PCF Insurance Services Acquires Mourer Foster
Sica | Fletcher advises Mourer Foster in its sale to PCF Insurance Services.
Overview of Transaction
Located in Lansing, Michigan, Mourer Foster, Inc. (MF) is a retail specialty insurance broker with a history dating back to 1933. The company has expertise in surety bond business and offers multiple specialty risk programs as well as traditional business and personal insurance products.
Founded in 1987, PCF Insurance Services (PCF) is a rapidly growing full-service insurance brokerage backed by HGGC, a leading middle‐market private equity firm with $4.3 billion in cumulative capital commitments.
Significance of Transaction
The acquisition of Mourer Foster provides the opportunity for PCF to add a leading specialty broker in the surety bond market to its growing portfolio.
Sica | Fletcher's Role
Sica | Fletcher was hired to serve as exclusive strategic and financial advisor to Mourer Foster and explored multiple options for the firm.
The Mourer Foster transaction builds on Sica | Fletcher's track record of success with complex transactions and key relationships with the most prolific acquirers in the space.