September, 2018. Peakstone served as the exclusive M&A advisor to Finance & Insurance Resources, Inc. (“F&I Resources”) in connection with its acquisition by Brown & Brown, Inc. (“Brown & Brown” NYSE:BRO).
F&I Resources is a leader in finance and insurance performance management for auto dealers in the Northeast and Mid-Atlantic states, providing F&I sales training and auto related service contracts to its dealer partners. The F&I Resources team, which is lead by Jason Bayko and Bob Hunter, will become part of the Brown & Brown auto, RV and powersports practice, which operates under the leadership of Mike Neal, President of Brown & Brown of Kentucky, Inc.
Peakstone is the market leading advisor to automotive finance and insurance agencies, third party administrators, F&I ancillary product suppliers, and related commercial insurance agencies. Including F&I Resources, Peakstone has advised on 10 automotive finance and insurance transactions and is actively representing other vehicle extended warranty companies in the marketplace.
Mike Neal of Brown & Brown stated, “Jason and Bob have grown F&I Resources to be a best-in-class operation delivering sales performance training and warranty insurance products for their dealer partners. The F&I Resources team will provide additional expertise to our growing platform in this space and establish a base for operations in the Northeast. We are confident that this will complement and enhance our existing operations.”
Jason Bayko of F&I Resources stated, “I could not be more excited to become a part of Brown & Brown and their sales culture. We are now well positioned to grow by having access to additional insurance products, giving us a unique value proposition for our dealer partners.”
Bob Hunter of F&I Resources added, “Brown & Brown’s culture, which is focused on clients and teammates, is a perfect match for us. Joining our company with Brown & Brown will provide us the opportunity to enhance our relationships with our valued customers through additional product offerings and training. I want to take this time to thank our dedicated, talented and long-term team members and our clients for their past and continued support.”
Terms of the transaction were not disclosed.
For additional information please contact the following:
Brad Curtis, Managing Director, 312-204-7300, email@example.com
Stephen Sleigh, Managing Partner, 312-346-7318, firstname.lastname@example.org
Peakstone is a leading investment bank that specializes in mergers and acquisitions advisory and capital raising for middle market clients. The team is comprised of senior investment banking professionals who have decades of experience and have executed hundreds of transactions totaling billions of dollars. For additional information, visit www.peakstone.com.
About Brown & Brown, Inc.
Brown & Brown, Inc., through its subsidiaries, offers a broad range of insurance products and related services. Additionally, certain Brown & Brown subsidiaries offer a variety of risk management, third-party administration, and other services. Serving business, public entity, individual, trade and professional association clients nationwide, Brown & Brown is ranked by Business Insurance magazine as the United States’ sixth largest independent insurance intermediary. Brown & Brown’s web address is www.bbinsurance.com.
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