Confie Acquires California Insurance Specialists

Investment Serves as Growth Platform in California and Texas To Expand Standard Auto and Homeowners Personal Lines and Small Commercial Insurance

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Confie

Nov 16, 2015, 07:01 ET

HUNTINGTON BEACH, Calif., Nov. 16, 2015 /PRNewswire/ -- Confie, a national provider of personal lines insurance, announced today that it has acquired California Insurance Specialists (CIS), a leading provider of homeowners and auto insurance. With this acquisition, Confie has now successfully acquired and integrated over 100 businesses since its inception.

Based in Santa Ana, CA, CIS was founded in 1972 and is an independent personal lines insurance agency whose current primary focus is providing homeowners and auto policies. With three locations – Santa Ana and Bakersfield, CA and Dallas, TX (as Statewide Insurance Specialists) – CIS has over 40,000 policy holders with combined annual premiums of more than $31 million.

Wayne Pratt, who joined CIS in 1976, and Randy Parker, who joined in 1993, will continue as President and Senior Vice President of the company, respectively. All of the company's other 33 employees will remain with CIS.

Valeria Rico, Chief Executive Officer of Confie, said, "This purchase advances Confie's plan to expand into the standard and preferred personal and small commercial lines. CIS will serve as a strong platform to strengthen our existing operations in California and Texas. We are very excited about the opportunity to expand CIS through additional acquisitions and organic growth."

About Confie

Established in 2008, Confie is a leading, California-based national insurance distribution company primarily focused on personal lines and small commercial insurance. The experienced Confie management team continues to build Confie's portfolio of regional personal lines brokerages, and today has annual revenue of approximately $500 million and over 680 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. Confie is a portfolio company of ABRY Partners. For more information about Confie, please visit www.confie.com.