Fort Wayne-based Ash Brokerage Corp. has acquired another insurance firm in Kansas. Financial terms of the deal for Target Insurance Services Inc. are not being disclosed, however, the firm will transition to the Ash Brokerage brand.
Target’s 30 employees will join Ash Brokerage as a result of the deal. The firm says the acquisition is the result of a long-standing relationship between the two firms.
"Aside from being family businesses, our organizations have a common culture," said Matt McAvoy, president of Target Insurance Services. "We’re both mission-centered, trying to always do the right thing for the people we serve. By combining firms, a larger platform exists to jointly participate in the future of the insurance industry – ensuring consumers’ needs are met in a changing distribution environment. Our alignment with Ash Brokerage is an exciting time for me, our staff and customers."
The acquisition is Ash Brokerage’s second in 2018. In March, the firm announced its acquisition of New Jersey-based Zenith Marketing Group. Ash Brokerage says it continues to see opportunities for mergers and acquisitions with "successful, like-minded organization."
(Pictured left to right): Kevin Harty, national director of career sales, Ash Brokerage; Mike Pinkans, executive vice president and chief marketing officer, Zenith Marketing Group; Jason Grover, principal, Ash Brokerage; Jim Ash, founder, Ash Brokerage; Matt McAvoy, president, Target Insurance Services; Tim Ash, CEO, Ash Brokerage; and Scott Fergusson, chief innovation and revenue officer, Ash Brokerage.