Welcome to the first edition the STG Insurance Agent and Broker Sales Alerts for the New Year! We are excited to see tremendous opportunities with independent insurance agencies for sale across several parts of the country. Middle market buyers continue to be enthused about buying opportunities because of four critical motivations:
- To gain critical mass
- Enter a new market area
- Back fill organic growth gaps
- Better utilize operating efficiency / specialty resources
In our view, the most effective tactic in acquisition target development is a multi-level and joint endeavor, using the national approach that STG provides in concert with the “boots on the ground” local market intelligence to which only the client has access. STG provides clients additional tools to access the 90% of the sellers that are not openly and publically communicating their intention to sell.
The listings below are a small sample of some of the new independent agencies discovered through our research or provided to us during the last 30 days. Upon request we will provide our clients access to previous month’s and off cycle listings.
SHOP C: Orange County, California — A 19 year old independent insurance book for sale. The book is a predominantly Mercury book of preferred Auto & Home. Asking Price $450K / Reported Revenue $300K. Seller willing to carry some paper.
SHOP F: Brooklyn, New York — This standard independent P&C agency established in 1963 is for sale. Reported Revenues $550K / Asking Price $1MM. Primary markets include Travelers, Progressive, Foremost, Eveready and more. Focused on sales in New York but also licensed in NJ, CT, RI and MA.
SHOP G: Miami, Florida — An eleven year general insurance agency is available for sale. Good mix of home owners/auto and commercial policies. Owner has elected to retire from the business and is moving out of the area. Asking Price $425K / Reported Revenue $212K.
SHOP J: La Porte, Indiana — A 25 year old independent Medical supplement agency for sale. The agency utilizes over 15 companies providing Medicare supplemental policies, prescription plans and health programs to clients. Asking Price $425K / Reported Revenue $217K. The seller is willing to carry some paper.
Through your association with Springtree Group, you have access agency lending tools, mergers & acquisitions, and financial services available to support your acquisition, perpetuation and operational needs in any part of North America. Please review the information on our website or call us at 972.395.8811 for additional information on services and opportunities.
