King Insurance Partners expands with agency acquisition

King Insurance Partners expands with agency acquisition | Insurance Business America

Insurance News

King Insurance Partners expands with agency acquisition

New president calls partnership “an excellent match”

Insurance News

By
Terry Gangcuangco

Insurance solutions provider King Insurance Partners has acquired Barnette and Coates, an established insurance agency in North Carolina.

Trading for over 50 years, Barnette and Coates has built a strong reputation in Hendersonville and the surrounding regions. The purchase gives King Insurance three more locations to add to the three it already had in the state. The brokerage, which has made 36 acquisitions over the last three years alone, also recently announced a new president. It is targeting $75million in revenue by the end of the year.

Pete Gilbertson, president of King Insurance Partners, commented: “We are thrilled to welcome Barnette and Coates into the King Insurance Partners family. Their longstanding commitment to client satisfaction and strong community presence align perfectly with our values of excellence and customer-focused service.

By acquiring Barnette and Coates, King Insurance Partners not only expands its geographical footprint but also integrates a team renowned for its dedication to client service, a cornerstone of King Insurance Partners’ core values.

Barnette and Coates principal Jimmy Barnette noted: “This partnership represents a significant milestone in our journey. Joining King Insurance Partners enables us to access a broader range of resources and expertise, enhancing the service we provide to our clients and expanding our capabilities.

“I am so excited about the opportunities that lie ahead with King and the chance to contribute to this organization.”

The new president said at the time: “I am beyond excited to join the King Insurance Partners team. They have collectively built an unbelievable and highly regarded insurance broker. Together, I am confident in our ability to continue along King’s already impressive organic and inorganic growth trajectory.”

Prior to joining King Insurance Partners, Gilbertson served as executive vice president at USI.

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