PRESS RELEASE
E.P.I.C acquires Kelley & Swain Inc., a Sacramento California based provider of employee benefits programs.
San Mateo, CA – March 11, 2008 – Edgewood Partners Insurance Center (EPIC) today announced that it has acquired Kelley & Swain, Inc., a privately held Sacramento-based provider of employee benefits programs.
Kelley & Swain is one of Northern California’s top employee benefits consultants and the acquisition immediately enhances EPIC’s position in this large and rapidly growing segment of the market. In 2006, U.S. employers spent approximately $1.4 trillion on employee benefits programs.
The combination of EPIC and Kelley & Swain enhances EPIC’s ability to provide a full-range of integrated insurance services to its customers. In addition, the transaction expands EPIC’s presence in the Sacramento area and allows the company to grow its complementary property and casualty business in the region.
Commenting on today’s announcement, John Hahn, co-founder of EPIC, said: “We are delighted to add such a quality group of professionals who are aligned with our belief in bringing the very best solutions to our clients. The acquisition of Kelley & Swain affirms our strategy of building a world-class benefits operation that complements our property and casualty/risk management capabilities.”
Founded in 1992, Kelley & Swain, is one of the largest privately held benefits companies in Northern California. With a staff of approximately 40 professionals, the firm has extensive experience in developing leading benefits solutions for public and private companies of all sizes.
Privately held EPIC was founded by industry veterans Dan Francis and John Hahn, who have a combined 60 years of industry experience. The company began operating in July 2007 and has quickly scaled its business in California. EPIC’s business model is different from other large insurance brokerages in that brokerage employees of the company are equity owners, not simply commissioned employees.
About Edgewood Partners Insurance Center
Edgewood Partners Insurance Center is a new California retail property and casualty and benefits insurance brokerage firm formed by John G. Hahn and Dan R. Francis, along with Trident IV, L.P., a private equity fund managed by Stone Point Capital. EPIC currently has four offices in California – San Mateo, San Ramon, Sacramento, and Orange County.
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