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Warner Pacific Buys Senior Health Firm in Latest PE-Fueled Insurance Play
Warner Pacific acquires Oklahoma-based Local Insurance Advisors.
Key Points
- Warner Pacific acquires Oklahoma-based Local Insurance Advisors to expand its footprint in the Midwest senior health insurance market.
- The deal is part of a private equity strategy, backed by Lovell Minnick Partners, to build a national platform by acquiring regional specialists.
- Local Insurance Advisors' founders will remain as Regional Vice Presidents to lead the company's growth in the region.
Warner Pacific has acquired Oklahoma-based Local Insurance Advisors (LIA), a firm specializing in the senior health market, in a deal announced Friday. The move is part of a private equity-backed strategy to consolidate smaller, regional players.
Planting a flag: The deal gives Warner Pacific a stronger foothold in the Midwest and provides crucial expertise to tap into the region's lucrative senior market. Co-CEO John Nelson called the acquisition a "strategic expansion" that improves the company's ability to serve individuals navigating Medicare.
The PE playbook: This move is part of a wider private equity strategy where investors like Lovell Minnick Partners back larger firms to snap up regional specialists, effectively building a national powerhouse through targeted acquisitions.
Keeping the founders: LIA founders Tom Mays and Travis Branch will stay on as Regional Vice Presidents to lead growth. Mays said joining Warner Pacific allows them to "bring that mission to a larger audience and accelerate our impact nationwide."
This acquisition isn't just about growth; it's a calculated move to corner a high-demand market by buying local expertise and bolting it onto a national platform.
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