Top 20 U.S. Brokerage Firm, PCF Insurance, Acquires Andreini & Company
Lehi, Utah-based PCF Insurance Services recently announced the acquisition of Andreini & Company, a full-service insurance agency based in San Mateo, California. One of the Top 20 U.S. brokerage firms, PCF Insurance recorded a 150% increase in revenue in 2021. According to a recent article, PCF Insurance has completed or has under letter of intent 104 acquisitions for the year 2022.
With over 3,100 employees throughout the U.S., PCF Insurance is a full-service consultant and insurance brokerage firm offering commercial, life, and health insurances, as well as employee benefits, and workers' compensation solutions.
By nurturing an entrepreneurial environment, having an agency-centric operations model, growing an extensive partners network, and offering significant leadership incentives, PCF Insurance has grown tremendously since its founding in 1987. The company now serves over 390,000 clients throughout the nation.
Peter C. Foy, Chairman, Founder and CEO of PCF Insurance, commented on the recent acquisition saying,
"The Andreini team has a notable history and stellar reputation within the industries and geographies it serves and possesses an entrepreneurial mindset that is reflective of their success. They bring a breadth of industry specializations, such as petroleum and agriculture, that will be beneficial to other agencies in the broad PCF network."
Foy describes the acquisition in more detail in the video below.
Andreini & Company is a full-service insurance broker, with specialized expertise in industry niches that include loss control, transportation, oil and gas, construction, and more. Michael Colzani, Executive Vice President of Andreini & Company, further expounded on the acquisition saying,
"PCF and Peter are like us - a people-centric, family company dedicated to supporting our customers while striving for growth. We're confident this partnership will provide a pathway to long-term success through operational resources, new growth opportunities, and a network of knowledgeable colleagues."
Last month, PCF announced several additional acquisitions, including Ohio-based Wilber-Price Insurance Group, Florida-based Apple Insurance Financial Services, and A Insurance Agencies located throughout Utah.