grace Inc.,” Adams said in a news release.

M.J. Kelly has 10 branch offices in nine states in the South and Midwest. Adams declined to disclose the company’s total number of employees.