Confie Seguros Buys Three More Insurance Firms

Confie Seguros, which is backed by Genstar Capital, has acquired three more insurance agencies. They include: Bradley Insurance of Las Vegas; A Auto Insurance World of West Palm Beach, Fla.; and, Ontario, Calif.-based Westside Auto. Confie said that it has appointed Chad Maxwell a SVP, mergers & acquisitions. Maxwell was previously a partner with Clear Lake Consulting.

PRESS RELEASE

Confie Seguros, a rapidly growing national provider of personal lines insurance focused on the needs of Hispanic consumers, continued its national expansion program with the announcement today of the addition of three insurance agencies. Confie has completed 13 acquisitions this year.

The three companies acquired are: Bradley Insurance Agency, Inc., Las Vegas, NV; A Auto Insurance World of West Palm Beach, FL and; Westside Auto, Ontario, CA.

Joe Waked, CEO of Confie Seguros, said, “The addition of these agencies strengthens Confie’s presence in important existing markets where we continue to achieve growth organically, as well as through targeted acquisitions.”

In addition, the company named Chad Maxwell, an insurance executive with extensive M&A experience, as Senior Vice President, Mergers & Acquisitions, to help Confie further its national acquisition strategy.

Mr. Maxwell has spent over 15 years focused exclusively on completing retail independent insurance agency mergers and acquisitions for both a publicly held company and as a partner with a national insurance consulting firm. Prior to joining Confie Seguros, Mr. Maxwell served as a Partner with Clear Lake Consulting. Mr. Maxwell has completed over 50 agency transactions during his career with values up to $10,000,000 in annualized revenues.

Mordy Rothberg, President of Confie Seguros, said, “We have worked with Chad in the past and we are impressed with his expertise and extensive industry relationships in the independent insurance industry. His experience will enable us to accelerate Confie’s growth. We are pleased that Chad has joined the Confie team and we look forward to working with him as we continue to further build our national footprint.”

Confie Seguros has built a national portfolio of regional auto insurance brokerages and the company was rated among the top 10 in revenues in Insurance Journal’s top 100 list of insurance agencies.

About Confie Seguros
Established in 2008, Confie Seguros is a leading, New York-based national insurance distribution company primarily focused on the insurance needs of Hispanic consumers. The company was founded in partnership by Genstar Capital, a leading private equity investment firm focused on accelerating growth and profitability of portfolio companies, and insurance industry executives. The experienced Confie Seguros management team continues to build its portfolio of regional auto insurance brokerages, and today has annual revenue approaching $200 million with over 300 retail locations. The company has leading market positions in California, Arizona, Texas, Florida, Washington, Oregon, New York, New Jersey, and Nevada and expects to continue its expansion in those and other states, including Illinois, Georgia, and the Carolinas. For more information about Confie Seguros, please visit www.confieseguros.com or call (310) 595-4149.