San Antonio-based Security Service Insurance, an independent agency currently licensed in eight states, has acquired Pace Insurance Managers LLC. (Pace) in Springhill, Louisiana.
With Security Service Insurance agents located in branches throughout these states, this acquisition will add additional expertise in Louisiana, the company said.
Pace provides full-service insurance coverage to the forest products industry in Northern Louisiana, according to the acquisition announcement.
A full-service subsidiary of Security Service Federal Credit Union, the Security Service insurance agency serves members and the general public in Texas, Colorado and Utah.
The credit union has more than $9.8 billion in assets and more than 803 thousand members.
Security Service utilized Capstone Strategic Inc., a mergers and acquisitions advisor for buyers of privately held businesses, throughout the acquisition process.
The transition of Pace to Security Service Insurance is underway and is expected to be a seamless process for their customers.
Source: Security Service Insurance
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