Audit firm sells to insurance company
An insurance company based on the state's east side has acquired a West Michigan audit firm.
Grand Rapids-based Chlystek & White Services Inc. was purchased by Farmington Hills-based H.W. Kaufman Financial Group, the company announced today. CWS will be brought under the umbrella of Afirm, Kaufman’s Fort Collins, Colorado-based premium audit, loss control and risk services provider portfolio company.
Terms of the deal were not disclosed.
CWS principal shareholder Mark de Waal will remain with the firm in Grand Rapids, acting as vice principal of sales. Each of CWS’s 158 employees also will be retained by Afirm.
“The strength of Afirm will allow all our clients to experience significant enhancements and improvements in speed, service, support, coverage territory and additional services to better serve their insured,” de Waal said.
H.W. Kaufman President, Chairman and CEO Alan Jay Kaufman said CWS was an attractive target for Kaufman as an opportunity to invest “time, talent and resources” into its home state of Michigan.
“Chlystek & White has a reputation for developing key talent and a positive workplace culture,” Kaufman said. “Those core values align perfectly with our organization.”
Headquartered in Grand Rapids, Chlystek & White has provided premium audit services to commercial lines of business since 1988.
CWS provides financial and underwriting information via in-person, phone and voluntary self-premium audits to property and casualty insurance companies, third party administrators, managing general agents and self-insured groups.