Beecher Carlson has announced it has acquired Lane & Assoc. Inc. a commercial property and casualty insurance agency in Atlanta. According to Tom Golub, Beecher Carlson president and CEO, the acquisition complements Beecher Carlson’s Atlanta property and casualty capabilities of its production team and provides tremendous opportunities for augmented services to Lane’s clients by leveraging the national resources, analytical capabilities and technical expertise.
The specific financial terms of the transaction were not disclosed; however the consideration for the transaction consisted of a combination of cash and Beecher Carlson stock. Lane & Associates personnel will remain with the company and operate from Beecher Carlson’s corporate facility in Atlanta. Lane and Associates will operate under the Beecher Carlson brand.
Lane & Assoc. was founded by Robert O. Lane, its president and CEO, in 1979. The firm has maintained strong technical capabilities and a focus on property and casualty with superior client service.
“Joining forces with Beecher Carlson provides us the opportunity that we have sought to expand our business,” Lane said. “We are excited about bringing more people, products and services to our clients and look forward to building on our legacy of providing exceptional client service.”
“We are confident that Lane & Associates’ clients will find the expanded insurance and risk management resources they need at Beecher Carlson, while still maintaining the long-term personal relationships built by the Lane team,” Golub, explained. “The technical capabilities and teamwork mentality of Lane & Associates is an excellent fit with our capabilities and revolutionary approach. This acquisition is perfectly aligned with our plan of building our company with strategic partnerships, always placing the interests of our clients first.”
The acquisition of Lane & Associates is consistent with Beecher Carlson’s strategic growth plan to partner with firms interested in a new and expanded service platform. In May, Beecher Carlson acquired the oldest and largest independently-owned risk management agency in Oregon, JBL&K Risk Services, which expanded Beecher Carlson’s footprint to the Pacific Northwest and entry into employee benefits. Beecher Carlson also acquired Denver-based RiskCap, a leading risk consulting and captive management firm, in August 2004.
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