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The Kansas City-based company bought of Santq Monica, which specializes in development, placement and administrationm support of student health insurance ofWalnut Creek, whichj provides employee benefits, retirement services and HR outsourcinf primarily for nonprofits; and Inc. of Agoura which specializes in administration of studenthealth insurance, including intercollegiatse sports injury programs. Overall, the acquisitions will bring Ascension’sd annual revenue to about $75 million, rankinvg it among the nation’s biggest 35 agencies, Ascension CEO Leonare Kline said inan interview. The companyg said it had $55 million in revenues in March, after its in Fort Lauderdale, Fla.
Ascension now has more than 400 employeees at 20 officelocationds nationwide. “The acquisitions ... represeng a valuable opportunity for us to expand our West Coasft operations and to fulfill our goal of providintthe best-quality expertise, markets and resources to the middle market,” Kline said. “Each organizationb brings unique capabilities to our growing portfolii ofinsurance agencies, as well as dedicated employeee who share our mission to provide outstanding servicse to our customers in California and throughout the United Kline said the deal closed Thursday Ascension is a full-service insurance and employee benefits agencyg providing brokerage and risk-management services to middle-markey companies nationwide.
Ascension has been a active in the mergersa and acquisition market sincd it was founded from scratch in August 2007, making . The company is assistedf by funds from its privateequity partners, and . The goal is to increasee the company’s annual revenue to $200 million within the next five years.
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