US-based insurance coverage brokerage firm PCF Insurance coverage Companies has prolonged its acquisition spree with the deal to purchase Skilled Guarantee Service (PWSC).
Established in 1995, PWSC supplies specialised threat administration options for house building and property administration sectors.
Based mostly in Chantilly, Virginia, the corporate additionally presents knowhow in addition to services to builders, insurance coverage carriers, brokers, brokers, property managers, owners and renters.
PWSC provides an entire suite of constructional and equipment guarantee options for property managers and residential constructing companies, said the corporate.
The newest acquisition is in step with PCF’s method to collaborate with companies which have a historical past of progress and success in addition to entrepreneurial functionality, amongst others.
Monetary and different phrases of the deal weren’t divulged.
PCF Insurance coverage Companies chairman, founder and CEO Peter C Foy mentioned: “PWSC has a formidable report of constructing distinctive and significant warranty-based threat administration options for house builders, institutional traders, and property managers.
“Their innovation and dedication to mitigating threat aligns with a holistic options method that’s core to PCF’s worth proposition and will probably be helpful to different Company Companions and shoppers throughout the PCF community.”
With the brand new deal, PCF Insurance coverage goals to increase its current merchandise and bolster its footprint in the true property and building enterprise.
The corporate additionally seeks present new specialty threat administration options.
Skilled Guarantee Service president and CEO Tyler Gordy mentioned: “Becoming a member of the PCF household permits PWSC to proceed its lengthy custom of mixing insurance coverage and guarantee providers to deliver full threat administration options to high-risk industries.
“We’re assured this partnership will yield new alternatives to deliver progressive options to our shoppers and speed up our progress.”
Up to now this yr, PCF Insurance coverage Companies has closed or has agreed to carry out 66 buyouts.
Late final month, PCF Insurance coverage Companies introduced the acquisition of US-based business insurance coverage firm Zinc.
