Brown & Brown strikes M&A deal in Tennessee
Independent insurance intermediary Brown & Brown’s Tennessee subsidiary has acquired all of the assets of Nashville-based Spann Insurance Agency.
Following the transaction, Spann will transition into Brown & Brown’s profit center in Brentwood, Tennessee, which operates under the direction of John Esposito, regional president of Brown & Brown.
“Jack and Lee, along with their mother Gwen, and son, John, have successfully lead an agency with a 65-year history in Nashville,” said Esposito. “We are excited to have the opportunity to bring broader insurance solutions to all of the Spann clients while bringing the strength of the Spann team to our Nashville office, led by Ryan Rothrock.”
Spann, which provides insurance solutions for business and individual clients, has annual net revenues of approximately $3 million.
“Becoming part of the Brown & Brown team will provide our loyal clients and dedicated staff additional resources and new exciting options that we otherwise would not be able to offer,” Spann commented. “We are impressed how Brown & Brown maintains the same family atmosphere and professional, personal service that has always been our mission.”
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