Brown & Brown, Inc. Announces the Asset Acquisition of Maj Companies Ltd. by Brown & Brown Dealer Services
December 09 2020 - 6:45AM
J. Scott Penny, Chief Acquisitions Officer of Brown & Brown,
Inc. (NYSE:BRO), and Sid Vance, the owner of MAJ Companies Ltd.
(“MAJ”), today announced that Brown & Brown Dealer Services
(“BBDS”) has acquired substantially all of the assets of MAJ.
For the past 30 years, MAJ Companies has been
serving its dealer partners by providing best in class F&I
product and sales training, aftermarket program and contract
analysis and F&I performance management. Sid Vance will lead
the MAJ team as part of Brown & Brown Dealer Services, which
operates under the leadership of Mike Neal.
Mike stated, “Sid and the MAJ team have been
working together for over 30 years. That experience will enhance
the continued growth of BBDS in Ohio and the Midwest. BBDS and MAJ
will continue to work with Mike Jardina, the founder of MAJ, who is
a recognized industry leader in F&I reinsurance strategies for
dealer partners. We are excited to have Sid and his team join
BBDS.”
Sid stated, “We are excited to begin this
partnership with Brown & Brown. We have known many of the
leaders on the BBDS team and feel that this is the perfect fit for
us. Joining BBDS will give our team the opportunity to continue to
deliver top quality programs to our dealer customers and provide
them access to more risk solutions than we have had available in
the past.”
Brown & Brown, Inc. is a leading insurance
brokerage firm, providing risk management solutions to individuals
and businesses. With Brown & Brown’s 80 years of proven success
and thousands of teammates, we offer knowledge you can trust and
strive to deliver superior customer service. For more information,
please visit bbinsurance.com.
This press release may contain certain
statements relating to future results which are forward-looking
statements, including those associated with this acquisition. These
statements are not historical facts, but instead represent only
Brown & Brown’s current belief regarding future events, many of
which, by their nature, are inherently uncertain and outside of
Brown & Brown’s control. It is possible that Brown &
Brown’s actual results and financial condition may differ, possibly
materially, from the anticipated results and financial condition
indicated in these forward-looking statements. Further information
concerning Brown & Brown and its business, including factors
that potentially could materially affect Brown & Brown’s
financial results and condition, as well as its other achievements,
is contained in Brown & Brown’s filings with the Securities and
Exchange Commission. Such factors include those factors relevant to
Brown & Brown’s consummation and integration of the announced
acquisition, including any matters analyzed in the due diligence
process, and material adverse changes in the business and financial
condition of the seller, the buyer, or both, and their respective
customers. All forward-looking statements made herein are made only
as of the date of this release, and Brown & Brown does not
undertake any obligation to publicly update or correct any
forward-looking statements to reflect events or circumstances that
subsequently occur or of which Brown & Brown hereafter becomes
aware.
R. Andrew Watts Chief Financial Officer (386)
239-5770
Brown and Brown (NYSE:BRO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Brown and Brown (NYSE:BRO)
Historical Stock Chart
From Apr 2023 to Apr 2024