Confie, which is backed by ABRY Partners, has acquired two insurance brokerages in New York State: Lloyd D. Sprague & Son Inc (Dba Sprague Insurance) and J.N. Mason Agency Inc. Financial terms weren’t announced. Corning, New York-based Sprague offers personal lines and small commercial insurance. J.N. Mason offers personal lines and small commercial insurance.
HUNTINGTON BEACH, Calif., July 7, 2016 /PRNewswire/ — Confie, a national provider of personal and commercial lines insurance, announced today that it has acquired two insurance brokerages in New York State – Lloyd D. Sprague & Son, Inc. (Dba Sprague Insurance) and J.N. Mason Agency, Inc. Confie has completed 11 acquisitions thus far in 2016.
Sprague Insurance is a third generation agency that has provided service to businesses and residents since it was originally founded in 1848. It is a third generation agency, having been continuously owned and operated by the Sprague family since 1921. Based in Corning, NY, Sprague offers personal lines and small commercial insurance. Andrew and Christine Sprague will continue in management capacities with the company and Sprague’s 12 employees will continue with Confie to operate the business.
J.N. Mason Agency, Inc. was established in 1987 and serves customers in New York and Pennsylvania from its New York locations in Hancock and Monticello, offering personal lines and small commercial insurance. J.N. Mason’s operations will continue at their two current locations and Confie is retaining all eight employees.
Valeria Rico, Chief Executive Officer of Confie, said, “Both Sprague and J.N. Masonhave been respected competitors in their local communities for decades. Our combined organizations will provide expanded services and product offerings. Looking forward toward the remainder of the year we are excited about the robust pipeline of investment opportunities we continue to evaluate and expect to complete transactions of a similar caliber to the Sprague and Mason investments.”
About Confie 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 700 retail locations and generates annual revenues approaching $500 million. The company has leading market positions in California, Arizona, Texas, Florida,Washington, Oregon, Massachusetts, 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.
Contact: Mordy Rothberg Executive Chairman Confie firstname.lastname@example.org