IMA Financial Group has wrapped up the acquisition of Pennsylvania-based insurance agency ESS NexTier Insurance Group for an undisclosed amount.
IMA Financial, which specialises in property and casualty insurance, employee benefits and surety bonds, said ESS NexTier Insurance’s acquisition will expands its energy practice.
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It will add natural gas capabilities to IMA’s existing expertise including onshore and offshore operations and international exploration.
The acquired firm has our offices located across the Pennsylvania – in Butler, Pittsburgh, and two in Kittanning.
Besides, the acquisition of ESS NexTier establishes a Northeastern footprint for the insurance brokerage firm.
IMA Financial main offices are located across the states of Colorado, Kansas, Michigan, and Texas.
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By GlobalDataIMA Financial Group chairman and CEO Rob Cohen said: “Our long-term growth strategy hinges on partnering with highly successful firms like ESS NexTier that add to our expertise and share our ideals.
“Despite current economic conditions, IMA continues to focus on its long-term strategy and unwavering commitment to building an industry-leading team.”
ESS NexTier employs 35 people currently and all its four locations will continue to operate as IMA | ESS.
In the new setup, Charles Echnoz takeover the role of president of IMA | ESS – Pittsburgh, while Rick Putnam will be senior executive vice president of IMA | ESS and Watson Barker will be the executive vice president of IMA | ESS.
Echnoz said: “We are joining two companies, but the benefits to our clients and teams are much more than one plus one.
“Together, we create remarkable bench strength in our core business areas and a wider offering to better service our existing clients.”
