MidCap Advisors Partners with Innovative Insurance for Growth
MidCap Advisors Guides Innovative Insurance Group in Key Acquisition
NEW YORK – MidCap Advisors, a leading lower to middle-market investment bank, is excited to announce its role as the exclusive financial advisor to Innovative Insurance Group in their recent sale to ALKEME Insurance, one of the fastest-growing independent insurance brokerages in the nation.
Strategic Alignment and Growth Opportunities
This landmark transaction emphasizes the dynamic nature of the insurance industry, where agencies can enhance value and accelerate growth through strategic mergers. By aligning with ALKEME, Innovative Insurance Group stands to gain significant scale and access to enhanced infrastructure that is characteristic of national platforms, all while maintaining the client-first culture that fueled their success for the past decade.
Innovative Insurance Group's Unique Market Position
Founded in 2015 through the merger of several regional agencies, Innovative Insurance Group has developed a strong reputation for cultivating deep carrier relationships and offering exceptional consultative expertise. With a focus on employee benefits, HR services, and compliance with the Affordable Care Act, the firm has solidified its presence on the East Coast. Its leadership position makes it an invaluable asset to ALKEME’s expanding benefits platform.
Leadership Insights on the Acquisition
Samuel Irby, Co-Founding Partner of Innovative Insurance Group, expressed enthusiasm about the merger, stating, "Joining ALKEME is an exciting step forward for our agency and our clients. We share ALKEME's commitment to service and innovation." Ryan Sanford, Managing Director at MidCap Advisors, added, "Leading the Innovative team through this transaction was a privilege. It highlights the vibrant opportunities that exist within the insurance M&A landscape, particularly as firms with strong regional roots collaborate with those like ALKEME, known for their collaborative agency partnership approach."
The Role of MidCap Advisors
MidCap Advisors remains dedicated to representing high-performing agencies across the country, helping owners navigate pivotal transactions while identifying strategic and cultural fits for sustained success.
Understanding Innovative Insurance Group's Background
Innovative Insurance Group was established through the merger of reputable agencies including Benefits Group, Inc., Insurance Services of the South, Inc., Weaver & Weaver Insurance Agency, Inc., and Dennison Insurance Agency, Inc. Headquartered in Virginia, this firm specializes in a wide range of insurance solutions including group, employee benefits, individual, and senior health insurance, serving brokers and employees throughout the East Coast. The group has been acknowledged for its consultative approach and unyielding commitment to client success.
ALKEME Insurance’s Growing Influence
ALKEME Insurance ranks among the Top-35 national insurance brokerages, boasting over 60 offices across 29 states. The company provides comprehensive commercial, personal, and employee benefits solutions, offering agency owners an array of flexible partnership models and essential shared resources that empower them to grow independently and effectively.
The Expertise of MidCap Advisors
MidCap Advisors specializes in mergers, acquisitions, and strategic consulting for lower- to middle-market entities. Their advisory services encompass both sell-side and buy-side solutions, demonstrating a commitment to understanding client needs and leveraging industry expertise to maximize transaction value while safeguarding client legacies. Their nationwide presence enhances their capacity to support diverse client objectives.
Frequently Asked Questions
What role did MidCap Advisors play in the acquisition?
MidCap Advisors acted as the exclusive financial advisor to Innovative Insurance Group during its acquisition by ALKEME Insurance, facilitating a strategic partnership.
What are the advantages of the merger for Innovative Insurance Group?
The merger allows Innovative Insurance Group to gain scale, access superior infrastructure, and enhance its service offerings while maintaining a client-centered approach.
When was Innovative Insurance Group founded?
Innovative Insurance Group was established in 2015 through the merger of several regional agencies.
How does ALKEME Insurance operate?
ALKEME Insurance provides commercial, personal, and employee benefits solutions, emphasizing agency empowerment through flexible partnership models and shared resources.
What services does MidCap Advisors provide?
MidCap Advisors offers advisory services in mergers and acquisitions, specializing in helping lower- to middle-market companies navigate complex transactions.
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