SHOP B: Georgia:
This is solely a book buy. The owner is selling this particular book in order to concentrate on their core business. This book is 35% commercial and 65% personal lines. Current carriers include Progressive, Travelers, Southern General, RTS and J&J. This is indeed a great carve out book that will fold nicely into an existing agency.
Reported Revenue: $125K. Asking Price: 2X of revenue. Tracking Code: SGADB.
SHOP H: Florida:
Here we have a general agency with multiple locations in Western Florida. This agency has been writing insurance since 1983 including medical and P&C products. The bulk of the business is in Medicare supplement and advantage business. There are currently 19 sales agents. The agency holds carrier appointments with Blue Cross/Blue Shield, Heritage, Progressive, and more.
EBITDA: $922K. Reported Revenue: $2.35MM. Asking Price: 2X of Revenue. Tracking Code: DFLBW
SHOP I: Michigan:
Specializing in adult foster care, assisted living, and home health coverage, this agency has been doing business since 1968. With three full time employees and one part-time bookkeeper, this Michigan agency’s carriers include Progressive, Fremont Mutual, Lloyds, Dairyland and many more.
Reported Revenue: $280k. Asking Price: 2.5X. Tracking Code: DMIDH
Our March Sales Alert publication of independent insurance agencies for sale is full of exciting opportunities for our registered buyers. As we predicted at the end of 2019 and again at the start of the new year, M&A activity in this section of the insurance industry continues to remain above average. The seller’s market is particularly robust, with some independent sellers able to obtain sales prices of nearly 3X their revenue! Admittedly, sale prices that high are difficult to finance, but working with Springtree makes it possible to obtain even the most challenging of financing. Below, we share a selection of our listings that do not hit that pricing tier.
Potential buyers who are looking for the right agency to invest in must know where to look in order to find agencies for sale, because as many as 90% of agency sellers prefer not to advertise that their agency is on the market. The necessary private nature of independent insurance agency sales means that deal origination requires a combination of local market knowledge and the tools and extensive professional network available to buyers who work with a business broker like STG.
The agencies we’ve elected to highlight this month have become known to us via our research group and strategic partners as well as financing deals that have fallen through. Additionally, some sellers have reached out to us directly in the past month to let us know that they are ready to sell.
In addition to our impressive insurance agency sales experts, we also provide buyers with access to our robust financial practice. Believe it or not, even with giving clients access to our financial tools, mergers and acquisition services, and an extensive network of lenders who specialize in lending to insurance agency buyers, working with Springtree Group does not increase your cost of buying an agency in any way. If anything, working with our expert brokerage team will lighten your load throughout the intense process of buying an insurance agency. You’ll also have a much higher chance of getting the financing you need when you work with STG because our lenders understand the insurance industry. We always remind our clients that finance deals often fall through when you work with lenders who aren’t familiar with this business.
Interested in learning about the other agencies on our impressive list for March? Simply reach out to us via email at firstname.lastname@example.org to become an official STG Registered Buyer. It costs you nothing, yet the potential gains are priceless. We can’t wait to support you in your endeavors!