Eugene-Oregon-based Cramer & Giles Insurance Inc. has been acquired by Beecher Carlson, an insurance brokerage and risk management consulting firm headquartered in Atlanta. Cramer & Giles has been merged with Beecher Carlson’s Portland operation, JBL&K Risk Services.
Founded in 1983, Cramer & Giles is an independent agency focused on providing middle-market commercial property and casualty insurance brokerage services from its locations in Eugene and Medford, Oregon. The agency has a proven and solid reputation in lines of specialization that include contractors and public entities. Cramer & Giles prides itself on its long-term client and underwriter relationships, which have led to consistent growth and increased recognition in the Pacific Northwest region.
The transaction accelerates Beecher Carlson’s growth plan to expand its presence significantly in the Pacific Northwest region. The acquisition complements the property and casualty capabilities of Beecher Carlson and provides tremendous opportunities for augmented services to Cramer & Giles’ clients by leveraging the national resources, analytical capabilities and technical expertise of Beecher Carlson.
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. Beecher Carlson operates as JBL&K Risk Services in the Pacific Northwest, following its merger with the Company in May 2005. The agency will continue to conduct business as Cramer & Giles.
Cramer & Giles is an independent agency focused on providing commercial property and casualty insurance brokerage services. The company is led by Ron Cramer, CEO and Mike Godfrey, president, both of whom will retain production and management positions in the Eugene office.
Cramer & Giles employs 24 individuals in its two offices. The Eugene office will remain in operation and the Medford office will be combined with JBL&K’s existing Medford facility. Dan Romain, president of JBL&K, will assume responsibilities for integration and ongoing operations of Cramer & Giles.
Ron Cramer co-founded Cramer & Giles Insurance Inc. in 1983. He is considered an innovator in the public entity insurance arena where he has extensive experience in the design, analysis and monitoring of self-insurance programs. Cramer has been involved in self-insured entities for over 30 years in Oregon and 15 years for national accounts. He began his insurance career with Safeco Insurance Co.
Mike Godfrey joined Cramer & Giles in 1992 and has become one of the firm’s most active agents with a specialization in business risk management and casualty. Under Godfrey’s leadership, Cramer & Giles has grown 300% over the past 5 years, making it one of the most dynamic firms in the Northwest. Godfrey serves on several agency councils. He is a graduate of Montana State University with a degree in Business Management.
“Over the past 23 years, Cramer & Giles has experienced progressive growth and we look forward to continued growth in the future by leveraging the national resources, technical expertise and industry specialization of JBL&K and Beecher Carlson,” said Cramer. “Alignment with Beecher Carlson is a strategic fit for our clients, employees and shareholders who will all benefit from the merger,” added Godfrey. “The combination of the two companies will provide depth and expertise in key areas primed for growth,” he said.
“Joining forces with Cramer & Giles continues the expansion of our company in the Pacific Northwest region,” said Romain. “The synergy between our two firms to provide expertise in building innovative insurance programs for public entities and deepening Cramer and Giles’ client relationships with employee benefits and surety products is unmatched in the region.”
“Our decision to partner with Cramer & Giles is consistent with our vision to aggressively expand our presence in the Pacific Northwest region”, said Tom Golub, president and chief executive officer at Beecher Carlson. “We will continue to provide the strongest team of industry professionals and deliver superior products and services to our customers,” he added.
Source: Beecher & Carlson
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