Thought Leadership

Insights From Agency Sellers: Real-World Perspectives if you are Thinking About Selling Your Agency

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August 13, 2019 | Brown & Brown Communications | Mergers & Acquisitions

There are many variables to consider when determining whether selling your agency is the best strategic move for your future.

We sat down with Paul Rogers of Pacific Resources and Steve Boyd of Arrowhead Group to discuss those considerations and their experience when joining the Brown & Brown team. Paul and Steve were key leaders for their respective businesses before joining our organization. Now, they are essential members of the Senior Leadership team for Brown & Brown.

Advantages of Selling to Brown & Brown

Rogers: Culture and commitment to the industry is what differentiates Brown & Brown. They provided the ability to remain decentralized but with all the advantages of a multi- billion dollar company such as having access to new markets, products, technology and industry leading best practices. The leadership team at Brown & Brown truly understands our business.

Boyd: The advantages for us are having access to incredible relationships and strategic partners that enhance our company’s success. The strong financial backing is critical to the national accounts and the fortune-ranked marketplace that we serve. We still get to run, operate, and create the strategy for our company and when we need assistance and guidance from senior leadership, they are there for us.

Thoughts on Other Buying Models

Rogers: Autonomy is important to us as leaders and as a team. We didn’t find any value added with a roll-up strategy where we would end up on an island with little to no support. We are happy with Brown & Brown because the unique combination of autonomy and resources.  This combination struck the best balance and proved to be the most successful option for our growth as an agency.

Boyd: A lot of acquiring models don’t offer longevity and continuity. They can also include a significant amount of leverage which can strain the business. We like working with an organization built by insurance people and built to last forever.

Critical Factors in Deciding to Sell or Not to Sell

Rogers: We spend a lot of time and effort in building our culture and investing in our employees – and we have the brightest and best. It was critical for us to find a home where teammates can thrive and it’s evident that Brown & Brown believes in the people component of the business.

Boyd: Finding the right cultural fit is a major consideration. In my experience a strong cultural alignment is at the center of most successful acquisitions and understanding the culture and operating philosophy of the buyer is key for most sellers.

 

For more information visit our Mergers & Acquisitions page by clicking here.