Acted as exclusive financial advisor to JS Clark Agency in its sale to AssuredPartners. Located in Southfield, MI, JS Clark provides employee benefit services to over 300 clients throughout the country. The agency currently reports annualized revenues of $5.3 million. Following the acquisition, the team of 30 employees will remain under the current operational structure and leadership of Joel S. Clark.
Acted as the exclusive financial advisor to Columbia Insurance Group (“CIG”) in its renewal rights sale of farmowners business to ECM Insurance Group. ECM Insurance Group, based in Everett, Pennsylvania, will acquire the renewal rights to all of CIG’s farmowners business. As part of the transaction, Missouri domiciled Citizens Mutual Insurance Company will merge into Everett Cash Mutual Insurance Company, the parent company of ECM Insurance Group. Columbia Insurance Group produced $15 million of farmowners related business in 2017.
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Acted as exclusive financial advisor to DBR Group in its sale to The Hilb Group. Founded in 2004, DBR is an employee benefit and actuarial consulting firm providing a full range of benefits consulting and brokerage services to organizations of all sizes, including corporations, non-profits, Taft-Hartley funds, and public sector employers. Following the acquisition, DBR will continue to operate out of their Framingham, MA location under the direction of the founding leadership: Paul Desrosiers, Chris Bean and Jim Roche.
Acted as exclusive financial advisor to Roemer Insurance and STIG (“Roemer”) in their sale to AssuredPartners. Roemer was founded in 1934 by Wellington F. Roemer and has always maintained a focus on servicing the trucking industry while over the years branching into additional lines of coverage. Roemer currently reports annualized revenues of $4 million. Following the acquisition, the team of 26 will remain under the current organizational structure under the leadership of President and CEO Rocky Roemer, COO Mike Lawrence and STIG President Denny Schwartz.
Acted as exclusive financial advisor to Grange Life Insurance Company in its sale to Kansas City Life Insurance Company. Based in Columbus, OH, Grange Life is a long-standing Midwestern life insurer that provides financial protection through life insurance and annuity products. Established in 1895 and based in Kansas City, MO, Kansas City Life Insurance Company is a publicly traded life insurance company, operating in 49 states and the District of Columbia. The acquisition creates an Ohio-based hub for Kansas City Life, further strengthening its geographic composition. Following the acquisition, Grange Life personnel will continue to service existing policyholders and will assist in distributing Grange Life and Kansas City Life products. Theresa Mason will continue to serve as President of Grange Life after the acquisition is completed.
Acted as exclusive financial advisor to H.R. Keller & Co., Inc. in its sale to Arthur J. Gallagher & Co. Founded in 1962, H.R. Keller & Co. is a Managing General Agency (MGA), surplus lines broker and program administrator serving clients primarily in New York and the surrounding states. Eric Keller, Andrew Coric and their associates will continue to operate from their current location under the direction of Joel Cavaness, President of Risk Placement Services, Inc. (RPS), Gallagher's wholesale broker and MGA.
Acted as exclusive financial advisor to RIC Insurance General Agency, Inc. in its sale to Worldwide Facilities, LLC. RIC is a wholesale insurance brokerage and managing general agency with office locations across the western United States. RIC specializes in small to medium-sized commercial business as well as personal lines business. Following the acquisition, RIC will continue to maintain its client and market relationships and commitments as a division of Worldwide Facilities.
Acted as exclusive financial advisor to Direct Auto Insurance Company in its sale to NI Holdings, Inc. Headquartered in Chicago, IL, Direct Auto underwrites specialty automobile insurance in the state of Illinois through independent agents. NI Holdings, Inc. is an insurance holding company, which fully owns Nodak Insurance Company. Nodak’s acquisition of Direct Auto furthers its goal of diversifying its business and expanding its insurance operations. Joe Fitzgerald, the President of Direct Auto, and one of the principal shareholders will continue to manage the Direct Auto insurance operations.
Acted as exclusive financial advisor to JenCap Holdings LLC in its acquisition of Genesee General. Founded in 1982, Genesee General is a full-service managing general agency and wholesale broker that specializes in commercial insurance products for the excess and surplus lines industry as well as servicing the catastrophe and program business markets. Genesee General is based in Alpharetta, GA and has been led by Roger Ware since 1998. JenCap was formed in March 2016 by global alternative asset manager The Carlyle Group and JenCap management to consolidate specialty insurance distribution businesses, including managing general agents, program managers and transactional wholesale brokers. The acquisition of Genesee General is the seventh transaction by JenCap since its founding, and places the company among the largest wholesale brokers in the U.S.
Acted as exclusive financial advisor to Manning & Nozick Insurance Agency in its sale to Brown & Brown. Manning & Nozick has been a presence in Atlanta for over 70 years. The agency provides a wide variety of personal and business insurance products and services to clients in the greater Atlanta area and nationally. Following the acquisition, Manning & Nozick will combine with Brown & Brown’s existing Atlanta offices. Brian Coffsky, Robert Franco and Stanley Westerman, the principals of Manning & Nozick, are all remaining with the agency and will continue to serve their clients and grow their business.
