Confie has announced another acquisition. The California based consolidator has purchased California Insurance Specialists (CIS).
Confie, formed in 2008 and backed by ABRY Partners, has now acquired more than 100 insurance businesses and has and 680 retail locations annual revenues of more than $500 million.
Based in Santa Ana, CA, CIS was founded in 1972 and is an independent personal lines insurance agency whose primary focus is writing homeowners and auto policies. With three locations – Santa Ana and Bakersfield, CA and Dallas, TX (where it does business as Statewide Insurance Specialists) – CIS has more than 40,000 policy holders with combined annual premiums of more than $31 million.
Wayne Pratt, who joined CIS in 1976, and Randy Parker, who joined in 1993, will continue as president and senior vice president of the company, respectively. All of the company’s other 33 employees will remain with CIS.
Valeria Rico, Confie,CEO said, “This purchase advances Confie’s plan to expand into the standard and preferred personal and small commercial lines. CIS will serve as a strong platform to strengthen our existing operations in California and Texas. We are very excited about the opportunity to expand CIS through additional acquisitions and organic growth.”
