US-based Integrity Marketing Group has acquired life insurance distributor Theodore Group for an undisclosed sum to accelerate business expansion.
Founded in 2009, the acquired firm specialises in mortgage protection, final expense and advanced markets.
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The Florida-based insurance distributor, which serves thousands of clients, is expected to generate more than $15m in premium in 2021.
The acquisition is expected to accelerate Theodore Group’s momentum and will give access to Integrity’s proprietary technology, resources and support.
Under the arrangement, Nick Theodore and Cindi Theodore, CEO and COO of Theodore Group, respectively, will become the managing partners at Integrity.
Integrity co-founder and CEO Bryan Adams said: “The Integrity platform is tailor-made for agencies like Theodore Group. It’s a place where they can collaborate with other industry icons, share best practices and grow their business even faster.”
Theodore Group will leverage Integrity’s proprietary resources, which include CRM, market research capabilities, online quoting and data tools, and advertising and marketing firm to further its growth.
Nick Theodore said: “The ‘Integrity Effect’ for us means joining forces with a large company that shares the same values as we do, while still putting the client first every time.
“We’ve achieved record-breaking growth already, but we’re ready to add Integrity’s fuel to what we have built and double or triple in size from here.”
Theodore Group will leverage Integrity’s administrative infrastructure to centralise accounting, human resources, IT, product development and legal support.
Cindi Theodore added: “From the cutting-edge software to the marketing resources and back-office support, we can completely lean on Integrity to unleash the levels of success we know we’re capable of achieving.”
