PCF Insurance Services (PCF), a US-based insurance brokerage firm, has acquired John E. Peakes Insurance Agency, a California-based, family-owned, full-service personal lines agency.
The deal enables PCF Insurance to widen its portfolio into niche markets in the high-growth small business industries, including restaurants, apartment buildings, and gym and fitness.
The terms of the deal have not been disclosed.
John E. Peakes Insurance Agency was advised by Marshberry for the transaction.
PCF Insurance chairman, founder and CEO Peter C. Foy said: “We’re delighted to welcome the John E. Peakes Insurance Agency, Inc. to PCF.
“They have a proven track record serving clients for over 50 years in high-growth niche markets and will provide PCF with additional scale in Southern California. President Chad Peakes is an outstanding young leader keenly focused on agency growth.”
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PCF Insurance claims to have an agency-centric operating model and entrepreneurial environment, providing agency partners alignment via equity ownership, leadership incentives, and resources across the country.
John E. Peakes Insurance Agency president Chad Peakes said: “PCF Insurance has allowed us to focus on our family of customers while looking toward future growth.
“PCF shares our core values, and the collaboration has been exhilarating.”
This year, PCF Insurance has completed or has under a letter of intent 104 acquisitions.