PCF Insurance Services has snapped up the operations of DLD Insurance Brokers in California, making the latter its ninth acquisition this year.
Operating since 1989 in Irvine, DLD has established itself as a key player in risk management for companies in sectors such as construction, real estate, manufacturing, medical devices, and technology.
The transaction, the financial terms of which were not disclosed, will enable DLD’s team to broaden its risk management and insurance offerings, leveraging PCF Insurance’s expansive market access, in-house risk management services, claims advocacy, and exclusive programs. The collaboration is expected to enhance the value provided to DLD’s existing clients and open up new opportunities for growth.
Felix Morgan (pictured), chief executive of PCF Insurance, noted: “DLD represents the ideal acquisition that aligns with our M&A (mergers and acquisitions) strategy. Their team has served as trusted advisors for decades by bringing robust experience and knowledge in helping mitigate increasingly complex risks, specifically for the construction and real estate sectors.
“Their specialization in these industries adds to our own bench strength and aligns with our core business.”
PCF Insurance has set an ambitious goal to add $50 million in EBITDA (earnings before interest, taxes, depreciation, and amortization) through M&A by the end of the year and aims to double its size within the next five years.
The company’s acquisition strategy focuses on bolstering its core offerings in property & casualty and health & benefits in key markets, while also enhancing its in-house expertise in risk management and loss control for expanding industries.
Headquartered in Utah, PCF Insurance Services promotes growth through equity ownership, expanded coverage options, and shared services, which support its network of over 4,000 employees nationwide.
The group’s recent acquisitions include Montalvo Insurance Agency, Ignitist, The Brady Agency, Roseberry Insurance Agency, and The Sinnott Agency.
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