Bearence Management Group in West Des Moines has merged with North Risk Partners of St. Cloud, Minn. The merger was effective May 1. The new partnership accounts for $50 million in revenue, 265 employees and 21 locations across three states, according to a release. Bearence, with 80 employees in West Des Moines Moines, Mendota Heights, Minn., and Omaha, will operate under the North Risk Partners name. North Risk Partners CEO Chris Meidt remains CEO of the merged company, and Bearence’s managing partners, Dan Seemuth and Stan Hamann, have joined North Risk’s executive leadership team. Seemuth and Hamann have maintained their equity in the company and have also taken on division president roles for their respective offices: Seemuth in West Des Moines and Omaha, and Hamann in Mendota Heights, according to the release. For the last three years, North Risk and Bearence have been majority owned by BroadStreet Partners, a Columbus, Ohio-based capital investment group. BroadStreet’s model allows its business partners to operate autonomously and maintain local ownership while it provides financial and legal support to drive growth through acquisitions and organic sales. BroadStreet has partnerships with 20 other independent insurance brokerages across the country, making North Risk Partners-Bearence part of a top five network of brokers in the United States, the release said.