PCF Insurance Services has acquired John E. Peakes Insurance Agency in Ventura, CA. The terms of the deal were not disclosed.
John E. Peakes Insurance Agency is a family-owned, full-service personal lines agency. According to PCF, the partnership it has formed with John E. Peakes allows it to expand its portfolio into niche markets in the high-growth small business industries, such as gym and fitness, restaurants, and apartment buildings.
"We're delighted to welcome the John E. Peakes Insurance Agency, Inc. to PCF," said PCF Insurance founder, chairman, and CEO Peter C. Foy. "They have a proven track record serving clients for over 50 years in high-growth niche markets and will provide PCF with additional scale in Southern California.”
Foy also mentioned that John E. Peakes Insurance Agency president Chad Peakes is “an outstanding young leader keenly focused on agency growth."
"PCF Insurance has allowed us to focus on our family of customers while looking toward future growth," commented Chad Peakes. "PCF shares our core values, and the collaboration has been exhilarating."
PCF said that its agency-centric operating model and entrepreneurial environment offer its agency partners alignment through equity ownership, significant leadership incentives, as well as access to resources throughout the US.
As of August 18, 2022, PCF said that it has completed or has under a letter of intent 104 acquisitions.
John E. Peakes Insurance Agency is the latest in PCF’s recent series of acquisitions. Just earlier this month, the broker acquired Professional Warranty Service Corporation, a specialty insurance and home warranty-focused managing general agent. And last month, PCF acquired full-service insurance agency Andreini & Company.