Illinois-based Midwest Indemnity Corp. for $9.9 million closed.

IAS, formerly Republic Environmental Systems, Inc., a spin-off of Republic Waste Industries, Inc., is a specialty insurance and bonding company. Bermuda resident Michael DeGroote is Republic's largest shareholder.

Midwest markets environmental and surety bond products in the US.

The acquisition is expected to add over $17 million in annual revenue to the company's current Century Surety Group business.

IAS also said that Century Surety had entered into a partnership with Gulf Insurance Company of New York.