Insurance brokerage firm PCF Insurance Services has purchased US-based commercial insurance company Zinc for an undisclosed amount.
Established in 2008, Zinc provides insurance and risk management products for trucking, construction, contracting, and motorsports sectors.
The terms and conditions of the deal have not been divulged.
Zinc founder and principal Seth Zaremba said: “We built Zinc to perpetuate from day one.
“We are continually investing in the business because we want to be an attractive option for people who have helped build us and who will increase our value to customers and accelerate growth.
“PCF will allow me to continue expanding and be a part of something amazingly bigger with awesome people.”
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PCF noted that the company aims to partner with entities, who align with their business plans and other strategies to obtain long-term and sustainable growth. Zinc follows similar qualities with its investment in people, procedures as well as marketing and technology, said PCF.
PCF Insurance chairman, founder and CEO Peter C Foy said: “Zinc is based on an innovative, technology-driven business model providing complete transparency, high marketing performance, and an ability to connect with their clients and carriers, all being well-aligned with PCF’s partner-centric culture.”
Recently, PCF announced the takeover of San Mateo, California-based full-service insurance provider Andreini & Company.
Established in 1951, Andreini & Company offers several insurance products and solutions for a number of industries including agriculture, aviation, transportation, oil and gas, as well as equine mortality.