US-based Heffernan Community Insurance coverage Brokers has introduced the acquisition of unbiased insurance coverage agency The Bon Company.
Heffernan Community didn’t disclose the monetary phrases of the transaction.
The acquired agency, which relies in Clearfield, Utah, focuses on industrial strains and private strains purchasers in a number of states within the Mountain West.
Beneath the phrases of the settlement, the agency will function independently as a subsidiary company of Heffernan Community.
Based in 1895, the agency has been household owned and has an workplace in Casper, Wyoming in addition to Clearfield, Utah.
The Bon Company president Kyle Corbridge and vice-president Matthew Tanner together with 12 of their workforce members have joined Heffernan Community.
Heffernan Community Insurance coverage Brokers president John Prichard Jr. mentioned: “The Bon Company is a particularly thrilling acquisition for Heffernan. As a generational family-owned company with such a powerful repute of their communities, we’re excited for them to steer our enlargement in Utah, Wyoming and surrounding states.
“Kyle brings a refreshing management type and has the vitality and drive to take his company to the following stage, and we’re dedicated to working intently with him and his workforce to perform it.”
Corbridge mentioned: “There’s a particularly robust emotional tie to a enterprise when it has been within the household for a number of generations. So choosing the proper long run partnership is greater than necessary, it’s vital. Turning into a part of Heffernan Community will present us with the mandatory instruments and help to maneuver our household enterprise into the following section, and do the appropriate approach.”
In December 2022, Heffernan Community, which is a subsidiary of Heffernan Insurance coverage Brokers, acquired SGB Insurance coverage Companies.