Confie Buys in NY, FloridaTuesday, November 5, 2013
Huntington Beach-based insurance broker Confie Seguros Insurance Services acquired DeFranco Insurance Agency Inc. in New York and Insurance Group of America Inc. in Florida.
Terms weren't disclosed.
Confie has been growing rapidly over the past year or so, primarily with acquisitions across the country. The latest deals bring the number of Confie’s acquisitions over the past 12 months to 23.
Niagara Falls-based DeFranco Insurance specializes in personal-lines insurance products.
Insurance Group, which operates as City Insurance, provides nonstandard auto insurance products and serves the Palm Springs and West Palm Beach areas.
Confie, backed by Boston-based private equity firm Abry Partners, is focused primarily on serving the Latino-American population. It was established in 2008 and has grown to nearly $300 million in revenue and more than 540 retail locations in the U.S.