Confie Seguros, which is backed by ABRY Partners, has acquired four regional insurance brokerages in Florida and Nevada. The buys include Maurisset Insurance, CNS Insurance Services, and Briar Bay Insurance, as well as Got Insurance of Las Vegas, N.V. Financial terms were not announced.
Confie Seguros, a rapidly growing national provider of
personal lines insurance focused on the needs of Hispanic consumers, today announced the
acquisition of four regional insurance brokerages in Florida and Nevada, which will further
expand the company’s operations in its existing markets.
Confie Seguros completed the acquisitions of Florida-based Maurisset Insurance, CNS Insurance
Services, and Briar Bay Insurance, as well as Got Insurance of Las Vegas, NV.
Joe Waked, CEO of Confie Seguros, said, “We are pleased to welcome these growing and well
run agencies into our expanding portfolio of companies. We have now completed 19 transactions
in 2012, an achievement which is representative of our very robust pipeline of potential
transactions in this fragmented industry.” Mr. Waked added that the company is currently
evaluating strategic targets in other states.
Confie Seguros has built a national portfolio of regional auto insurance brokerages. The
company was rated among the top 10 in revenues in Insurance Journal’s latest top 100 ranking
of insurance agencies and in Best’s Review’s 2012 Top 20 Global Insurance Brokers.
About Confie Seguros
Established in 2008, Confie Seguros is a leading, California-based national insurance distribution
company primarily focused on the insurance needs of Hispanic consumers. The experienced
Confie Seguros management team, led by CEO Joe Waked, continues to build Confie Seguros’
portfolio of regional auto insurance brokerages, and today it has annual revenue of over $200
million with more than 300 retail locations. The company has leading market positions in
California, Arizona, Texas, Florida, Washington, Oregon, New York, New Jersey, and Nevada
and expects to continue its expansion in those and other states, including Illinois, Georgia, and
the Carolinas. Confie Seguros is a portfolio company of ABRY Partners. For more information
about Confie Seguros, please visit www.confieseguros.com.Get your FREE trial or subscribe now to Buyouts to find new deal opportunities, super-charge your fundraising efforts and track top managers.