Mergers & Acquisitions

Ash Brokerage Announces Recapitalization and Repurchase of Century Equity Partners' Ownership

Ash returns to fully independent, closely held company

Ash Brokerage, one of the largest independent insurance brokerage general agencies in the United States, today announced a strategic recapitalization through its repurchase of Century Equity Partners’ interest in the company.

Boston-based Century Equity Partners acquired a minority interest in Ash Brokerage in September 2017, and subsequently worked in partnership with Ash Brokerage’s leadership team to complement the company’s organic growth through the establishment and execution of an M&A initiative focused on selective, strategically important acquisitions. Ash Brokerage acquired three firms during the partnership: Zenith Marketing Group (Mar. 2018), Target Insurance Services (Nov. 2018) and Bell & Associates Consulting (Sept. 2019).

As Ash Brokerage positions for continued success and growth, Tim Ash, CEO, felt it was important to return to a fully independent, closely held company.

“The plan was always for Century to exit when the time was right,” Ash said. “Looking at our success over the last three years, our partnership with Century allowed us to reach new markets and cultivate deeper relationships. It was an exciting phase of growth, and we are thankful for their partnership. Today we’re moving into a new decade with a renewed focus on providing an exceptional experience for our advisors, their clients, and the communities we all serve.”

Century Echoes The Sentiment

“Ash was an excellent partner,” said Stephen Marquardt, managing director of Century Equity Partners. “Their leadership team sets ambitious goals and consistently drives to exceed them, all with a focus on doing what’s right for their clients, their employees and their community.”

In an increasingly complex operating and regulatory environment, Ash wants to send a message to the industry that they are here to stay.

The plan was always for Century to exit when the time was right...

“We have no plans of slowing down,” said Jason Grover, president of Ash Brokerage. “As we approach 50 years of operations, we’ve made investments back into our business to uniquely position us for continued growth. 2019 was our most successful year ever no matter how you measure it, in terms of lives impacted and total sales.”

Terms of the transaction were not disclosed.

 

 

About Ash Brokerage – ashbrokerage.com
Ash Brokerage is a brokerage general agency based in Fort Wayne, Indiana, answering the needs of financial professionals nationwide. For life insurance, annuities, long-term care or disability income, Ash provides the tools and, more importantly, the people needed to get the job done right. For almost 50 years, the firm has built its success on strong, personal relationships with its clients and partners. Whatever the question. Whatever the need. Ash Answers.
About Century Equity Partners – cepfunds.com.
Century Equity Partners is a Boston-based private equity firm that focuses on investing in companies operating across the insurance, asset and wealth management, specialty finance and banking services sectors. Century provides private equity to finance the expansion, recapitalization, or support the acquisition strategy of mid-market companies.