Insurvia, a portfolio company of Gemspring Capital, has acquired Dallas-based La Familia Agency, an independent insurance agency. No financial terms were disclosed. LFA specializes in providing automotive and related insurance products and services to the Hispanic community.
LAS VEGAS, May 3, 2021 /PRNewswire/ — Insurvia, a Gemspring Capital portfolio company with holdings including Fiesta Insurance and Bravo General, announced that it has acquired La Familia Agency, LLC, a market-leading independent insurance agency based in Dallas, Texas.
La Familia Agency (or “LFA”) specializes in providing automotive and related insurance products and services to the Hispanic community from its 67 locations across Texas and its innovative retail operations infrastructure. LFA has been founder-owned and operated since inception and will continue to be led by its original founders.
“We are excited to join forces with the La Familia Agency team and are thrilled to partner with such an innovative, fast-growing organization that complements our mission of serving the non-standard insurance market,” said John Hollar, CEO of Insurvia. “LFA’s expertise in company-owned retail storefronts will allow us to accelerate our national expansion and strengthen Insurvia’s presence in the large and important Texas market.”
“We are very excited to join an amazing team that, like us, works extremely hard to serve the Hispanic community in their local neighborhoods,” said Danish Charanya, co-founder and President of La Familia Agency. “This transaction is great news for our customers and our employees, and we are excited to capitalize on the functional synergies across our businesses.”
Insurvia is an insurance services holding company with subsidiaries including Fiesta Insurance, a leading retail franchisor of insurance products and services with 70 franchisees operating 235 retail stores across nine states and a growing eCommerce platform, and Bravo General, an MGA with an omnichannel distribution strategy serving the automotive market. Insurvia is headquartered in Las Vegas, NV. For more information, visit www.insurvia.com.
About La Familia Agency
La Familia Agency, LLC is an independent insurance agency distributing insurance and related services through retail storefronts in Texas. Formed in 2010, the company has grown to 67 stores and over 200 employees serving the Hispanic community, primarily in Dallas-Fort Worth, Waco, and San Antonio. LFA is headquartered in Dallas, Texas. For more information, visit www.lafamiliainsurance.com
About Gemspring Capital
Gemspring Capital, a Westport, Connecticut-based private equity firm with $1.1 billion of capital under management, provides flexible capital solutions to lower middle market companies. Gemspring partners with talented management teams and takes a partnership approach to helping drive revenue growth and value creation. Target companies have up to $500 million in revenue and are in the aerospace & defense, business services, consumer services, financial and insurance services, healthcare services, industrial services, software and tech-enabled services, or specialty manufacturing sectors. For more information, visit www.gemspring.com.