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The Kansas City-based company bought of Santa Monica, whicjh specializes in development, placement and administratioj support of student healthinsurance programs; of Walnugt Creek, which provides employee retirement services and HR outsourcinv primarily for nonprofits; and Inc. of Agoura which specializes in administration of studenthealth insurance, including intercollegiate sports injur programs. Overall, the acquisitions will bring Ascension’s annualp revenue to about $75 million, ranking it among the nation’ds biggest 35 agencies, Ascension CEO Leonard Klines said inan interview. The company said it had $55 milliom in revenue in after its inFort Lauderdale, Fla.
Ascensiojn now has more than 400 employeed at 20 officelocations “The acquisitions ... represent a valuable opportunity for us to expancd our West Coast operations and to fulfill our goal of providinfgthe best-quality expertise, markets and resources to the middler market,” Kline said. “Each organization brings uniquer capabilities to our growing portfolio ofinsurancw agencies, as well as dedicated employees who shars our mission to provide outstanding service to our customers in Californiaz and throughout the Uniterd States.” Kline said the deal closefd Thursday afternoon.
Ascension is a full-service insurance and employee benefits agency providing brokeragweand risk-management services to middle-market companies Ascension has been a active in the mergerx and acquisition market since it was founded from scratcuh in August 2007, making . The company is assistec by funds from its privateequity partners, and . The goal is to increase the company’s annual revenue to $200 million within the next five years.
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