Calder Capital has been retained to assist Collins & Associates, an established provider of Commercial Insurance, with an Alternative Market Division, Risk Management Services, Employee Benefits, Financial Services and Personal Insurance. Collins & Associates is seeking to acquire one or more Auto-Owners Agencies in Northern Michigan to supplant its Petoskey/Harbor Springs, MI, office, which opened in 2008 under the leadership of partner Amanda Truman, CIC.
Acquisition Criteria:
Target: Established Auto-Owners Agencies.
Geography: 50-mile radius from Harbor Springs / Petoskey, Michigan area.
Size/Employees: Ideally, the Acquirer is seeking agencies with $100,000 – $1,250,000 in agency revenue, however is open to discussions with larger agencies. The Acquirer is interested in retaining offices, staff (including family) and the owner, if desired. Collins recognizes the value in the community and network that has been created and has no desire to disrupt the goodwill that has been established.
Valuation/Deal Structure: For the right opportunity, the Acquirer is willing to pay a premium. The Acquirer is flexible in regards to deal structure; they are open to 100% buyouts or controlling-interest positions that allow the Seller to cash out over time, potentially at a higher price. Additionally, the Acquirer is flexible regarding “lifestyle” perks, for example automobiles, country club memberships, health insurance, etc.
Time Frame: Acquirer will give preference to companies that wish to complete a transaction quickly.
Deliverable: Acquirer will fund the cost of a preliminary business valuation for interested companies.
About Collins & Associates:
The Collins’ family entered the insurance business when Donald O. Collins purchased the Igelman Agency in Grand Rapids, Michigan in 1929. Don became ill and passed away in 1941; his wife, Nina, then took over the Agency’s management and operations. Although it was unusual in those days to find a woman as an insurance agency owner and manager, Nina became well known and respected in the area. Their son, R. Parke Collins, CPCU, CIC, LIC, entered the business in 1956 and began to take the Agency in the direction of commercial account sales. He founded Collins & Associates Corporation in 1972 and is Chairman of that corporation today.
The third generation, R. Parke Collins II, CIC, LIC, CRM, joined the Agency in 1989 upon graduation from the School of Business at Marquette University. He earned his Property Casualty Insurance license while a sophomore at college and now, as President of the agency, specializes as a commercial insurance account manager. Parke is a Certified Insurance Counselor and serves as Risk Manager for several Midwest corporations.
If you are interested, or know of a potentially interested party, please contact:
Rick Purcey
Direct: 269-430-3377
rick@caldergr.com
