Confie Seguros, a portfolio company of ABRY Partners, has acquired 1 Stop Financial Service Centers of America. No financial terms were disclosed. Based in Texas, 1 Stop Financial Service Centers of America is a provider for a variety of insurance needs.
HUNTINGTON BEACH, CA, February 3, 2014 – Confie Seguros, a rapidly growing national provider of personal lines insurance, today announced the acquisition of 1 Stop Financial Service Centers of America, a provider for a variety of insurance needs, as well as short term financial assistance, and professional tax preparation services with 16 offices located in 10 cities throughout central Texas.
The addition of 1 Stop will enhance Confie’s already strong presence in the state and allow the company to distribute personal insurance products to a broader customer base via the integration of 1 Stop into Texas State Low Cost Insurance, which was acquired by Confie last year.
1 Stop, based in Round Rock, TX near Austin, was founded in 2005 and has since grown organically and through five acquisitions.
Joe Waked, CEO of Confie Seguros, said, “We were very impressed with the growth of 1 Stop since its founding and we look forward to rapidly integrating the customer base into the Confie family of companies. This acquisition further solidifies our leading position as a national insurance broker and we look forward to working with the talented 1 Stop executive team in continuing the company’s growth.”
Confie continues to evaluate a strong pipeline of transactions and expects 2014 to be its busiest year yet.
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 it has annual revenue approaching $300 million with approximately 540 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.