Jacksonville-based Brightway Insurance announced Sept. 3 it acquired GlobalGreen Insurance Agency, increasing the total size of its business to more than $1.7 billion in annual written premiums.
Brightway says GlobalGreen is a multistate franchise network of independent insurance agencies with about $270 million in annual written premiums. It offers home, auto, business, life, disability and long-term care insurance.
In a news release, Brightway CEO Nick Clements said the acquisition was part of a plan to “accelerate our geographic expansion and growth.”
“This partnership enables GlobalGreen agency owners to leverage our significant technology investment in Fusion, Brightway’s proprietary AI-enabled technology platform, as well as access our industry-leading client support teams and tools, and community of successful agency owners,” Clements said.
Founded in 2007, GlobalGreen is headquartered in Chesterfield, Missouri, west of St. Louis.
“I feel that this partnership delivers greater value and operational strength to our franchise owners while allowing them to stay true to offering the local expertise and personal touch their customers have come to expect,” GlobalGreen CEO Jeffrey Wilson said.
Dowling Hales was financial adviser and UB Greensfelder LLP served as legal adviser to GlobalGreen, the release said.
Piper Sandler acted as financial adviser and Davis Polk & Wardwell LLP served as legal adviser to Brightway.
Terms of the transaction were not disclosed.
Brightway was founded in 2008 in Jacksonville by Michael and David Miller. In 2021, private equity firm GrowthCurve Capital acquired a majority interest in the company.
Brightway says it has more than 300 franchise locations in 35 states
The company recently moved into its new headquarters at 5011 Gate Parkway in South Jacksonville.