New York-based Confie Seguros, a provider of auto insurance with an emphasis on serving Hispanic consumers, has acquired Puget Sound, Ore.-based Vern Fonk Insurance Services Inc. Vern Fonk serves Washington and Oregon.
The acquisition broadens Confie Seguros’ presence and is in line with its goal to become the leading national insurance distribution company primarily focused on the needs of Hispanic consumers. Confie Seguros is committed to expanding the Vern Fonk brand, which will include continuing the use of its name and purchasing other agencies in Washington and Oregon, the company said.
“This new partnership with Confie Seguros provides Vern Fonk Insurance the capital it needs to continue to expand the company by targeting strategic acquisitions and opening new locations in high growth areas in Washington and Oregon,” said Kevin Mulvaney, who will remain president and CEO of Vern Fonk.
Robert Thielke III will remain the head of marketing. Craig Rexroat will oversee south end operations.
Clear Lake Consulting served as an advisor on this transaction.
Topics Mergers & Acquisitions Washington
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