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All Content Copyright 2020 - Sica | Fletcher LLC | 21 Green Avenue | Amityville, NY 11701

Peter C. Foy & Associates Insurance Services Acquires First Insurance Group

Sica | Fletcher guides First Insurance Group in its sale to Peter C. Foy & Associates Insurance Services.

Overview of Transaction

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  • With roots dating back to 1882, First Insurance Group (FIG) is a collection of retail insurance agencies headquartered in Bardstown, Kentucky.

  • FIG serves approximately 5,800 clients, including a large block of construction and manufacturing business which are two sectors of strategic interest to Peter C. Foy & Associates Insurance Service (PCF).

  • First Insurance Group agreed to be acquired by Peter C. Foy & Associates Insurance Service. Headquartered in Woodland Hills, CA, PCF is a rapidly growing full-service insurance brokerage agency that has partnered with BHMS Investments, LP (BHMS) to accelerate PCF’s growth through a series of retail agency acquisitions.

Significance of Transaction

  • Through the partnership with FIG, PCF substantially expands its presence in the Midwest marketplace. The partnership creates long-term synergies due to their shared culture and the seamless product fit.

  • The acquisition continues the rapid growth trajectory that PCF has experienced since it partnered with BHMS Investments, LP in February 2017.

Sica | Fletchers' Role

  • First Insurance Group engaged Sica | Fletcher to serve as its exclusive strategic and financial advisor.

  • Sica | Fletcher explored several strategic options for FIG, ultimately culminating in a partnership with PCF.

  • This transaction further highlights Sica | Fletcher’s strong relationships with private equity firms and the brokerages they support.  Sica | Fletcher previously represented PCF in its partnership with BHMS.