M&A Deal Summary

Mercury Acquires Workmen s Auto Insurance Company

On October 23, 2014, Mercury acquired insurance company Workmen s Auto Insurance Company for 8M USD

Acquisition Highlights
  • This is Mercury’s 2nd transaction in the Insurance sector.
  • This is Mercury’s 2nd largest (disclosed) transaction.
  • This is Mercury’s 2nd transaction in the United States.
  • This is Mercury’s 2nd transaction in California.

M&A Deal Summary
Date 2014-10-23
Target Workmen s Auto Insurance Company
Sector Insurance
Buyer(s) Mercury
Deal Type Add-on Acquisition
Deal Value 8M USD

Target

Workmen s Auto Insurance Company

Los Angeles, California, United States
Workmen's specializes in underwriting auto insurance, and works predominantly in California.

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Buyer(S) 1

Buyer

Mercury

Los Angeles, California, United States
Category Company
Founded 1961
Sector Insurance
Employees4,300
Revenue 4.6B USD (2023)
DESCRIPTION
Mercury General's corporate headquarters in Los Angeles, California.
Mercury General's corporate headquarters in Los Angeles, California.

Mercury is primarily engaged in writing personal automobile insurance in a number of states, principally California. The Company also writes homeowners, commercial automobile and property, mechanical breakdown, fire, and umbrella insurance. Mercury was founded in 1961 and is based in Los Angeles, California.

DEAL STATS #
Overall 2 of 2
Sector (Insurance) 2 of 2
Type (Add-on Acquisition) 2 of 2
State (California) 2 of 2
Country (United States) 2 of 2
Year (2014) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-15 Auto Insurance Specialists

El Segundo, California, United States

Auto Insurance Specialists, Inc. is a major producer of automobile insurance in the state of California and the Mercury General's major independent broker producing over $400 million of direct premiums written.

Buy $120M
Mergr

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