Brown & Brown Insurance agreed to a deal to acquire MBA Insurance, Brown & Brown Acquisitions Officer J. Scott Penny announced in a news release this week.
A price was not disclosed, but MBA has annual net revenue of about $5.5 million, according to the release, and will merge MBA, its employees and offices in Scottsdale, Ariz. into the Brown & Brown network, according to the release.
The parties anticipate that the acquisition will close in December of 2015.
“Brown & Brown has shown that they are truly vested in the industry segments that MBA serves – RV and Powersports,” MBA Insurance Owner Bert Alanko said. “By joining Brown & Brown, our experienced team will continue to provide great MBA customer service along with gaining access to new products.”
Founded in 1978, MBA provides rental insurance for the RV and power sport vehicle markets throughout the U.S.
Bert Alanko and his MBA team will become part of Brown & Brown of Kentucky's National RV Center, which is based in Columbia, Ky. and also has locations in Tampa, Fla., Simi Valley, Calif. and Albany, N.Y.
The National RV Center operates under the leadership of Mike Neal, Executive Vice President of Brown & Brown of Kentucky. The MBA team will continue to operate from their existing office in Scottsdale, Ariz., and will report to Mike Neal.
"For over thirty years, Bert Alanko and MBA have been a leader in the RV and power sport rental insurance marketplace by providing innovative insurance and technology solutions,” Neal said. “This transaction allows us to broaden and strengthen the National RV Center's operations by rounding our insurance solutions for RV and power sport dealers and owners.”