MidCap Advisors LLC, a boutique investment banking firm based in New York with offices throughout the United States, advised William Palumbo Insurance Agency, a Massachusetts insurance brokerage firm, in connection with the sale of its assets to Hub International New England. Founded in 1932, Palumbo is a full service insurance brokerage offering property and casualty, personal lines, employee benefits, life insurance and other financial services throughout Massachusetts and Rhode Island. The company operated out of six offices in Eastern and Central Massachusetts. Palumbo's primary shareholders were John and Marisa LaRocca.

John LaRocca is also the Founder and Managing Partner of the Advantage Insurance Agency Network, a strategic alliance of 15 independent agencies that provides access to insurance markets and products, as well as offering agencies expert administrative support. This group acts as both a buying group and managing general agent to improve profitability and streamline operations for members.

"We specifically wanted MidCap to advise us on this transaction and I couldn't be happier," said John LaRocca, Palumbo's CEO. "MidCap really keyed in on what it was that I was trying to accomplish with my business. They worked hard to find me the right partner to perpetuate my business. From the first day I met with MidCap until the transaction was completed, I was very comfortable that they were looking out for my best interests every step of the way."

MidCap Advisors is a national middle market investment banking firm that has extensive experience representing insurance and financial services firms. MidCap's Principals and Managing Directors have arranged over $2 billion in transactions for clients.