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Afore Insurance Services completes acquisition of Powers Insurance Services, LLC in South Carolina

Oct 15, 2024•about 1 year ago

Acquiring Company

Afore Insurance Services

Acquired Company

Powers Insurance Services

AlpharettaSouth CarolinaInsuranceRisk ManagementEmployee BenefitsConsulting

Description

Afore Insurance Services, LLC has acquired South Carolina-based Powers Insurance Services, LLC. As a result, Jeremy Powers and the agency's team of 6 will join Afore, marking a new location for Afore in South Carolina. This acquisition aligns with Afore's strategy to expand nationally and offer an attractive alternative to agency sellers.

Company Information

Company

Afore Insurance Services

Location

3480 Preston Ridge Rd

Alpharetta, Georgia, United States

About

Afore Insurance Services is a consolidated insurance brokerage acquisition platform offering independent insurance agencies the opportunity to partner with a top 100 national firm to better serve clients. With roots going back to the 1970s, Afore has successfully acquired over 50 agencies and operates them under custom operating structures where (former owner) principals and producers direct client sales and service activities locally. Today, Afore is one of the largest insurance brokers in the US, with 20+ offices nationwide.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed