PE-backed Confie Seguros buys three insurance brokerages

Confie Seguros, a portfolio company of ABRY Partners, has agreed to acquire three insurance brokerage firms: New York City-based R&R&R Brokerage Inc; Rochester, New York-based Eastern General Insurance Services Inc; and San Antonio, Texas-based Colyer Insurance Agency Inc. No financial terms were disclosed.

PRESS RELEASE

HUNTINGTON BEACH, CA, June 2, 2015 – Confie, a national provider of personal lines insurance, announced today that it has acquired three insurance brokerages, one in Texas that expands the company’s footprint in San Antonio and two in New York, including its first Downstate location in The Bronx.

Confie acquired R&R&R Brokerage, Inc. in The Bronx, a provider of auto insurance founded in 1979. Confie expanded in Rochester, NY with the acquisition of Eastern General Insurance Services, Inc. which has five locations in Rochester and Buffalo. Eastern General is a family owned business that has been owner operated since the early 1980s offering auto insurance. In addition, Confie acquired Colyer Insurance Agency, Inc. of San Antonio, TX, an agency which has been part of that community for over 35 years providing personal lines.

Valeria Rico, Chief Executive Officer of Confie, said, “We are very pleased to acquire our first agency in the New York metropolitan area where we will continue expansion. Our industry remains very fragmented and as a consolidator of choice, we can be selective in the companies we acquire. Our disciplined and proven approach to finding, evaluating, and integrating targets will help drive meaningful growth and profitability as we scale our business.”

Confie has acquired and successfully integrated over 80 businesses since its inception.

About Confie
Established in 2008, Confie is a leading, California-based national insurance distribution company primarily focused on personal lines and small commercial insurance. The experienced Confie management team continues to build Confie’s portfolio of regional personal lines brokerages, and today has annual revenue of over $350 million and over 660 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 is a portfolio company of ABRY Partners. For more information about Confie, please visit www.confie.com.