HMS Agency Seals Its Fifth Acquisition
- October 25, 2018
HMS Agency Acquires Adirondack Family Insurance Services
ALBANY, NY -- HMS Agency, Inc. (HMS), a family-owned and operated insurance agency based in Albany, New York, recently announced its acquisition of Adirondack Family Insurance Services of Saratoga Springs.
“The purchase of Adirondack Family Insurance Services supports HMS’s continued growth strategy,” stated Stephen Mather, Principal of HMS. “The agency’s profitable personal lines book of business and prime location were key considerations during our decision-making process.”
The purchase agreement was finalized on July 1, 2018 and represents the fifth acquisition by HMS since 2014. Mather noted that each acquisition bolsters HMS’s entry and expansion into new and adjacent markets, allowing them to significantly expand their geographic reach into the Saratoga county and surrounding areas. He described Saratoga county as a “growth hub,” stating “HMS’s initial acquisition of Castle & McLennan Insurance Agency is what prompted the opening of a satellite office in Ballston Spa, NY. That’s when we made the decision to launch our market expansion into Saratoga county.”