BlogsCentennial Joins 23 U.S. Employee Benefits, Property/Casualty, Risk Management and Wealth Management
January 4, 2017, by Ryan Miller
For Alera: Jessica Tiller, Weiss PR, Inc.
For Genstar: Chris Tofalli, Chris Tofalli Public Relations, LLC
For Centennial: Ryan Miller
Phone: (714) 740-1111
A historical M&A deal brings national insurance and financial services resources to local clients!
Costa Mesa, California (1/4/17) The Centennial Group has joined 23 other entrepreneurial insurance and financial services companies across the United States to form Alera Group, an employee benefits, property/casualty, risk management and wealth management firm with approximately $158 million in revenue. The new firm has more than 750 employees serving more than 20,000 clients in 40 U.S. based offices across 15 states. This merger marks the first time that 24 financial services firms have joined together as one.
Centennial will continue to offer employee benefits and wealth management services, now with an extensive network of national resources and thought leadership. All of Centennial’s employees and advisors will continue to operate as Centennial out of the firm’s existing offices. It will continue to be led by Matthew Hanson, President and CEO.
“Over the past several years, we have witnessed the changing needs of our clients and an industry slow to respond. The newly formed Alera Group will focus on providing an exceptional experience for our clients.” said Alan Levitz, president and CEO of Alera Group. “The specialties and unique value propositions within each of these 24 hand-picked firms that make up the Alera Group complement each other. We will leverage these resources and thought leadership on both the local and national levels to set a new standard for the client experience.”
“This new partnership will allow Centennial to elevate its client services, grow its expertise and offer more thought leadership to the local market—all while staying true to our cornerstones of being trusted advisors in our community,” said President, Matthew Hanson. “We are thrilled to be a part of history, as we join Alera Group with like-minded firms that are dedicated to an exceptional client experience.”
With investment from Genstar Capital, LLC, a leading middle market private equity firm, and brokerage assistance from consulting and investment banking firm Marsh, Berry & Company, Inc., Alera Group will become the 14th largest privately held insurance firm and 7th largest privately held employee benefits firm nationally. Industry veterans Alan Levitz, Peter Marathas and Rob Lieblein will be serving in key leadership roles within Alera Group. The trio brings a combined 75 years in the insurance and financial services industry to the new organization.
Terms of the transaction were not disclosed.
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About The Centennial Group
Centennial is an employee benefits and wealth management firm in Orange County, California. It is the mission of Centennial to create value for employers by providing services that represent their benefit philosophies and financial objectives. We achieve this by building relationships based on long-term loyalty and trust. We put our clients' interests first and are generous with our time, talent and resources.
About Alera Group
Based in Deerfield, IL, Alera Group has more than 750 employees serving more than 20,000 clients nationally in employee benefits, property and casualty, risk management and wealth management. Alera Group was created by the merging of 24 high-performing, entrepreneurial firms across the United States and is the nation’s 14th largest independent insurance agency and the 7th largest independent employee benefits firm. For more information, visit www.aleragroup.com or follow Alera Group on Social Media: @AleraGroupUS
About Genstar Capital
Genstar Capital is a leading private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating executives and strategic advisors to transform its portfolio companies into industry leading businesses. Genstar manages funds with total capital commitments of over $5 billion and targets investments focused on selected sectors within the financial services, industrial technology, software and healthcare industries. For more information, visit www.gencap.com.