MarshBerry Platform and FCAA are two of the nation's leading aggregators on their own. The strategy combines resources, scope, and scale to further strengthen and position them as one of the top agency partnerships in the insurance brokerage industry. As a result, MarshBerry Platform and FCAA will market as FirstChoice together. The transaction's terms were not disclosed.
"MarshBerry is known for our client-centric mindset, industry knowledge, and ability to help our clients create economic value. The FCAA business model is completely consistent with the MarshBerry Platform's principles and growth strategies. We are thrilled to combine the best of what both firms have to offer in terms of best practices, technology, thought leadership, assets, broader access to carrier partners, and, most importantly, the ability to help even more clients of any size. Aligning FirstChoice's name recognition under the MarshBerry brand enables insurance brokers of all sizes to benefit from financial stewardship, allowing them to play bigger while maintaining firmer control over their independence "MarshBerry Chairman and CEO John Wepler stated.
FirstChoice will provide a full suite of aggregation solutions as well as customized offerings for independent insurance agencies and brokers of all sizes. The combined company serves clients with annual revenue ranging from less than $1 million to more than $1 billion.
"This is a game changer for all members," said Mike Griffin, FCAA's Chief Executive Officer. "We are constantly working to diversify and deepen our offerings and solutions to meet our members' business lifecycle needs. Because the collective resources and synergies are so compelling, we anticipate FirstChoice not only dominating but also redefining the agency partnership and aggregation space. We are committed to ensuring a smooth transition for members and staff, led by Keith Captain, President of FirstChoice. We are thrilled to be collaborating with MarshBerry."
MarshBerry has taken another strategic step with this transaction. MarshBerry announced its partnership with Atlas Merchant Capital earlier this year, which supported efforts to aggressively and intentionally grow and improve all aspects of the business. Combining efforts with FCAA is one example of deliberate growth, adding a presence in the Southeast United States with an office in FCAA's home state of North Carolina.
For more information on MarshBerry Platform, FCAA, or FirstChoice products and services, please contact Executive Vice President David Soforenko at David.Soforenko@MarshBerry.com or call 440.220.4101, or FirstChoice President Keith Captain at keith@fcaalliance.com or call 704.831.8708.
MarshBerry - Assisting Clients in Learning, Improving, and Realizing Value
MarshBerry, founded in 1981, provides insurance distribution and wealth management services to insurance agents and brokers, specialty distributors, private equity firms, and wealth management firms. Merger & Acquisition Advisory, Debt & Equity Capital Raising, Financial Consulting, Market Intelligence & Benchmarking, Organic Growth Consulting, Connect -Executive Peer Exchange, and Platform Aggregation are some of the industry-specific services offered by MarshBerry. More information is available at www.MarshBerry.com.
About FCAA
First Choice Agency Alliance is a Charlotte, North Carolina-based company that was established in 2015 as a wholesale outlet for Nationwide Captive agents seeking commercial market access. In 2017, the company evolved into an aggregation network to provide independent insurance brokers with direct carrier access, strategic planning, education, and technology. More information is available at www.joinfcaa.com.
Atlas Merchant Capital Inc.
Atlas Merchant Capital LLC was established to capitalize on exciting market opportunities in the financial services sector. Atlas Merchant Capital was founded in New York and London by Bob Diamond and David Schamis, who, along with their partners, form a complementary partnership with extensive operating and investing expertise across the financial services landscape. More information can be found at www.atlasmerchantcapital.com.