M&A Deal Summary

Towne Insurance Agency Acquires Southern Insurance Agency

On May 5, 2014, Towne Insurance Agency acquired insurance company Southern Insurance Agency

Acquisition Highlights
  • This is Towne Insurance Agency’s 1st transaction in the Insurance sector.
  • This is Towne Insurance Agency’s 1st transaction in the United States.
  • This is Towne Insurance Agency’s 1st transaction in North Carolina.

M&A Deal Summary
Date 2014-05-05
Target Southern Insurance Agency
Sector Insurance
Buyer(s) Towne Insurance Agency
Deal Type Add-on Acquisition

Target

Southern Insurance Agency

Kitty Hawk, North Carolina, United States
Southern Insurance Agency, Inc. is a full service independent insurance agency. Southern Insurance Agency, Inc. was founded in 1890 and is based in Kitty Hawk, North Carolina.

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Buyer(S) 1

Buyer

Towne Insurance Agency

Virginia Beach, Virginia, United States
Category Company
Founded 2001
Sector Insurance
DESCRIPTION

Towne Insurance Agency, Inc. is an independent insurance agency providing comprehensive solutions and risk management programs to businesses of all sizes, including property and casualty insurance, workers’ compensation, bonding, employee benefits and more. Towne Insurance was established in 2001 and is based in Virginia Beach, Virginia.

DEAL STATS #
Overall 1 of 7
Sector (Insurance) 1 of 7
Type (Add-on Acquisition) 1 of 7
State (North Carolina) 1 of 2
Country (United States) 1 of 7
Year (2014) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-05 Lackey Saunders

Hampton, Virginia, United States

Lackey Saunders Co., Inc. is a provider of full range of insurance services. Lackey Saunders Co., Inc. was established in 1886 and is based in Hampton, Virginia.

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