ABRY Partners Adds to Insurance Platform
Search
Share on twitter
Share on linkedin
Share on print
Share on email

ABRY Partners Adds to Insurance Platform

confie NFConfie Seguros, a portfolio company of ABRY Partners and a national insurance broker, has acquired three insurance brokerages with the purchases of James S. Sullivan Agency, Advanced Auto Insurance, and Family Insurance. The addition of these three agencies is part of Confie’s continued strategy to build out its geographic footprint throughout New York and Texas and solidify its position as a leading national insurance broker.

James S. Sullivan Agency was founded in 1977 and is an independently owned agency operating 16 retail locations in numerous towns across the Buffalo, Rochester and Syracuse Regions with 41 employees (www.jamessullivanagency.com).

Advanced Auto Insurance, established in 2001, is a full-service independent agency with locations in downtown Rochester, NY and Greece, NY (www.advancedinsuranceagency.net).

Family Insurance was established in 1990 and serves the Corpus Christi, TX area through two retail locations (www.familyautoinsurance.com).

“New York and Texas are key growth markets for Confie Seguros.  By adding James S. Sullivan Agency and Advanced Auto Insurance to our existing New York operations, we now have over 47 locations and 140 employees in New York to service customers and place business with our insurance carrier partners,” said Joe Waked, CEO of Confie Seguros. “Family Insurance builds on our acquisition in Texas earlier this year and we look forward to leveraging our robust pipeline of deals to continue our expansion in New York and Texas with the goal to be one of the largest providers of personal lines and small commercial insurance.”

Confie Seguros is a national insurance distribution company primarily focused on the insurance needs of Hispanic consumers. Confie Seguros has annual revenue approaching $300 million with over 540 retail locations. The company has leading market positions in California, Arizona, Texas, Florida, Washington, Oregon, New York, New Jersey,  Nevada, Illinois, Alabama, Kansas, Wisconsin, South Carolina, Missouri, Louisiana,  and Indiana and expects to continue its expansion in those and other states, including  Georgia, Virginia and North Carolina.  The company was founded in 2008 and is based in New York (www.confieseguros.com).

ABRY Partners invests in the media, communications and information sectors. ABRY is currently investing ABRY Partners VII (a $1.6 billion fully-capitalized traditional private equity fund), ABRY Senior Equity III (a $750 million fully-capitalized senior equity/mezzanine fund) and ABRY Advanced Securities Fund II (a $1.2 billion fully-capitalized senior debt fund). The firm is headquartered in Boston (www.abry.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 10-4-13

Share on twitter
Share on linkedin
Share on print
Share on email

To search in site, type your keyword and hit enter