Peter C. Foy & Associates Insurance Services Acquires First Insurance Group
Sica | Fletcher guides First Insurance Group in its sale to Peter C. Foy & Associates Insurance Services.
With roots dating back to 1882, First Insurance Group (FIG) is a collection of retail insurance agencies headquartered in Bardstown, Kentucky.
FIG serves approximately 5,800 clients, including a large block of construction and manufacturing business which are two sectors of strategic interest to Peter C. Foy & Associates Insurance Service (PCF).
First Insurance Group agreed to be acquired by Peter C. Foy & Associates Insurance Service. Headquartered in Woodland Hills, CA, PCF is a rapidly growing full-service insurance brokerage agency that has partnered with BHMS Investments, LP (BHMS) to accelerate PCF's growth through a series of retail agency acquisitions.
Through the partnership with FIG, PCF substantially expands its presence in the Midwest marketplace. The partnership creates long-term synergies due to their shared culture and the seamless product fit.
The acquisition continues the rapid growth trajectory that PCF has experienced since it partnered with BHMS Investments, LP in February 2017.
First Insurance Group engaged Sica | Fletcher to serve as its exclusive strategic and financial advisor.
Sica | Fletcher explored several strategic options for FIG, ultimately culminating in a partnership with PCF.
This transaction further highlights Sica | Fletcher's strong relationships with private equity firms and the brokerages they support. Sica | Fletcher previously represented PCF in its partnership with BHMS.