Welcome to the October 2015 edition of Springtree Group’s Insurance Agent Sales Alerts. Our sources for potential opportunities for you come through our in-house research group, custom-built outbound telemarketing programs, and direct contact by sellers. This pipeline is supplemented by our large network of sell-side business brokers, industry consultants, attorneys, and lending underwriters, as well as broken financing deals. STG provides you with the broadest insight available into new buying opportunities in the insurance space.
The M&A market for insurance agencies continues to push upward with the strengthening of multiples and strong activity. The seller’s market for independent agencies is still prevalent and we have also noted a firming trend of the market for captive shops in the last six months. PE continues to be the driver, with nearly 80 percent of the larger reported transactions coming from PE backed firms.
The listings below are a sample of some of the new sellers discovered through our research or provided to us during the last 30 days. Upon request, we provide Registered Buyers access to previous month’s and off cycle listings.
SHOP B: Arlington, Texas – Price Drop – A well-established five year old independent P&C agency is now for sale. Situated in a very visible location with high traffic, a growing community with consistent current clients and still growing. Has excellent growth potential with established clientele and cross-selling of commercial, life, and health insurance. Seller will carry some paper. Asking Price $135K / Reported Revenue $85K.
SHOP E: Central Louisiana – A very strong and highly regarded standard personal and commercial lines independent P&C agency is up now for sale. This agency has roots in the community for over 60 years. Their direct market appointments include: Progressive, Safeway, Foremost, Republic, Travelers and many more. This deal is priced right and won’t last long. Asking Price $750K / Reported Revenue $600K.
SHOP A: Phoenix Metro, Arizona – This agency will sell quickly. An eleven year old independent preferred personal lines P&C insurance agency is now for sale. Direct appointments with quality carriers including: Mercury, MetLife, Safeco, Travelers, Progressive, Pacific and other. The overhead is very low and with these outstanding markets, would make an ideal acquisition. Asking Price $600K / Reported Revenue $270K.
SHOP C: Plano, Texas – Quality Allstate Agency located in Plano, Texas. $220K in premium, 292 Policies in force, 1 Fulltime employee, Store front location in PLANO! Buyer is eligible for scratch bonus structure. Walk into a growing 3 year young Allstate agency and start earning new business commissions up to 43%, plus bonuses as a new start-up agency. Asking $50K / $22K YTD.
Additional opportunities currently exist in New Jersey, South Dakota, Florida, and throughout Texas. As a client of the Springtree Group, you have access to the strongest array of agency lending tools, financial services and M&A expertise available to support your acquisition, perpetuation and operational needs in any part of North America. Please call (972) 395-8811 or contact us online for additional information on services and opportunities.