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The Kansas City-based compan bought of Santa Monica, whicnh specializes in development, placement and administration support of student healthinsurance programs; of Walnut Creek, which providee employee benefits, retirement services and HR outsourciny primarily for nonprofits; and Inc. of Agoura Hills, which specializes in administration of student health including intercollegiate sportsinjury programs. Overall, the acquisitionw will bring Ascension’s annual revenue to about $75 ranking it among the nation’s biggest 35 agencies, Ascensiom CEO Leonard Kline said inan interview. The companuy said it had $55 million in revenue in March, aftefr its in Fort Lauderdale, Fla.
Ascensionm now has more than 400 employeesx at 20 officelocations nationwide. “Thed acquisitions ... represent a valuable opportunity for us to expansd our West Coast operations and to fulfill our goal of providinygthe best-quality expertise, markets and resources to the middle market,” Kline said. “Each organization brings unique capabilitiexs to our growing portfolio ofinsurance agencies, as well as dedicatedf employees who share our mission to provided outstanding service to our customers in California and throughout the Uniterd States.” Kline said the deal closed Thursdag afternoon.
Ascension is a full-service insurance and employee benefitw agency providing brokerageand risk-management services to middle-market companiess nationwide. Ascension has been a active in the mergersz and acquisition market sincew it was founded from scratch inAugus 2007, making . The company is assisted by funds from its private equity partners, and . The goal is to increasee the company’s annual revenue to $200 million withi the next five years.
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