Relation buys Mid-State Insurance as it deepens its Wisconsin footprint

Relation Insurance Services has acquired the assets of Mid-State Insurance , a Mequon, Wisconsin agency offering commercial, employee benefits, and personal lines coverage. The move extends the Chicago-based brokerage's Midwest presence. Terms were not disclosed.

Founded in 1986 as a life and health agency on Milwaukee's North Shore, Mid-State expanded into a full-service, multi-line operation by 1989. It mainly serves clients across Wisconsin and northern Illinois. Relation runs more than 90 offices, employs roughly 1,350 people, and serves over 230,000 clients.

The transaction took effect March 31, but Relation announced it July 28 — four months after closing. It is among the first deals completed under new owner BayPine , the Boston-based private equity firm that acquired Relation from Aquiline Capital Partners in January 2026.

Chief executive officer Tim Hall said the company plans to expand its Wisconsin presence through the Mid-State team. Since Aquiline's 2019 investment, Relation has completed more than 100 acquisitions, and BayPine has named continued dealmaking a priority alongside talent recruitment and specialty capability.

"We're excited to join this growing team that shares values and enables us to enhance our services and offerings to our clients through additional resources, capabilities, and national scale," said Joe LaBarbera, president of Mid-State Insurance.

Relation has run parallel expansion tracks in 2026. It acquired California crop insurer Crop Rx in May and added several specialty lines executives in July, broadening both its geographic and product reach.

Relation is buying while the market cools. North American insurance agency acquisitions fell to 292 in the first half of 2026, down 15% year on year and the lowest first-half total in seven years, according to OPTIS Partners. A backer with an appetite for deals lets Relation keep consolidating as rivals pull back.