Montalvo Insurance coverage Company sells insurance coverage enterprise to PCF Insurance coverage Providers

Montalvo Insurance coverage Company has offered its insurance coverage enterprise to cashed-up Utah-headquartered brokerage PCF Insurance coverage Providers for an undisclosed sum.

Earlier this yr, PCF efficiently raised $400 million in incremental debt financing in a spherical lead by Blue Owl. The elevating, which was elevated from an preliminary $300 million goal after excessive ranges of investor curiosity, signifies that the cashed-up insurance coverage firm has been in a position to proceed its robust shopping for spree.

Lifting the lid on the transaction, PCF Insurance coverage chief improvement officer Brooke Okay. DeWyze (pictured) confirmed that the acquisition was largely motivated by Montalvo’s robust public entity sector enterprise. “Having served its southern Texas neighborhood for greater than 65 years, the Montalvo Insurance coverage staff has deep-rooted relationships with their shoppers, particularly within the public entity sector, and that’s one of many facets we overview when seeking to deliver new groups on board. The acquisition would be the sixth location for PCF within the Lone Star state.

The seven-person company was based by Ramon Montalvo II, who handed the enterprise to his son who additionally sits as a board member at Freedom Financial institution.

PCF Insurance coverage’s acquisition technique focuses on partnering with companies that purpose to develop by leveraging in depth business expertise.

Though there was no dialogue of redundancies, PCF hopes that the Montalvo staff will acquire from the operational efficiencies and economies of scale out there via built-in help in areas together with advertising, enterprise intelligence, know-how, human assets, accounting, and authorized and compliance.

The acquisition comes on the heels of PCF Insurance coverage’s quadruple swoop in June for Pennsylvania-based Ignitist, North Carolina’s The Brady Company, Roseberry Insurance coverage Company in Mississippi, and The Sinnott Company from Iowa.

On the time, DeWyze identified: “At PCF Insurance coverage, we’re dedicated to accelerated and strategic enlargement via M&A – to not be confused with high-volume.

“Our strategy to M&A permits us to develop our operations in key markets – based mostly on our evaluation for development potential and alignment with our present footprint – whereas making certain that every new enterprise that we combine aligns with our long-term imaginative and prescient and enhances our capabilities and specialization in key business verticals.”

With 280 workplaces, PCF is without doubt one of the 20 greatest insurance coverage brokers within the nation, and claims over 420,000 shoppers.

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