Michelman & Robinson Represents Confie Seguros in the Acquisition of the Retail Agency Group of Affirmative Insurance Holdings, Inc.PDF
Michelman & Robinson, LLP's ("M&R") Corporate & Securities Department successfully represented Confie Seguros, a leading national insurance brokerage and insurance distribution company, in the acquisition of the Retail Agency Group of Affirmative Insurance Holdings, Inc. (OTC: AFFM) on September 30, 2013.
The transaction, valued at up to $120 million, is the result of negotiations on behalf of the firm’s longtime client and serves to further strengthen Confie’s operations by expanding the company’s geographic footprint to an additional 195 retail locations in the Midwest and Southeast U.S.
Confie Seguros CEO Joe Waked commented, "We are grateful for the work that Doug and the entire Michelman & Robinson team did on this complex transaction, which expands our national footprint and consumer base. This strategic acquisition significantly increases our reach and transforms us into the largest non-captive distributor of retail auto insurance in the U.S."