M&A Deal Summary

Brown & Brown Acquires ICA

On January 2, 2014, Brown & Brown acquired insurance company ICA from Dogwood Equity

Acquisition Highlights
  • This is Brown & Brown’s 24th transaction in the Insurance sector.
  • This is Brown & Brown’s 25th transaction in the United States.
  • This is Brown & Brown’s 1st transaction in North Carolina.

M&A Deal Summary
Date 2014-01-02
Target ICA
Sector Insurance
Buyer(s) Brown & Brown
Sellers(s) Dogwood Equity
Deal Type Add-on Acquisition

Target

ICA

Charlotte, North Carolina, United States
ICA is a provider of outsourced catastrophe claims adjustment services.

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Buyer(S) 1

Buyer

Brown & Brown

Daytona Beach, Florida, United States
Category Company
Founded 1939
Sector Insurance
Employees16,152
Revenue 4.2B USD (2023)
DESCRIPTION
Brown & Brown's headquarters in Daytona Beach, Florida.
Brown & Brown's headquarters in Daytona Beach, Florida.

Brown & Brown is a provider of insurance and reinsurance products and services to general business, corporate, governmental and quasi-governmental, institutional, professional, trade association and individual clients. Brown & Brown was founded in 1939 and is based in Daytona Beach, Florida.

DEAL STATS #
Overall 25 of 109
Sector (Insurance) 24 of 97
Type (Add-on Acquisition) 23 of 105
State (North Carolina) 1 of 2
Country (United States) 25 of 103
Year (2014) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-11 Agency Services Consolidated

Cincinnati, Ohio, United States

Agency Services Consolidated, Inc. is a Cincinnati based agency specializing in products, services, and income development for the finance and insurance industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-15 The Wright Insurance Group

Uniondale, New York, United States

The Wright Insurance Group LLC is a provider of underwriting, claims, risk management and litigation management services to the education and public entity sectors for more than 20 years. Company have been serving the insurance needs of the food industry since 1995.

Buy $602M

Seller(S) 1

SELLER

Dogwood Equity

Raleigh, North Carolina, United States
Category Private Equity Firm
Founded 2002
PE ASSETS 74M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Dogwood Equity is a private equity fund focused on control buyouts and select non-control investments in private companies located in the Southeast US. The firm will consider investments in a broad range of industries, including manufacturing, distribution, service, and consumer products. Prospective companies generally have revenue of $10 to $75 million and EBITDA of $3 to $10 million. Dogwood's target investment size is $4 to $10 million. Dogwood Equity was formed in 2002 and is based in Raleigh, North Carolina, with an additional office in Charlotte.

DEAL STATS #
Overall 7 of 8
Sector (Insurance) 1 of 1
Type (Add-on Acquisition) 2 of 3
State (North Carolina) 4 of 5
Country (United States) 7 of 8
Year (2014) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-01 Biolex Therapeutics

Pittsboro, North Carolina, United States

Biolex Therapeutics is a biotechnology company with a novel platform for the development and manufacture of monoclonal antibodies and other protein therapeutics. The Company's lead product is Locteron, a controlled release interferon for hepatitis C.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-23 Wizard s Cauldron

Yanceyville, North Carolina, United States

Sky Valley Foods is a developer and co-packer of natural and organic salad dressings, marinades, sauces, and condiments. Sky Valley Foods was founded in 1986 and is based in Yanceyville, North Carolina.

Sell -
Mergr

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