Brown & Brown Supplier Companies (BBDS), a part of US insurance coverage dealer Brown & Brown, has accomplished the acquisition of ABS.
The businesses didn’t disclose the monetary phrases of the transaction.
ABS, which incorporates ABS Threat and ABS Operations, is a guaranty product administrator working within the vehicle aftermarket, with greater than twenty years of expertise within the {industry}.
It supplies component-specific warranties, nationwide street hazard programmes, and nationwide components and labour restore warranties.
As per the phrases of the settlement, Michael Cox, CEO of ABS, will proceed to supervise the staff from its current location in Denver, Colorado.
Cox will report back to BBDS president Mike Neal.
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BBDS is a finance and insurance coverage (F&I) firm targeted on growing bespoke options aimed toward automobile retailers.
Neal stated: “Michael and Craig [Sanford] have accomplished a tremendous job in rising ABS right into a premier supplier of aftermarket guarantee merchandise, serving buyer companions which can be industry-leading suppliers of tires and aftermarket auto components.
“The ABS staff and Brown & Brown Supplier Companies share a concentrate on customer support and the event of revolutionary product choices. The BBDS staff is worked up so as to add the talents of ABS to our capabilities as we proceed to offer guarantee options for our collective clients.”
Cox added: “We’re excited concerning the synergies this partnership will convey to our enterprise. Brown & Brown’s full suite of main insurance coverage programmes and automotive [finance and insurance] F&I merchandise will allow us to offer new value-added options to our aftermarket clients.”
In October this yr, Brown & Brown acquired belongings of Pacific Underwriters, which manages public utility insurance coverage danger swimming pools.
