CBIZ Acquires Property And Casualty Provider Sattler Insurance Agency
CLEVELAND, Sept. 3, 2014 /PRNewswire/ -- CBIZ, Inc. (NYSE: CBZ) today announced that it has acquired substantially all the assets of Rognstad's Inc. d.b.a. Sattler Insurance Agency ("Sattler"), based in Lewiston, ID, effective September 1, 2014.
Originally established in 1941, Sattler provides property and casualty, personal, and life insurance services, with a specialty in outdoor recreation insurance, to businesses across the U.S. Sattler has 11 employees and recorded approximately $1.6 million in revenue during the past twelve months.
Steve Gerard, Chairman and CEO of CBIZ stated, "We look forward to Jim and his team joining CBIZ. They have an outstanding reputation for their expertise in outdoor recreation insurance. CBIZ has worked with Sattler for the last several years and look forward to expanding this business."
Jim Sattler stated, "We view the merger with CBIZ as a perpetuation of our 73 years as an insurance agency. Our focus will remain on serving the insurance needs of our clients. We will now have access to additional tools and product offerings to expand our reach nationwide. We are excited to be part of a national leader in the insurance industry."
CBIZ, Inc. provides professional business services that help clients better manage their finances and employees. CBIZ provides its clients with financial services including accounting, tax, financial advisory, government health care consulting, risk advisory, real estate consulting, and valuation services. Employee services include employee benefits consulting, property and casualty insurance, retirement plan consulting, payroll, life insurance, HR consulting, and executive recruitment. As one of the largest accounting, insurance brokerage and valuation companies in the United States, the Company's services are provided through 100 Company offices in 34 states.
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, but are not limited to, the Company's ability to adequately manage and sustain its growth; the Company's dependence on the current trend of outsourcing business services; the Company's dependence on the services of its CEO and other key employees; competitive pricing pressures; general business and economic conditions; and changes in governmental regulation and tax laws affecting the Company's insurance business or its business services operations. A more detailed description of such risks and uncertainties may be found in the Company's filings with the Securities and Exchange Commission.
NYSE: CBZ - www.cbiz.com - Twitter @cbz
SOURCE CBIZ, Inc.
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