Holman Acquires Texas’ Park Wood Managers

Holman, a global automotive services organization, today announced the acquisition of Plano, Texas-based Park Wood Managers, a leading underwriter and insurance provider for commercial trucking fleets. The addition of Park Wood Managers and the company’s portfolio of business assets allows Holman to expand the scope of its commercial underwriting and alternative risk services to offer automotive liability insurance coverage for high-hazard medium-duty, heavy-duty, and extra heavy-duty commercial vehicles.

“The Park Wood Managers team has a profound understanding of this extremely complex niche of the market and brings to Holman a well-established underwriting operation with an impressive track record of success,” says Rob Bartholomew, General Manager of Insurance Services, Holman. “This acquisition is poised to be an integral element of our long-term strategy for sustained growth and allows us to leverage Holman’s extraordinary financial stability to provide comprehensive risk mitigation solutions for fleet operators in this segment of the industry.”

With the acquisition of Park Wood Managers, Holman is now the program manager of the Park Wood Risk Retention Group (RRG), which will be rebranded as Holman Transportation Risk Retention Group. Holman is now able to provide comprehensive automotive insurance coverage and commercial risk mitigation services for the entire range of commercial fleet vehicles, regardless of fleet size, industry, or asset type. Additionally, through this acquisition, Holman is now able to offer its customers the added protection of an A-minus rated cut-through endorsement backed by one of the industry’s leading carriers.

Topics Mergers & Acquisitions Texas