Ontario, Ca. Alpha Risk Insurance Services acquired Pacific Way Insurance Services in Ontario, California on June 20th, terms of the transaction were not disclosed.
Pacific Way www.pacificway.net was founded in 2004 by Karen Cancilla as a small Commercial Lines Agency. Pacific Way is a diversified book of Commercial Lines Business with approximately 10% in Personal Lines. The agency grew to over 500 clients in just 4 years with consistent year over year growth. Karen Cancilla explained “The success of Pacific Way Insurance Services is due to the procedures in place which will undoubtedly help with the continued growth for the new owner. I am extremely grateful to all the agents and staff members who supported Pacific Way through this amazing time.”
Alpha Risk Insurance Services was started by Roobik Galoosian in 2008. Alpha Risk completed this acquisition in order to achieve their growth goals for 2008 and beyond. Mr. Galoosian said “I look forward to growing Pacific Way by adding to its insurance product offering as well as providing risk management services to our commercial policyholders.”
Ganis Consulting www.ganisco.com a Los Angeles based Insurance Consulting firm that specializes in selling insurance agencies brought the parties together and assisted in closing the transaction. “We’d like all Insurance Agency Owners to know that if they want to sell or are considering selling in the next year to give us a call”.
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