Confie, a national provider of personal and commercial lines insurance, announced that it has acquired Fair Price Insurance Inc., a specialty auto insurance agency based in the Bronx, New York City. Terms of the transaction were not disclosed.
This is Confie’s second agency acquisition in New York City. Confie previously acquired R&R&R Brokerage Inc., a provider of auto insurance also based in the Bronx, in June 2015.
Confie said Fair Price Insurance’s location provides an opportunity for greater market penetration in the region. There are four employees that will continue with Fair Price Insurance as part of the transaction.
Confie also said it’s “very bullish” regarding its acquisition pipeline for 2016.
Established in 2008, Confie is a California-based national insurance distribution company primarily focused on personal lines and small commercial insurance. Confie has over 680 retail locations and generates annual revenues of approximately $500 million. Confie is a portfolio company of Boston-based private equity firm ABRY Partners.