Brown & Brown of Kentucky, part of Brown & Brown, has snapped up the assets of Finance & Insurance Resources (F&I Resources). Financial terms of the deal were not disclosed.
Established in 1993, F&I Resources offers F&I sales training as well as auto related warranty products to their dealer partners. The business generates revenues of around $10.5m per year.
As part of the deal, the acquired entity’s employees will join Brown & Brown’s auto, RV and powersports practice. This practice is headed by Brown & Brown of Kentucky president Mike Neal.
“Jason and Bob have grown F&I Resources to be a best-in-class operation delivering sales performance training and warranty insurance products for their dealer partners. The F&I Resources team will provide additional expertise to our growing platform in this space and establish a base for operations in the Northeast,” Neal noted.
F&I Resources principal Bob Hunter added: “Brown & Brown’s culture, which is focussed on clients and teammates, is a perfect match for us.
“Joining our company with Brown & Brown will provide us the opportunity to enhance our relationships with our valued customers through additional product offerings and training.
Brown & Brown has recently been on an acquisition spree. Earlier this year, the firm acquired Manning & Nozick Insurance Agency and Servco Pacific Insurance’s operations in Hawaii and the Pacific Northwest.
