ABRY Partners-backed Confie Seguros acquires Ida Tunnell Insurance

Confie Seguros, a portfolio company of ABRY Partners, said Monday that it has acquired Ida Tunnell Insurance. No financial terms were disclosed. Based in Marble Falls, TX, Ida Tunnell is a provider of personal lines auto and homeowners insurance.

PRESS RELEASE

HUNTINGTON BEACH, CA, March 3, 2014 – Confie Seguros, a rapidly growing national provider of personal lines insurance, today announced the acquisition of Ida Tunnell Insurance, bringing its total number of offices in this dynamic state to 120.
Founded in 1991, Ida Tunnell is based in Marble Falls, TX, near Austin, and provides personal lines auto and homeowners insurance. The addition of Ida Tunnell further enhances Confie’s strong presence in Texas.
Joe Waked, CEO of Confie Seguros, said, “Confie continues to grow rapidly in Texas and the acquisition of Ida Tunnell helps us better provide additional coverage to our expanding client and geographic base in Texas. Going forward, we continue to be very impressed with our strong pipeline of transactions in Texas and nationally.”
About Confie Seguros
Established in 2008, Confie Seguros is a leading, California-based national insurance distribution company operating in 17 states and 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 and retail locations of approximately $300 million and 540, respectively. 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.