Peter C. Foy & Associates Acquires Grosslight Insurance, Inc.

Sica | Fletcher guides leading California-based Grosslight Insurance, Inc. in its sale to Peter C. Foy & Associates

Overview of Transaction

  • Grosslight was founded in 1950 by Gil Grosslight, who continued to be the firm’s President and CEO until its sale to PCF.

  • Headquartered in Los Angeles, Grosslight is sizable full service retail insurance agency providing a full range of property and casualty and employee benefits products.

  • Grosslight agreed to be acquired by PCF.  Headquartered in Woodland Hills, CA, PCF is a rapidly growing full-service insurance brokerage agency which has partnered with BHMS Investments, LP (“BHMS”) to accelerate PCF’s growth through a series of retail agency acquisitions.

 

Significance of Transaction

  • The Grosslight acquisition bolsters and expands PCF’s already substantial presence in the California marketplace.

  • Creates long-term synergies due to the geographic proximity of the businesses and the excellent cultural and product fit.

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

Sica Fletchers' Role

  • Grosslight Insurance engaged Sica | Fletcher as its strategic advisor to explore strategic options for the firm.

  • The Grosslight transaction builds on Sica | Fletcher's track record of success across the Commercial and Personal lines space in the California market.

  • This transaction further highlights our strong relationships with private equity firms and the brokerages they support.  We represented PCF in its February 2017 partnership with BHMS.

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Contact Details

MICHAEL J. FLETCHER

Managing Partner

516.967.1958

mjf@sicafletcher.com

ALEXANDER W. SICA

Managing Partner

201.805.1561

al@sicafletcher.com

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