Ascension Insurance Buys Haas & Dodd

Ascension Insurance Inc., a Kansas City-based insurance and employee benefits agency focused on mid-market companies nationwide, has acquired Haas & Dodd Insurance of Atlanta. No financial terms were disclosed. Ascension Insurance is a portfolio company of Parthenon Capital and Century Capital Management.

PRESS RELEASE
Ascension Insurance, Inc. announces the acquisition of Haas & Dodd Insurance, Inc. of Atlanta, Ga., effective July 1, 2009. The agency specializes in property and casualty insurance and employee benefits solutions for businesses and individuals. Haas & Dodd will be Ascension’s second strategic acquisition in the Atlanta market following the acquisition of Bryant Wharton in January 2008.

Headquartered in Kansas City, Mo., Ascension Insurance, Inc. is a full-service insurance and employee benefits agency providing high-level brokerage and risk management services specifically to middle-market companies nationwide.

Ascension’s President and CEO Leonard P. Kline, Jr., commented, “The acquisition of Haas & Dodd expands our ability to provide the full scope of property and casualty, employee benefits and risk management to our clients in Atlanta and throughout the Southeast. We are pleased to welcome Charles Meriwether and his outstanding team of employees to Ascension and look forward to creating new opportunities together.”

Todd Bryant, president of Bryant Wharton, said, “Haas & Dodd brings deep expertise and a long-standing reputation for integrity and client service in the Atlanta market. We share a commitment to providing superior value for our clients, and we are looking forward to working with Charles to expand our shared portfolio of insurance and employee benefits solutions as part of the Ascension group.”

Founded in 1891, Haas & Dodd provides a broad range of insurance solutions, including property & casualty, employee benefits, workers’ compensation, professional liability, and bonds. Charles Meriwether, president of Haas & Dodd, added, “Throughout our history, we have always sought new ways to support and protect our customers and the things they value most. Joining Ascension will allow us to continue to provide the resources and expertise our customers count on from Haas & Dodd.”

About Ascension Insurance, Inc.
Based in Kansas City, Mo., Ascension Insurance, Inc. is led by President and CEO Leonard P. Kline, Jr. Ascension is ranked within the Top 35 largest agencies by revenue size, with over 400 employees and over 25 locations nationwide. Ascension’s corporate mission is to create a premier insurance agency that offers superior risk management and benefits consulting services while providing a rewarding professional environment that preserves the expertise and culture that made each operational center successful. Ascension is a privately held corporation. Together with its private equity partners, Parthenon Capital and Century Capital Management, Ascension Insurance Inc. expects to grow to $200 million in revenue over the next five years. To learn more, visit http://www.ascensionins.com