Beecher Carlson, SawyerFoster Group Join Forces

Atlanta-based Beecher Carlson and the SawyerFoster Insurance Group of Gulfport, Miss. have successfully joined forces. A statement from Beecher Carlson said SawyerFoster’s long-term presence in the Mississippi Gulf Coast and their commitment to delivering a high level of technical expertise aligns with Beecher Carlson’s industry and product resource model.

The financial terms of the transaction were not disclosed; however the consideration for the transaction consisted of a combination of cash and Beecher Carlson stock in exchange for the operating assets of the agency. The agency will conduct business as SawyerFoster Insurance Services and operate from its existing office in Gulfport.

“Our decision to partner with SawyerFoster is consistent with our vision to aggressively expand by partnering with firms who share our vision for a new service platform and align with our vertical business model,” Tom Golub, Beecher Carlson president and CEO said. “Through our partnership with SawyerFoster, we look forward to the continuance of excellent service which was started 53 years ago and supporting the Gulf Coast business community as it rebuilds.”

SawyerFoster is an independent agency focused on complex risks. It is recognized for expertise in specific industries which include hospitality, gaming, healthcare, marine and construction. The company is led by Tom Sawyer, president, and Calvin Foster, vice president, both of whom will retain management positions with the company. SawyerFoster employs 17 individuals, all of whom will remain with the company.

Source: Beecher Carlson

“We look forward to continued growth by leveraging the national resources, technical expertise and industry specialization of Beecher Carlson,” Sawyer said.

Steve Denton, executive managing director for Beecher Carlson in Atlanta and Scott Davis, managing director with Beecher Carlson in Nashville, will work closely with the team at SawyerFoster. Beecher Carlson’s corporate office will provide back-office integration of accounting, human resources and administration functions.

SawyerFoster was founded in 1953 under the name Sawyer Insurance. Sawyer’s specialty in the area of marine insurance provided many of the firm’s early relationships with shipbuilders, yacht clubs and construction companies. Sawyer began his insurance career as an insurance salesman with Sawyer Real Estate and Insurance.

Calvin Foster invested in the firm in 1989. He has more than 30 years experience in the design and implementation of innovative insurance solutions for companies with complex risks. Foster has worked with some of Mississippi’s largest public hospitals in designing and managing alternative programs for their medical malpractice exposure; and is experienced in marketing complex property exposures to the international underwriting community. He began his insurance career with the American States Insurance Co.

“Alignment with Beecher Carlson will allow us to deliver to our clients a greater array of solutions, like wrap-ups, captives and other alternative risk transfer solutions where Beecher Carlson has proven expertise and demonstrated success,” Foster said.

“In addition, our combined strength in the healthcare industry provides the community a trusted partner with the expansion that is likely to emanate from the growth of a redeveloped Gulf Coast,” Sawyer added.

“Joining forces with SawyerFoster is in direct alignment with our plan to partner with firms where there is synergistic vertical industry expertise,” Denton said. “Beecher Carlson’s deep expertise and notable client base in healthcare, gaming, hospitality, marine and construction provide the ideal platform for a successful partnership with SawyerFoster. From our first meeting with Tom Sawyer and Calvin Foster, our entire team felt very confident that we shared a common vision and there was complete alignment of value between our firms and our employees.”