Britt/Paulk Insurance Agency has agreed to acquire substantially all of the assets of Mitchell, York & Cooper, a Florida-based marine insurance broker.
LMC Capital served as Britt/Paulk’s financial advisor in connection with this transaction.
John Paulk, president of Britt/Paulk, said: This acquisition strengthens our presence in Florida and provides our company with our first entree into the marine products market. As a company, this is our first acquisition, but, it will certainly not be our last. We intend to continue looking for additional growth opportunities through acquisitions that will fit well with our corporate culture and our long term strategy.
Stephen York, president and one of the original founders of Mitchell, York & Cooper, said: We are delighted to become a part of the Britt/Paulk team. The national distribution channels established by Britt/Paulk and their easy to operate online policy underwriting system will make our marine products accessible to literally, thousands of new agents.