Brown & Brown, Inc. Announces the Asset Acquisition of First Resource, Inc. by Brown & Brown Dealer Services
July 09 2020 - 8:16AM
J. Scott Penny, Chief Acquisitions Officer of Brown & Brown,
Inc. (NYSE:BRO), and James Nelson and Lynn Meyer, the owners of
First Resource, Inc. (“First Resource”), today announced that Brown
& Brown Dealer Services (“BBDS”) has acquired substantially all
of the assets of First Resource.
Since 2004, First Resource has been assisting
its dealer partners to better serve their valued clientele by
providing strategies around F&I performance management, sales
training and F&I product solutions. James and Lynn will
continue to lead the First Resource operation from New Braunfels,
Texas. First Resource will become part of Brown & Brown
Dealer Services, which operates under the leadership of Mike
Neal.
Mike stated, “James and Lynn have been involved
in the auto F&I industry for over 25 years. James, Lynn
and the First Resource team bring valuable depth and experience to
our BBDS operation. First Resource, working with Tony
Fincannon, will continue serving our dealer partners in the great
state of Texas and throughout the southwest.”
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 WattsChief Financial Officer (386)
239-5770
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