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Heffernan Network Insurance Brokers Acquires Barbary Insurance Brokerage

Jun 27, 2023•about 2 years ago

Acquiring Company

Heffernan Network Insurance Brokers

Acquired Company

Heffernan Network Insurance Brokers

InsuranceEmployee BenefitsInsuranceEmployee Benefits

Description

Heffernan Network Insurance Brokers, a subsidiary of Heffernan Insurance Brokers providing market access and support services to local insurance agencies, has acquired Barbary Insurance Brokerage headquartered in Oakland, Calif. Founder and president, Jerry Becerra, joined Heffernan Network, along with five of his team members, effective May 1, 2023.

Company Information

Company

Heffernan Network Insurance Brokers

About

Heffernan Network Insurance Brokers, Inc., formed in 2017, helps small independent agencies grow by providing exceptional market access, new business fulfillment, back-office support, and technology solutions to help improve efficiency as well as initiate revenue streams outside their core competencies (i.e. employee benefits, life insurance, personal lines, and property & casualty). For those agents nearing retirement, HNIB also offers an exit strategy solution. For more information, visit HeffNetwork.com License #0L59890 SOURCE Heffernan Network Insurance Brokers

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed