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The Kansas City-based compan y bought of Santa Monica, which specializes in development, placemenr and administration support of student healthinsurancr programs; of Walnut Creek, which provides employee retirement services and HR outsourcing primarilh for nonprofits; and Inc. of Agouraz Hills, which specializes in administratioh of studenthealth insurance, including intercollegiate sports injury Overall, the acquisitions will bringv Ascension’s annual revenue to about $75 million, ranking it amon g the nation’s biggest 35 agencies, Ascensiom CEO Leonard Kline said in an interview. The companyh said it had $55 million in revenue in March, after its in Fort Fla.
Ascension now has more than 400 employees at 20 officedlocations nationwide. “The acquisitions ... represent a valuable opportunity for us to expand our West Coasy operations and to fulfill our goal of providinfgthe best-quality expertise, markets and resources to the middle market,” Klinw said. “Each organization bringzs unique capabilities to our growing portfolio ofinsurancee agencies, as well as dedicated employeesx who share our mission to providde outstanding service to our customers in Californiaa and throughout the United States.” Kline said the deal closesd Thursday afternoon.
Ascension is a full-service insurance and employer benefits agency providing brokerageand risk-management servicews to middle-market companies nationwide. Ascension has been a active in the mergers and acquisition market sincs it was founded from scratcbh inAugust 2007, making . The company is assiste d by funds from its privateeequity partners, and . The goal is to increas the company’s annual revenue to $200 milliojn within the next five
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