Pennsylvania’s Keystone Agency Investors (KAI) has partnered with Kerrville, Texas-based Garrett Insurance Agency to facilitate KAI’s entry into that state.
Founded in 1918, Garrett Insurance Agency is an independent insurance agency offering a comprehensive suite of personal, commercial, group health insurance, financial services, and workers compensation. The company’s product suite includes coverage for farms and ranches, business owners, consultants, manufacturers, contractors, professionals, and many others. The team also features an in-house subsidiary – Frantzen, Kaderli & Klier – to specifically handle agricultural business placement and benefits.
Financial terms of the private transaction were not disclosed.
KAI is a strategic partnership between Keystone Insurers Group and Bain Capital Credit. Its partnership structure allows owners to monetize their most important asset while continuing to operate their agencies, leveraging growth through enhanced resources and support as they prepare for leadership succession.
Garrett Insurance Agency marks KAI’s eighth transaction since launching in July 2020.
Penwell Bowman + Curran LLC provided legal counsel to KAI on the transaction and Reagan Consulting, Inc. provided due diligence advisory.
Source: Keystone Agency Investors
Topics Mergers & Acquisitions Texas
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