Private equity-backed insurance company Confie Seguros has continued a streak of acquisitions by buying three more insurers: James S. Sullivan Agency, Advanced Auto Insurance and Family Insurance.
James S. Sullivan, headquartered in Newark, N.Y., and Rochester, N.Y.-based Advanced Auto provide personal lines insurance. Family Insurance, headquartered in Corpus Christi, Texas, also provides personal lines auto insurance.
The acquisitions are part of Buena Park, Calif.-based Confie Seguros’ plan to build out its geographic footprint in Texas and New York. With the new acquisitions, the company now has 47 locations in New York. In July, the insurer bought CW Baker Insurance Agency and Lewiston Insurance Agency, both based in New York. Earlier this year, Confie Seguros bought Texas State Low Cost Insurance Agency of Austin, another insurer based in Texas.
Confie Seguros, led by CEO Joseph Waked (pictured), has been backed by Boston PE firm Abry Partners since 2012. Abry is also invested in American Cyber Systems, Eduk Group and Psychological Services Inc.
For more on insurance M&A, see “Insurance Industry Experiences M&A Uptick.”
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