4 CAA Agencies Expand Through M&As
Austin, Texas-based Combined Agents of America LLC (CAA) announced that member agencies have expanded their books of business and locations through mergers and acquisitions (M&A) over the last nine months.
Together, four CAA members have grown their agencies by an estimated $38 million in premium.
Mergers and acquisitions completed by four CAA member agencies during the last 9 months:
- Jan. 1, 2015: Garrett Insurance purchased Frantzen, Kaderli & Klier Insurance Agency Inc. based in Fredericksburg, Texas, with an estimated annual property and casualty volume of $6.5 million in premium. The purchase also includes a sizeable benefits book. Garrett Insurance also purchased Texas Hills Insurance Agency the previous year in April 2013. Garrett Insurance is based in Kerrville, Texas.
- June 2, 2014: BRIA Insurance and Risk Consultants purchased a personal lines book of businesses with an estimated annual premium of $1.2 million premium from New Mark Insurance, another Austin-based agency. BRIA is based in Austin, Texas.
- May 1, 2014: DFB Insurance Group purchased the assets of PIA Insurance Agency based in Amarillo, Texas, including two different entities over a four-month period. The purchase included its property/casualty business, and its life and health business, as well as bringing in Grant Smith and Al Cunningham as partners during these transactions. All together these acquisitions added an estimated total of $20 million in premium to its book of business. DFB sold its Austin operations in order to concentrate its growth in West Texas and the DFW area on July 2014. The DFB Insurance Group total agency revenue is approximately $10 million as of December 2014. With offices in Pampa, Amarillo, Borger and Dallas-Fort Worth, DFB Insurance Group is one of the largest agencies in Texas. DFB Insurance Group is headquartered in Pampa, Texas.
- May 1, 2014: Keller Leopold Insurance LLC merged with Bridges Insurance, a former CAA member agency, adding an estimated $10 million in premium and together creating an estimated combined premium of $50 million. The Bridges owners became new partner and owners in Keller Leopold Insurance and it increased Keller Leopold’s number of offices to seven locations, all in Western Kansas. Keller Leopold is based in Garden City, Kansas.
- Source: CAA
- CAA Agencies Expand Through Mergers & Acquisitions
- Combined Agents of America LLC (CAA) announced that member agencies have expanded their book of business and locations through a substantial number of mergers and acquisitions (M&A) over the last nine months. Together, four CAA members have grown their agencies by an estimated $38 million in premium.
- Mergers and acquisitions completed by four CAA member agencies during the last 9 months:
- Jan. 1, 2015: Garrett Insurance purchased Frantzen, Kaderli & Klier Insurance Agency Inc. based in Fredericksburg, Texas, with an estimated annual property and casualty volume of $6.5 million in premium. The purchase also includes a sizeable benefits book. Garrett Insurance also purchased Texas Hills Insurance Agency the previous year in April 2013. Garrett Insurance is based in Kerrville, Texas.
- June 2, 2014: BRIA Insurance and Risk Consultants purchased a personal lines book of businesses with an estimated annual premium of $1.2 million premium from New Mark Insurance, another Austin-based agency. BRIA is based in Austin, Texas.
- May 1, 2014: DFB Insurance Group purchased the assets of PIA Insurance Agency based in Amarillo, Texas, including two different entities over a four-month period. The purchase included its property/casualty business, and its life and health business, as well as bringing in Grant Smith and Al Cunningham as partners during these transactions. All together these acquisitions added an estimated total of $20 million in premium to its book of business. DFB sold its Austin operations in order to concentrate its growth in West Texas and the DFW area on July 2014. The DFB Insurance Group total agency revenue is approximately $10 million as of December 2014. With offices in Pampa, Amarillo, Borger and Dallas-Fort Worth, DFB Insurance Group is one of the largest agencies in Texas. DFB Insurance Group is headquartered in Pampa, Texas.
- May 1, 2014: Keller Leopold Insurance LLC merged with Bridges Insurance, a former CAA member agency, adding an estimated $10 million in premium and together creating an estimated combined premium of $50 million. The Bridges owners became new partner and owners in Keller Leopold Insurance and it increased Keller Leopold’s number of offices to seven locations, all in Western Kansas. Keller Leopold is based in Garden City, Kansas.
Source: CAA
