Brown & Brown, Inc. Announces Latest Acquisition
- July 16, 2018
Brown & Brown, Inc. Announces the Asset Acquisition of Coffman-Standridge Incorporated d/b/a CSI Insurance
DAYTONA BEACH, FL -- J. Scott Penny, Chief Acquisitions Officer of Brown & Brown, Inc., and Mark A. Coffman, the sole shareholder of CSI Insurance, announced that Brown & Brown of Arkansas, Inc., a subsidiary of Brown & Brown, Inc., has acquired substantially all of the assets of Coffman-Standridge Incorporated d/b/a CSI Insurance.
CSI Insurance was founded in 2010 by Mark Coffman and the late Greg Standridge. With annual revenues of approximately $1.5 million, the firm provides property and casualty insurance products and services to customers throughout Arkansas. Following the acquisition, the CSI Insurance team will combine with Brown & Brown’s Greater Central Arkansas operations and will operate under the leadership of C. Tim White, Executive Vice President of Brown & Brown of Arkansas.
Mr. White stated, “This combination with Mark and CSI’s high-quality, experienced team offers a unique opportunity to expand our presence in Central Arkansas. There’s a strong cultural, strategic fit, and we believe together we’ll be even better positioned in providing outstanding service and products to our valued customers, as well as furthering our impact to the Russellville community.”
Mr. Coffman stated, “We are excited to take our business in this new direction. Joining Brown & Brown was a strategic decision driven by our desire to make a long-term investment in the value we bring to our clients and teammates. The existing relationship with the local Brown & Brown office, coupled with the opportunities afforded by our new affiliation, is a perfect fit for us.” He added, “We firmly believe this transaction will play a key role in achieving our goal to deliver a comprehensive set of services and solutions to our current and future clients.”