Insurance company acquires agency
An insurance company in the area has strengthened its benefits division by acquiring a competitor.
Grandville-based BHS Insurance acquired Ada-based Preferred Benefits, effective Jan. 1, according to BHS last week.
Preferred Benefits is vacating its office and joining BHS at its Grandville headquarters, at 3055 44th St. SW.
Terms of the deal were not disclosed.
“Preferred Benefits has been a friendly business competitor of ours,” said Pat Dalton, shareholder and chartered benefits consultant, BHS Insurance. “We’ve always respected their leadership and industry expertise.”
Jeﬀ Noom, formerly CEO of Preferred Benefits, will continue on with BHS in a sales role.
“I could not be more excited to join the team at BHS,” Noom said. “This will strengthen our position in the marketplace and allow us to provide our clients with more solutions to many of their needs.”
Sue Mason was the president of Preferred Benefits. She’ll also take on a sales role at BHS.
“We did not make this decision lightly,” Mason said. “We wanted to partner with someone who provides quality services and — just as importantly — treats their employees with dignity and respect. These are key qualities in running a successful business.”
Preferred Benefits' other employee is also being retained. Following the transaction, BHS Insurance now has 140 employees.
This is the second acquisition for BHS Insurance in the past two years. It acquired Strategic Employee Benefit Services of Michigan in 2017.
Founded in 1939, BHS Insurance is an independently owned insurance agency with locations in Grandville, Byron Center, Hudsonville and Holland.
It provides a wide range of offerings to local and national customers: home, auto, business and commercial insurance; employee benefits; specialty insurance programs; retirement plan consulting; wellness; human resources; ACA compliance; and technology solutions.
Founded in 1975, Preferred Benefits provided employee benefit solutions and group health insurance.