PCF Insurance Services announced that it has acquired four new insurance businesses: Ignitist, The Brady Agency, Roseberry Insurance Agency, and The Sinnott Agency.¹ These acquisitions will further increase PCF’s presence as a national insurance brokerage firm by expanding its presence in Pennsylvania, North Carolina, Mississippi, and Iowa. According to a press release, PCF has operations in 40 states in the U.S.A.

In a press release, PCF’s chief development officer Brooke K. DeWyze said, “At PCF Insurance, we are committed to accelerated and strategic expansion through M&A—not to be confused with high-volume. Our approach to M&A enables us to grow our operations in key markets—based on our analysis for growth potential and alignment with our current footprint—while ensuring that each new business that we integrate aligns with our long-term vision and enhances our capabilities and specialization in key industry verticals. Our recent acquisitions are a testament to this strategy, providing us with significant opportunities to better serve our clients and expand our presence in strategically important markets.”

PCF states that it has an active M&A pipeline and is currently still looking to expand its operations by acquiring profitable businesses. In May, the company announced that it had acquired Encore Advisors in Georgia and All Star Insurance in Texas.²

In a press release issued at the time, DeWyze said, “We are excited to welcome Encore Advisors and All Star Insurance to the PCF family as we continue to expand our footprint and deepen our capabilities. These dynamic teams are an excellent fit for PCF because their specializations and niche markets align well with our growth strategy, with Encore expanding our capabilities for employee benefits solutions and All Star strengthening our collective bench strength in serving the transportation industry.”

The company also recently announced in early June that Brandon Gray had been named as chief financial officer.³ He had previously served as the company’s treasurer.

In a press release, PCF CEO Felix Morgan said, “Being in a position to tell our great story on a national stage, expand our company’s investment strategies, and leverage our strong position into greater financing opportunities requires strategic leadership and vision. Brandon’s strong, successful history in this space has been instrumental as our company raises capital to support of accelerated M&A strategy. Now, as our CFO, we’ll leverage his financial acumen to ensure we continue to deliver industry-leading revenue growth as we accelerate our overall growth strategy.”

In the same press release, Gray said, “I’m truly honored to serve our company as CFO during this exciting time for our company. PCF is focused on strategic growth through the expansion of our footprint in key geographical markets, while setting and achieving aggressive organic growth goals. I’m proud to serve and work alongside our incredible team as we make strategic advances that support our long-term vision of sustainable growth.”

Source

1. PCF Insurance Services Strengthens National Presence with Recent Acquisitions in Key Markets. PCF Insurance Services. June 24, 2024. https://www.prnewswire.com/news-releases/pcf-insurance-services-strengthens-national-presence-with-recent-acquisitions-in-key-markets-302180259.html
2. PCF Insurance Acquires Two Insurance Businesses, Expands Presence in Key Markets. PCF Insurance Services. May 1, 2024. Accessed June 24, 2024. https://www.prnewswire.com/news-releases/pcf-insurance-acquires-two-insurance-businesses-expands-presence-in-key-markets-302132979.html
3. PCF Insurance Services Names Brandon Gray Chief Financial Officer. PCF Insurance Services. June 4, 2024. Accessed June 24, 2024. https://www.prnewswire.com/news-releases/pcf-insurance-services-names-brandon-gray-chief-financial-officer-302163589.html