M&A Deal Summary

MHBT Acquires Wells Fargo Insurance Brokerage Operations in Lubbock

On June 28, 2013, MHBT acquired insurance company Wells Fargo Insurance Brokerage Operations in Lubbock from Wells Fargo Insurance Services USA

Acquisition Highlights
  • This is MHBT’s 1st transaction in the Insurance sector.
  • This is MHBT’s 1st transaction in the United States.
  • This is MHBT’s 1st transaction in Texas.

M&A Deal Summary

Date 2013-06-28
Target Wells Fargo Insurance Brokerage Operations in Lubbock
Sector Insurance
Buyer(s) MHBT
Sellers(s) Wells Fargo Insurance Services USA
Deal Type Divestiture

Target

Wells Fargo Insurance Brokerage Operations in Lubbock

Lubbock, Texas, United States
Wells Fargo Insurance Brokerage Operations in Lubbock comprises the insurance brokerage business operations.

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Buyer(S) 1

Buyer

MHBT

Dallas, Texas, United States

Category Company
Sector Insurance
Employees350
Revenue 76M USD (2014)
DESCRIPTION

MHBT, Inc. is a provider of insurance, risk management, and employee benefits solutions to businesses and individuals throughout the US.


DEAL STATS #
Overall 1 of 1
Sector: Insurance M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Texas M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2013 M&A 1 of 1

Seller(S) 1

SELLER

Wells Fargo Insurance Services USA

Chicago, Illinois, United States

Category Company
Sector Insurance
DESCRIPTION

Wells Fargo Insurance Services USA (WFIS) is an insurance provider. The Business has a variety of product lines and services including Insurance Brokerage and Consulting, Employee Benefits and Property & Casualty, along with Safehold Special Risk, Small Business Insurance, Student Insurance, Individual Health and Private Risk Management Insurance.


DEAL STATS #
Overall 3 of 4
Sector: Insurance M&A 3 of 4
Type: Divestiture M&A Deals 3 of 4
State: Texas M&A 1 of 1
Country: United States M&A 3 of 4
Year: 2013 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-19 Wells Fargo Third Party Administrators

Charleston,, West Virginia, United States

Wells Fargo Third Party Administrators offers employee benefits and claims administration services for employers.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-03 Wells Fargo Insurance - 40 Local Office Locations

United States

Wells Fargo Insurance Services USA, Inc., 42 Local Office Locations comprises 42 office locations that offer insurance brokerage and administrative services.

Sell -