Lovell Minnick Partners-backed Warner Pacific has announced the acquisition of Beere&Purves, a general agency serving employee benefits brokers across California, for undisclosed terms. The deal is Warner Pacific’s first major general agency acquisition in California, its home state.
Beere&Purves was founded in 1929 and has operated as a general agency since 1994. The Walnut Creek, California-based firm provides brokers with employee benefits products, quoting and underwriting support, enrollment services, broker education, technology tools and ongoing sales and service support. It works with brokers across small group, large group and ancillary benefits.
Pete Cella, who has led Beere&Purves as president, will stay on in a leadership role as part of Warner Pacific. The combination is expected to broaden the carrier and product offerings available to Beere&Purves’ broker partners and give them access to Warner Pacific’s technology and service capabilities.
Warner Pacific is a national general agency that supports employee benefits brokers. It has more than $10 billion in in-force premiums, serves over 87,000 groups and has a team of about 800. Lovell Minnick, the company’s private equity backer, focuses on organic growth and strategic acquisitions. Marsh Berry served as financial adviser to Beere&Purves.
Source: PE Hub · Summarized by HeadlinesBriefing