Insurance broker INSURICA, headquartered in Oklahoma City, has acquired employee benefits provider Employer Solutions Group (ESG), based in Austin, Texas.
ESG operates throughout Texas under the leadership of Michael Bakonyi and Thomas Seuthe. The entire ESG team will be joining Austin Branch Manager Devin Stewart at INSURICA’s Austin office complex.
The merger was handled internally with a team led by John Hester, senior vice president of Mergers and Partnerships. Financial due diligence was performed by INSURICA CFO Ed Young and Enterprise Controller Amy Herboek. The effective date for the deal is June 1, 2018.
With annual revenues topping $100 million, INSURICA employs over 530 employees in 30 offices located throughout Oklahoma, Texas, Arkansas, Colorado, Arizona, and California.
Source: INSURICA
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