PCF Insurance Acquires Belter Insurance Agency
Sica | Fletcher advises R.A. Belter Insurance Agency, Inc. (“Belter”) in its sale to
PCF Insurance (“PCF”).
Overview of Transaction
Headquartered in Orland, California, Belter is a retail insurance agency specializing in recreational marine property and casualty (“P&C”) insurance.
Utilizing strong relations with dealer networks, manufacturers and trade associations, Belter has enjoyed steady organic growth in the niche recreational marine and boat dealer industry.
PCF is a leading retail insurance brokerage with a diverse offering of commercial lines, personal lines, and employee benefits products serving more than 220,000 clients. Now a top 20 broker, PCF anticipates closing out the year with nearly $400 million in revenue and over 1,700 employees.
Significance of Transaction
The acquisition of Belter allows PCF to expand its global service offerings tailored for the recreational marine and boat sector.
Belter will have the opportunity to cross-sell its offerings within PCF's extensive network of clients.
Sica | Fletcher's Role
Sica | Fletcher was hired to serve as exclusive strategic and financial advisor to Belter and explored multiple options for the firm before Belter elected to partner with PCF.
The transaction builds on Sica | Fletcher's track record of success and relationships with the most prolific acquirers in the space.