Sica | Fletcher advises KPR Incorporated t/a Parker Reigle Insurance Agency, Inc. (Parker Reigle) in its sale to Choice Financial Group, LLC

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Overview of Transaction

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  • Located in Chesapeake, Virginia, Parker Reigle is a retail agency founded by June Reigle in 1990.

  • Parker Reigle is a commercial lines-focused generalist with a long history serving clients throughout Virginia and Maryland.

  • Parker Reigle decided to partner with Choice Financial Group. Choice is a rapidly-growing firm in the insurance agency and broker space, having recently partnered with Northlane Capital Partners (“NCP”), a leading private equity platform, to enable growth.

Significance of Transaction

  • The acquisition of Parker Reigle is the latest in a string of acquisitions by Choice. It offers Choice a strong agency partner with robust expertise, a sticky book of business and significant ties to the local community.

  • The resources and support provided by Choice will accelerate Parker Reigle’s growth and allow the Company to target previously unattainable clients.

 

Sica | Fletcher's Role

  • Sica | Fletcher was hired to serve as strategic and financial advisor to Parker Reigle.

  • The transaction underscores Sica | Fletcher's track record of success in deal execution, as well as its relationships with growing acquirers in the space.

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