Sunstar Insurance Group LLC acquired Generational Equity client Strong's Insurance Inc. on July 1, 2018.
Strong’s Insurance, based in Nashville, Kansas, is a nearly 100-year-old insurance firm dedicated to providing quality personal insurance, farm and crop insurance, and business insurance solutions to clients through its six offices. The firm has established relationships with numerous insurance carriers to give clients a variety of options at the most competitive prices.
Sunstar Insurance Group, based in Memphis, Tennessee, is a financial holding company focused on acquiring majority equity ownership positions in independent insurance agencies that are located in its geographical footprint in the Midwestern and Southeastern states. The firm also searches for companies that are compatible with its entrepreneurial sales culture and partnership management philosophy.
Sunstar is ranked as the 73rd largest independent insurance agency in the country and was recently recognized by the industry trade magazine, Insurance Journal, as a member of their Top 100 list of agencies based upon revenue size.
Generational Equity Senior Managing Director Michael Goss’ team, lead by trusted affiliates Lorry Nelson and Mike O’Malley with support from Generational Equity Senior VP Luan Ly, successfully closed the deal. Senior Managing Director Doug Morrow established the initial relationship with Strong’s Insurance.
“This deal was highly attractive in the market and our marketing efforts yielded multiple offers, but Sunstar stood out as the clear choice for Scott Strong and co-owner Gloria Theis,” Goss said.
“This transaction met the varying needs of both Scott and Gloria, and will help Sunstar further establish its strong service offerings and reputation across the Midwest.”
Scott Strong expressed, “I just wanted to thank you, Lorry, Michael, and Luan, and Generational Equity overall, for all of your work on helping Gloria and I sell Strong’s Insurance. It was bittersweet, but it is feeling better each day. I am grateful that we had you to guide us through this process. All of your work is greatly appreciated.”
The acquisition of Strong’s Insurance is just one of numerous clients Generational Equity has supported on their exit journey in the highly active business services industry. No other firm has closed more deals in the middle market B2B space than us.
To learn more about our expertise in this sector and explore completed transactions, visit our dedicated Business Services page.
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