Insurance brokerage Brown & Brown, Inc. has announced that it has entered into an agreement to acquire VAS Inc. and its affiliated companies.
VAS is made up of Vehicle Administrative Services, LP, SafeRide Motor Club, Inc. and other related affiliates, and is owned by Bill Breindel.
The transaction is expected to be finalised in October, although it is subject to certain closing conditions.
The VAS team will continue to operate from VAS headquarters in Texas, led by Breindel. Following the acquisition, Breindel will report to Mike Neal, President of Brown & Brown Dealer Services.
Neal commented: “Bill has over 35 years of experience in managing and refining roadside assistance and other vehicle protection products that complement products offered by VAS clients.
“The VAS team’s focus on customer service, compliance and development of new protection products is consistent with the customer first values of Brown & Brown Dealer Services. We, at BBDS, look forward to partnering with Bill and the VAS team as we continue to provide innovative solutions for our collective customers.”
Breindel added: “We are excited to join Brown & Brown Dealer Services. We are being given the opportunity to grow our business under the Brown & Brown umbrella while maintaining a high level of performance for our customers.
“I have known the BBDS team for many years and have watched them grow as an innovating force in the MGA and automotive business. We look forward to adding to the financial success of Brown & Brown and to participating in the culture and values of Brown & Brown that we at VAS share.”