PCF Insurance Services Completes Acquisition
- April 22, 2019
PCF Insurance Services Completes Acquisition of Grosslight Insurance, Inc.
WOODLAND HILLS, CA -- PCF Insurance Services ("PCF" or the "Company") has completed the acquisition of Grosslight Insurance, Inc., headquartered in the Westwood neighborhood of Los Angeles, CA.
Peter Foy, Chief Executive Officer of PCF, said, "We are excited to partner with such an iconic agency in the Los Angeles area as well as the broader insurance community. Our presence in Southern California is now one of the largest by any privately-held brokerage."
Grosslight Insurance, with offices in Westwood and Rancho Cucamonga, was founded in 1950 by Gil Grosslight who built the agency into one of the top twenty brokers in Los Angeles. Gil will remain active proudly servicing his clients and the Grosslight brand will continue under PCF's stewardship as one of the preeminent insurance brokerages in Southern California. The combination of Grosslight's property & casualty expertise with PCF's strong employee benefits practice has enhanced the Company's overall product offering.
In February 2017, PCF partnered with BHMS Investments, LP to accelerate the Company's growth through a series of retail agency acquisitions. BHMS is a private investment firm located in New York with a track record of success in aggregation strategies, including insurance brokerage.