May 12, 2022, 09:30 ET
VIRGINIA BEACH, Va., May 12, 2022 /PRNewswire/ -- Choice Financial Group (Choice) announced today that it has acquired Pennsylvania-based Fonner Insurance Associates (Fonner).
Fonner, located in Abington, PA, is a full-service property and casualty agency that serves individuals and businesses in the greater Philadelphia area. For 30 years, the Fonner family has been dedicated to providing their clients with insurance solutions. William (Bill) Fonner and Eric Fonner will continue managing the business as part of Choice. "We are thrilled that Bill and Eric will continue to lead their team in our first Pennsylvania office," said Richard Braun, President of Choice Financial Group.
"After reviewing our options in the marketplace, partnering with Choice was an easy decision given the resources made available to us and the growth potential of joining a rapidly expanding insurance platform. We are excited about our future together," said Bill Fonner. Eric Fonner echoed that sentiment, saying "The opportunity for us to accelerate the growth of our agency with minimal disruption was very attractive to us."
Fonner represents the sixth acquisition for Choice since partnering with Northlane Capital Partners in October 2021.
About Choice Financial Group: Choice Financial Group is a leading insurance agency with institutional capital support from Northlane Capital Partners, a middle-market private equity firm managing more than $1 billion of committed equity capital. Choice is expanding its market presence through targeted acquisitions. Choice is headquartered in Virginia Beach, Virginia, and has 18 offices in eight states.
For agency partnership opportunities, contact:
Bob Hilb, Head of M&A
Richard Braun, President
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SOURCE Choice Financial Group
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