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December 24, 2021updated 05 Jan 2022 1:25pm

King Insurance expands footprint via Piedmont deal 

US-based full-service insurance broker King Insurance has acquired Piedmont Insurance Associates as part of its expansion plan.

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The acquired firm is a full-service agency, which offers insurance solutions to commercial and personal lines customers from its lineup of insurance carrier partners.

King Insurance did not disclose the financial value of the deal, which is its first outside Florida.

Piedmont is based in Georgia with operations in Covington and Newnan.

Currently, David Wilson and Phil Boswell lead Piedmont, which was called Spillers Agency in the late 1940s. They combined their respective agencies to form Piedmont.

As per the agreement, Boswell, Wilson along with their entire team will join Piedmont and continue to work in their current roles.

King Insurance CEO Chad King said: “We are excited to expand into Georgia with such a high-quality agency. This is an important milestone for us as we execute on our strategy to be a major player in the Southeast.”

Wilson said: “We are excited to partner with King Insurance at such an early stage of their journey and to be part of their overall growth strategy.”

Notably, Piedmont’s acquisition marks King Insurance’s eleventh acquisition over the past year. It offers a wide range of property & casualty and employee benefits solutions.

It plans to continue expanding its footprint across the southwestern US and expects to announce more acquisitions in the coming months.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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