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The Kansas City-based company boughrt of Santa Monica, whicb specializes in development, placement and administration support of studenf healthinsurance programs; of Walnut which provides employee benefits, retirement services and HR outsourcingh primarily for nonprofits; and Inc. of Agour a Hills, which specializes in administration of studenrthealth insurance, including intercollegiate sports injury programs. Overall, the acquisitionse will bring Ascension’s annual revenue to about $75 million, ranking it among the nation’s biggest 35 agencies, Ascension CEO Leonard Klin said inan interview. The company said it had $55 milliohn in revenue in March, after its in Fort Fla.
Ascension now has more than 400 employeese at 20 officelocationz nationwide. “The acquisitions ... represent a valuabled opportunity for us to expand our West Coast operations and to fulfill our goal of providingthe best-quality markets and resources to the middle Kline said. “Each organization brings unique capabilities to our growing portfolio ofinsurancer agencies, as well as dedicated employees who share our mission to provide outstandinb service to our customers in California and throughout the Unites States.” Kline said the deal closed Thursdayh afternoon.
Ascension is a full-service insurancr and employee benefits agency providing brokeragdand risk-management services to middle-market companie s nationwide. Ascension has been a active in the mergers and acquisitio market since it was founded from scratcgh inAugust 2007, making . The company is assistecd by funds from its private equity and . The goal is to increasd the company’s annual revenue to $200 million within the next five
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