Insurance company acquiring agency
An out-of-state distributor of life and health insurance products is acquiring an insurance agency in the region.
Dallas-based Integrity Marketing Group entered into a definitive agreement to acquire Grand Haven-based MultiState Insurance Center, according to Integrity yesterday.
Terms of the deal were not disclosed.
As part of the transaction, MultiState owner and CEO Karen Fredricks will become an owner in Integrity.
“My father started MultiState over (55) years ago, and I was born into the business,” Fredricks said. “We’ve always had the motto to ‘do the right thing,’ and Integrity is the right platform to take MultiState to the next level.
“I had to find out why all these organizations were joining Integrity. What I learned was that my business would only get stronger. Integrity has built a platform to help family-run businesses access the resources they need to grow, while securing their legacy. Our agents will benefit from more products and value-add services, and the support Integrity provides means our team can focus on serving agents and helping more families.”
Bryan Adams, co-founder and CEO of Integrity, said the company is “proud to partner with Karen and her entire team.”
“MultiState is a fast-growing agency," Adams said. "And we are excited to provide their team with additional resources to continue to grow and expand."
Mike White, managing partner at Integrity, added that he has “done business with Karen and her team at MultiState for almost 20 years.”
“Karen has taken the business to a whole new level,” White said. “We are thrilled to have her on board.”
Founded in 1965, MultiState Insurance Center is a second-generation, family-owned agency specializing in Medicare supplement and final expense insurance for seniors.
Founded in 2006, Integrity Marketing Group is an independent distributor of life and health insurance products focused on serving the senior market.
It develops and distributes products with insurance carrier partners and markets the products through its distribution network, which includes other large insurance agencies throughout the country with a total of 140,000 independent agents.
Integrity has 450 employees and serves more than 3-million clients.