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All Content Copyright 2019 - Sica | Fletcher LLC | 21 Green Avenue | Amityville, NY 11701

Hays Companies is acquired by Brown & Brown for $705 Million

Overview of Transaction

  • Jim Hays founded Hays Companies in 1994 out of his garage in Minneapolis, MN.

  • Headquartered in Minneapolis, Hays Companies is comprised of more than 700 risk management and employee benefits professionals in 32 locations across 21 states. Hays has grown to be the largest independent broker of business insurance and employee benefits in the Upper Midwest.

  • The Hays Companies focuses on risk management, commercial insurance, employee benefits, consulting services, specialty programs and private client services.

  • Nearly 100% of Hays Companies’ growth has been realized organically as opposed to through acquisitions.

  • Hays ranks as #20 on Insurance Journal’s list of Top 100 Property/Casualty Independent Agencies with annual revenues close to $200 million, with more than $90 million of that in P/C insurance.

  • Hays agreed to be acquired Brown & Brown (NYSE:BRO), one of the largest insurance brokers in the world, for $705 million.

 

Significance of Transaction

  • The transaction marks the largest acquisition ever by Brown & Brown in its 75-year history.

  • The Hays acquisition bolsters and expands Brown & Brown’s foothold in the Upper Midwest.

  • Hays Companies will operate as a region inside Brown & Brown Retail; one of four divisions.

  • The acquisition creates long-term synergies due to shared culture, unique client focus, and one of the most seasoned Executive Leadership Teams in the industry.

 

Sica | Fletchers' Role

  • Hays Companies engaged Sica | Fletcher to explore multiple strategic options for the firm culminating in the sale to Brown and Brown.

  • The Hays transaction builds on Sica | Fletcher's track record of success with large and complex transactions.

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