San Diego’s John Burnham & Co. has bought Tustin-based The Bowman Co. Insurance Services.
“We are looking to grow into a major player in OC,” said Earl D. Butler, a managing senior vice president and head of Orange County operations for John Burnham.
The acquisition brought nine people into John Burnham’s Irvine office, giving it a total of 17 local employees. George Bowman, the acquired firm’s principal, is joining the company.
“It is a good match,” Butler said. “They were one of the companies that had the same values we have. Their middle-market client base matched with ours.”
Last year, Bowman had $1.5 million in revenue, while Burnham counted about $13 million.
Butler said Burnham is looking for more insurance brokerages to buy, adding the firm is in talks right now with a few OC firms.
“We want to be the dominant player in Orange County like we are in San Diego,” Butler said.
But Burnham has a long way to go. According to the Business Journal’s annual list of insurance brokerages with operations in OC, Burnham has to vault over 14 companies, including big names such as Marsh Risk & Insurance Services and Aon Risk Services, in order to be the leader locally. n
