ABRY-backed Confie Seguros buys two insurance agencies in Texas and Washington

Confie Seguros, which is backed by ABRY Partners, has bought the assets of Garland, Texas-based auto insurance agency Carallo Insurance Group and a retail division of PayneWest Insurance in Marysville, Washington, which provides auto, home and small commercial insurance. No financial terms were disclosed.

PRESS RELEASE

HUNTINGTON BEACH, CA, October 8, 2014 – Confie Seguros, a national provider of personal lines insurance, announced today that it has acquired the assets of Carallo Insurance Group, Inc., an auto insurance agency in Garland, Texas; and a retail division of PayneWest Insurance in Marysville, Washington (formerly Wagner Insurance), which specializes in auto, home and small commercial insurance.

Joe Waked, Chairman of Confie Seguros, said, “We continue to build our national network with high quality acquisitions and we welcome the management and associates of these outstanding agencies to the Confie Seguros family. They will contribute to our continued growth and we look forward to the successful integration of these businesses. At the same time, we continue to pursue our diligent approach of partnering with well managed and successful firms identified from our robust pipeline of opportunities.”

Confie has acquired and successfully integrated over 70 businesses since its inception and has grown to a national retail organization that oversees over 560 offices. The company last week announced three acquisitions in New York and Washington state.

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 continues to build Confie Seguros’ portfolio of regional personal lines brokerages, and today has annual revenue of approximately $350 million and over 560 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.