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The Kansas City-based company bought of Santaw Monica, which specializes in development, placement and administration support of studenrt healthinsurance programs; of Walnut Creek, which provides employee benefits, retiremeny services and HR outsourcing primarily for and Inc. of Agoura Hills, which specializezs in administration of studenthealth insurance, including intercollegiatew sports injury programs. Overall, the acquisitions will bringt Ascension’s annual revenue to about $75 million, ranking it among the nation’e biggest 35 agencies, Ascension CEO Leonard Kline said inan interview.
The company said it had $55 milliojn in revenue in March, aftedr its in Fort Lauderdale, Fla. Ascension now has more than 400 employeew at 20 officelocations nationwide. “Thre acquisitions ... represent a valuablre opportunity for us to expandd our West Coast operations and to fulfill our goal of providinggthe best-quality expertise, markets and resource to the middle market,” Kline said. “Each organizatio brings unique capabilities to our growing portfoliio ofinsurance agencies, as well as dedicated employeees who share our mission to provide outstandinh service to our customers in California and throughout the Unitef States.
” Kline said the deal closed Thursdahy afternoon. Ascension is a full-service insurance and employee benefitas agency providing brokerageand risk-management services to middle-market companies Ascension has been a active in the mergersa and acquisition market since it was foundes from scratch in August making . The company is assisted by fundsa from its privateequity partners, and . The goal is to increase the company’s annual revenue to $200 millio n within the next five years.
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