First MainStreet Insurance L.C. (FMSI), an affiliate of TrueNorth Companies L.C., has acquired two Iowa agencies: Brummel Madsen Insurance in Cedar Falls and The Engel Agency in Maquoketa.
Brummel Madsen Insurance has been serving the Cedar Valley area since 1960. Brian Brummel, who joined his father’s agency in 1991, will remain a partner in this newest First MainStreet office. Former owners, Scott Cessna and Steve Schomaker, will also continue working with the FMSI team.
Bruce Engel, the second generation owner of The Engel Agency, plans to transition from the business. Agency Manager Jennifer Machande, who has been with Engel for over 15 years, will be named partner.
With the addition of these new agencies, FMSI collectively welcomes over 15 new colleagues and two new partners to the team.
Led by many TrueNorth senior leaders, the FMSI model focuses on smaller agencies to perpetuate their business while maintaining a local presence and legacy within their communities. In addition to these new acquisitions, FMSI currently holds locations in the following towns: Bettendorf, Bloomfield, Burlington, Centerville, Charles City, Clinton, Davenport, Fairfield, Indianola, Iowa Falls, Mason City, Moville, Mt. Pleasant, Ottumwa, Pella, and Perry, Iowa, and Brentwood, Tennessee.
Source: FMSI
Topics Mergers & Acquisitions Agencies
Was this article valuable?
Here are more articles you may enjoy.
Longtime Motel 6 Spokesman Tom Bodett Settles Lawsuit Against Chain 
Freight Broker Says $400K in Lobster Meat Stolen in Fictitious Pickup 
High-Net-Worth Risk Appetite Drops as Some Regions Show Stabilization 
Relief But Questions on Agents’ Duties to Insureds After Florida Court Ruling 
