InterWest Insurance Services has announced the acquisition of Placer Insurance Agency in Roseville. The transaction was finalized March 1, according to InterWest.
The acquisition marks Sacramento-based InterWest’s 11th office.
In February 2018, InterWest opened an office in Windsor at 810 DenBeste Court, Suite 105, and in July 2016, the brokerage bought EPIC Insurance Brokers & Consultants’ Petaluma branch office. Both transactions were previously reported in the Business Journal.
InterWest’s additional offices are located in Chico, Hollister, Marysville, Merced, Redding, Walnut Creek and Woodland. The agency states it employs a total of 340 people.
Placer, founded in 1886, specializes in commercial, surety bonds, employee benefits and personal insurance programs, and has a staff of 60, according to its LinkedIn profile.
InterWest Insurance Services has grown in size from $10 million in annual revenue when it was founded in 1992, to more than $70 million, according to its website.
According to InterWest’s announcement, “The two firms share a local market approach, good cultural fit and a long-standing commitment to protecting and serving their clients and giving back to their communities. InterWest is excited about the quality and expertise the Placer team brings to the organization, and has committed support and resources to build on their success and expand the footprint along the I-80 corridor and surrounding foothill areas.