Ascension Insurance Inc. has acquired transportation and trucking specialist Transure Services Inc., located in Whitsett, North Carolina.
Transure’s brokerage platform is augmented by an in-house wholesale operation, with proprietary transportation product offerings and underwriting authority.
This transaction strengthens Ascension’s existing trucking and transportation specialty practice. With this deal, the company said its consolidated revenue for the transportation market in North Carolina will triple.
This acquisition continues Ascension’s expansion in the Eastern region over the past five years, which has included First Charter Insurance Services, Commercial Insurance Group and Providence Insurance Agency.
Ascension is a privately held corporation based in Kansas City, Missouri. Together with its private equity partners, Parthenon Capital and Century Capital Management, Ascension Insurance Inc. expects to grow to $200 million in revenue by 2017.
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