Insurance Broker Repurchases Minority Interest
FORT WAYNE - Fort Wayne-based Ash Brokerage has changed directions in its ownership, once again becoming a fully-independent company. The insurance broker has repurchased the minority interest formerly owned by Boston-based Century Equity Partners.
Terms of the deal were not disclosed.
CEP acquired minority interest from Ash in September 2017. Just three years later, Ash Brokerage leadership felt the need to return to full independence as it positions itself for growth.
“The plan was always for Century to exit when the time was right,” said Ash Brokerage Chief Executive officer Tim Ash. “Our partnership with Century allowed us to reach new markets and cultivate deeper relationships. It was an exciting phase of growth, and we are thankful for their partnership.
During that time, Ash Brokerage acquired three firms, including the most recent purchase in September of Bell & Associates Consulting.
“We have no plans of slowing down,” said Jason Grover, president of Ash Brokerage. “As we approach 50 years of operations, we’ve made investments back into our business to uniquely position us for continued growth.”
In March 2018, Ash Brokerage acquired Zenith Marketing Group. In November 2018, it purchased Target Insurance Services.