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Thursday, February 29, 2024

Brown & Brown acquires Automotive Enterprise Options



Brown & Brown Vendor Companies (BBDS), a part of US insurance coverage dealer Brown & Brown, has accomplished the acquisition of ABS.

The businesses didn’t disclose the monetary phrases of the transaction.

ABS, which incorporates ABS Threat and ABS Operations, is a guaranty product administrator working within the vehicle aftermarket, with greater than twenty years of expertise within the {industry}.

It offers component-specific warranties, nationwide street hazard programmes, and nationwide elements and labour restore warranties.

As per the phrases of the settlement, Michael Cox, CEO of ABS, will proceed to supervise the staff from its present location in Denver, Colorado.

Cox will report back to BBDS president Mike Neal.

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BBDS is a finance and insurance coverage (F&I) firm targeted on creating bespoke options aimed toward car retailers.

Neal stated: “Michael and Craig [Sanford] have performed an incredible job in rising ABS right into a premier supplier of aftermarket guarantee merchandise, serving buyer companions which can be industry-leading suppliers of tires and aftermarket auto elements.

“The ABS staff and Brown & Brown Vendor Companies share a give attention to customer support and the event of revolutionary product choices. The BBDS staff is happy so as to add the abilities of ABS to our capabilities as we proceed to supply guarantee options for our collective prospects.”

Cox added: “We’re excited in regards to the synergies this partnership will carry to our enterprise. Brown & Brown’s full suite of main insurance coverage programmes and automotive [finance and insurance] F&I merchandise will allow us to supply new value-added options to our aftermarket prospects.”

In October this yr, Brown & Brown acquired property of Pacific Underwriters, which manages public utility insurance coverage threat swimming pools.



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