Insurica, an Oklahoma City-based independent insurance agency, has acquired Texas-based Guaranty Insurance Services.
Both Guaranty and Insurica specialize in the construction, education, energy, hospitality, ministries, municipalities and technology.
In the state of Texas, Guaranty has offices locations in Arlington, Austin, Baytown, Dallas, Henderson, Houston, San Antonio and Tyler, and in the state of California the office are located in Bakersfield, Frazier Park, Lake Isabella, Los Angeles, Palmdale, Paso Robles, Porterville and Tulare.
Insurica president and CEO Mike Ross that this acquisition significantly expands Insurica’s market and is an excellent strategic fit for it.
"We’ll nearly double our revenue to over $75m, our colleague count will go from 245 to 465 and our locations will more than double from 12 to 27 offices, giving us increased presence in Texas and California while maintaining our locations in Oklahoma, Arkansas, Arizona, Oregon and Kansas.
"Our additional expertise in areas like staffing, environmental, healthcare and transportation and their expertise in real estate, professional services and agribusiness and wineries provide both synergy and opportunities for continued expansion and growth," Ross said.