Confie, a portfolio company of ABRY Partners, said Monday it acquired three insurance agencies: Most Insurance LLC of Tampa, Florida; Fair Price Insurance Inc of New York (the Bronx), and; Duane Sammons Insurance Center Inc of Bellingham, Washington. Financial terms weren’t announced.
HUNTINGTON BEACH, CA, January 11, 2016 – Confie, a national provider of personal and commercial lines insurance, announced today the acquisition of three insurance agencies operating on both U.S. coasts: Most Insurance, LLC of Tampa, FL; Fair Price Insurance, Inc. in The Bronx, NY, and; Duane Sammons Insurance Center, Inc. of Bellingham, WA.
Established by Bob Most in 1973, Most Insurance, LLC is a family owned and operated business. With three locations in the metro-Tampa area – Armenia, Fish Hawk, and Dade City – Most’s primary focus is preferred personal auto/home and small commercial insurance. Bob Most’s sons Craig and Eric will remain with the company and continue to manage the agency operations going forward.
Fair Price Insurance, Inc. is a specialty auto insurance agency that buttresses Confie’s first Bronx acquisition made in 2015. The agency’s location provides an opportunity for greater market penetration. The third acquisition is Duane Sammons Insurance Center, Inc., which has served the local community of Bellingham for 30 years. Duane Sammons provides personal and small commercial insurance lines. The former owner of Duane Sammons will remain with Confie.
Commenting on the acquisitions, Valeria Rico, Chief Executive Officer of Confie, said, “We are very pleased to begin the New Year with these exciting additions to the Confie family of companies. These firms will benefit from our industry knowledge and will enjoy access to a greater range of technical, financial, professional and marketing resources. Most Insurance will serve as a preferred platform to further build our presence in the Tampa area, and Duane Sammons Insurance fits very well with our plan to grow a preferred platform in the Northwest. Fair Price Insurance is the second acquisition in the Bronx and is just the beginning of our expansion plans for the Boroughs of New York City.”
Established in 2008, Confie is a leading, California-based national insurance distribution company primarily focused on personal lines and small commercial insurance. The experienced Confie management team continues to build Confie’s portfolio of regional personal lines brokerages. Today, Confie has over 680 retail locations and generates annual revenues of approximately $500 million. 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 is a portfolio company of ABRY Partners. For more information about Confie, please visit www.confie.com.