Confie Seguros, a portfolio company of ABRY Partners, has acquired three insurance brokerage firms. They are Lockport, New York-based Bower Insurance, Round Rock, Texas-based Guess Insurance Services and Charleston, SC-based Alliance Insurance Agency. No financial terms were disclosed.
HUNTINGTON BEACH, CA, August 6, 2014 – Confie Seguros, a national provider of personal lines insurance, announced today the acquisitions of three insurance brokerages, further solidifying the company’s existing footprint in several key states.
Among these strategic additions is Bower Insurance, an agency in Lockport, New York, providing auto, homeowners and small commercial insurance to the western New York region for over 50 years. Also recently acquired is Guess Insurance Services. Based in Round Rock, Texas, the brokerage operates two locations and has been serving the rapidly growing Williamson County near Austin for almost 20 years. Rounding out the list is the Alliance Insurance Agency, Inc. in Charleston, South Carolina. The agency operates Van Robinson Insurance, which has been serving the greater Charleston area for over 43 years, and Coastal Insurance, a provider of non-standard personal lines insurance.
Confie now operates 48 locations in New York, 114 in Texas and 12 in South Carolina.
Joe Waked, CEO of Confie Seguros, said, “We continue to evaluate perhaps the most robust pipeline yet of quality transactions. We remain highly selective to partner only with those agencies whose quality people, fundamental values and established network of clients will help us broaden our portfolio of services, and further expand our operations in key regions. Confie continues to grow both organically, and the acquisition of local and regional insurance agencies has enabled us to thrive in the most challenging economic environment.”
Over the past 18 months, Confie has grown to a national retail organization with over 550 retail locations.
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 has annual revenue of more than $300 million and over 550 retail locations. The company has leading market positions in California, Arizona, Texas, Florida, Washington, Oregon, New York, New Jersey, Nevada, Illinois, Alabama, Kansas, Wisconsin, South Carolina, Missouri, Louisiana, and Indiana and expects to continue its expansion in those and other states, including Georgia, Virginia and North Carolina. Confie Seguros is a portfolio company of ABRY Partners. For more information about Confie Seguros, please visit www.confieseguros.com.
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