Confie Buys in ArizonaMonday, December 19, 2016
Huntington Beach-based insurance provider Confie acquired on undisclosed terms Oasis Insurance in Mesa, Ariz.
Oasis Insurance provides nonstandard insurance coverage to customers with specialized vehicles, those who have lapsed coverage or poor credit history, and those who’ve had multiple wrecks or insurance claims.
The acquisition more than doubles Confie’s business in Arizona and adds Oasis Insurance’s 21 offices and 120 employees in the state.
Confie, a national broker providing personal and commercial insurance at about 700 locations, has bought 17 brokerages this year. It is a portfolio company of Boston private-equity firm ABRY Partners, which invests in late-stage growth companies that have “subscription-like” revenue and are in industries with high barriers to entry.
The company generates about $500 million in annual revenue and employs 276 in OC and about 4,400 firmwide.