Confie, a portfolio company of ABRY Partners, has acquired insurance brokerages in New Jersey, Texas and New York. They include Salermo Insurance Agency LLC located in Elizabeth, New Jersey; Hulme Corporation, dba Alamo Auto Insurance of East Texas, that is based in Tyler, Texas; and, Lockwood Agency Inc of Jamestown, New York. Financial terms weren’t announced.
HUNTINGTON BEACH, CA, October 26, 2016 – Confie, a national provider of personal and commercial lines insurance, announced today the acquisitions of insurance brokerages in New Jersey, Texas and New York, continuing its expansion program throughout the U.S. Year to date, Confie has completed 17 acquisitions.
Two of the agencies acquired by Confie focus on providing non-standard auto insurance: Salermo Insurance Agency, LLC, founded in 1978 and located in Elizabeth, NJ; and Hulme Corporation, dba Alamo Auto Insurance of East Texas, founded in 2001 and based in Tyler, TX. Additionally, Confie acquired Lockwood Agency, Inc. in Jamestown, NY, which was founded in 1971 and provides preferred personal lines and small commercial insurance.
Chief Executive Officer of Confie, Valeria Rico, said, “We continue to integrate outstanding agencies into a powerful network that offers customers high quality insurance products and services. We are very pleased to partner with these new agencies to further expand Confie’s business model in these areas.”
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 of approximately $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.
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