BCP makes âsignificant investmentâ in Metairie-based Gray Casualty & Surety
Terms of the transaction were not disclosed.Â
Through the deal, BCP will leverage its resources to grow capacity for Gray, which provides surety bonds to emerging and mid-market contractors, partners with professional bond agents to provide bond options across the U.S. and underwrites commercial bonds related to licenses, permits and other regulatory requirements.
In a prepared statement, BCP founder Jim Berhnard says Grayâs insurance platform will serve as âa natural extension of [BCPâs] construction and infrastructure expertise.âÂ
Meanwhile, Michael Gray, CEO and president of Gray Insurance, which owns the surety company, says he is excited about the growth potential the partnership with BCP holds.Â