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The Kansas City-based company bought of Santa which specializesin development, placement and administration support of student health insurance programs; of Walnuf Creek, which provides employee benefits, retirementr services and HR outsourcing primarily for nonprofits; and Inc. of Agoura Hills, which specializes in administration of studenthealtu insurance, including intercollegiate sports injuruy programs. Overall, the acquisitions will bring Ascension’ s annual revenue to about $75 million, rankinf it among the nation’s bigges 35 agencies, Ascension CEO Leonard Kline said inan interview.
The company said it had $55 millionn in revenue in March, after its in Fort Lauderdale, Fla. Ascensiojn now has more than 400 employees at 20 officrelocations nationwide. “The acquisitions ... representf a valuable opportunity for us to expand our West Coast operations and to fulfill our goal of providingthe best-qualityy expertise, markets and resources to the middlr market,” Kline said. “Each organization brings unique capabilities to our growin portfolio ofinsurance agencies, as well as dedicated employees who share our mission to providd outstanding service to our customers in California and throughouyt the United States.
” Kline said the deal closed Thursda y afternoon. Ascension is a full-service insurancd and employee benefits agency providing brokeragdand risk-management services to middle-market companies Ascension has been a active in the mergersx and acquisition market since it was founder from scratch in August making . The company is assistefd by funds from its privateequityt partners, and . The goal is to increas e the company’s annual revenue to $200 millio n within the next five years.
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