Broker PCF Insurance Services continued its recent buying spree with the purchase of four insurance businesses in North Carolina, Pennsylvania, Mississippi, and Iowa.
“At PCF Insurance, we are committed to accelerated and strategic expansion through M&A—not to be confused with high-volume. Our approach to M&A enables us to grow our operations in key markets—based on our analysis for growth potential and alignment with our current footprint—while ensuring that each new business that we integrate aligns with our long-term vision and enhances our capabilities and specialization in key industry verticals,” said Brooke K. DeWyze, chief development officer at PCF Insurance.
Lehi, Utah-based PCF said it acquired The Brady Agency, based in North Carolina with service to Virginia; Ignitist, a Medicare and senior benefits specialist out of Pennsylvania; Roseberry Insurance Agency, a P/C coverage specialist in Mississippi; and Sinnot Agency of Iowa. PCF said Brady will join up with Insurance Associates of Triad, a PCF business in Asheboro, North Carolina.
The brokerage operates in 40 states, it said. In May, PCF acquired All Star Insurance in Texas and Encore Advisors in Georgia shortly after it announced the closure of $400 million in incremental debt financing led by Blue Owl, with the goal of accelerating M&A. In April PCF acquired Alabama’s MK Insurance Group.
PCF has also been active on the executive front, promoting Felix Morgan to chief executive officer and Brandon Gray to chief financial officer. the broker also announced a handful of executive team members in February.
Topics
Mergers & Acquisitions
Agencies
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