WOODLAND HILLS, Calif., April 30, 2018 /PRNewswire/ -- Peter C. Foy & Associates Insurance Services, LLC ("PCF" or the "Company") has completed the acquisition of R.L. Milsner, Inc. Insurance Brokerage; Senex Insurance Services, Inc.; Stratton Agency; and Clark & Associates of Nevada, Inc.
Peter Foy, Chief Executive Officer of PCF, said, "We are delighted to welcome the Milsner, Senex, Stratton and Clark professionals into the PCF family. In addition to the tremendous leadership and skills these partners bring to PCF, the strengthening of our southern and northern California presence as well as our entry into Nevada is a vital part of our growth plan."
Kieran Pinney, Partner of TAG Financial Institutions Group, LLC and financial advisor to PCF on several of the transactions, said, "It has been exciting to share the PCF story. The Company has a differentiated value proposition that creates excitement and opportunity for agency owners and PCF's partnership with BHMS Investments provides the Company with significant equity capital to continue to execute on its growth plan."
In addition, PCF has completed a recapitalization and financing with Madison Capital Funding, LLC ("Madison"), the preeminent financing partner to the insurance distribution industry. Jason Schryver, Managing Director of Madison, said, "Madison has a long history in the insurance and financial services market. We are excited to partner with Peter and his team, and alongside BHMS, we look forward to helping to support the next phase of the Company's growth."
In February 2017, PCF partnered with BHMS Investments, LP to accelerate the Company's growth through a series of retail agency acquisitions. BHMS is a private investment firm located in New York with a track record of success in aggregation strategies, including insurance brokerage.
Founded in 1987 and headquartered in Woodland Hills, CA, PCF is a full-service insurance brokerage agency which provides a broad array of property & casualty, life and health, employee benefits and workers' compensation insurance products, as well as ancillary services such as billing and reconciliation, COBRA administration and flexible benefits. Additional information can be found at www.pcfoy.com.
BHMS Investments, LP is a private investment firm focused on the North American middle market. The firm was founded in 2010 and is based in New York City. Additional information can be found at www.bhmsinvestments.com.
About Madison Capital:
Madison is a market leader in supporting middle market private equity sponsors with cash-flow based corporate finance products. Since its founding in 2001, Madison has invested $29.2 billion in net funded commitments in 1,075 transactions. Madison currently maintains a dedicated team of eleven insurance & financial services professionals that oversee a $1.8 billion portfolio and have invested over $3.9 billion in the sector since inception. Additional information can be found at www.mcfllc.com.
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