Higginbotham and Capps Insurance Agency have agreed to merge, statements from both companies revealed this week.
The transaction grants Forth Worth-based Higginbotham a new market through Mount Pleasant-based Capps, while Capps’ 33 employees will be able to have access to the resources of the much larger Higginbotham.
This merger increases the provider's workforce to 750 employees in 24 offices. Capps' has a strong focus in water and wastewater utility providers and transportation companies. Their clientele is mostly mid-market businesses in Texas, Arkansas, and Oklahoma. Higginbotham has a diversified mid-market practice across Texas, but still offers a variety of specialties.
"We are able to specialize in 20-plus industries because we have practice groups within out firm that focus their talents in one business segment," said Rusty Reid, Higginbotham President/CEO. "A key motivation to merging with Capps and other firms that have niche expertise is to enhance our ability to serve any business in any industry, anywhere in Texas."
This is only the latest in recent expansions for Higginbotham. Between 2008 and 2010 the firm merged with seven other insurance groups across the area.
That was attractive to Capps, leaders within the company said.
"Higginbotham's reputation as a large full service provider preceded itself. Then when we got to know their people and felt the same family atmosphere that we pride ourselves on, we knew it was a good fit all the way around. Our clients and also our employees will be well served by the extra support and capabilities that we will now be able to access," said Steve Capps, principal at Capps Insurance Agency.
Higginbotham was founded in 1948 and is based out of Fort Worth, Texas. The insurance broker ranks as the nation's 32nd largest independent brokerage firm based on revenue.
