A fast-growing Lower Gwynedd insurance brokerage is entering its next chapter after being acquired by a national player, according to Jeff Blumenthal for The Philadelphia Business Journal.
Capstone Group has been acquired by The Baldwin Group, a publicly traded Tampa insurance and employee benefits firm. Financial terms of the deal were not disclosed.
Founded in 2013 by Kevin Fox, Joseph Fox, and Daniel McGill, Capstone has built a strong reputation in risk management, group health and ancillary benefits, and property and casualty insurance. The firm reported just $800,000 in annual revenue in 2022, then surged to more than $6.5 million a year later. That is a growth rate of more than 700%. Last summer, Capstone listed 29 employees and was named one of the Business Journal’s Best Places to Work.
Baldwin, which reported $1.4 billion in revenue in 2024 and employs more than 5,000 people, has been on an acquisition spree since going public in 2019.
For Capstone, managing partner Kevin Fox said the move reflects the increasingly complex needs of clients and a rapidly evolving insurance industry, making alignment with a national firm “built for the future” a natural next step.
To learn more about the acquisition and Baldwin’s expansion into Lower Gwynedd, visit The Philadelphia Business Journal.
