On this episode of Agency Nation Radio, Peter van Aartrijk, executive vice president with insurance branding firm Aartrijk, hosts a discussion on best practices when making an agency acquisition.
On this episode of Agency Nation Radio, Peter van Aartrijk, executive vice president with insurance branding firm Aartrijk, hosts a discussion with Ryan Towle, vice president of Davis & Towle Insurance Group in Concord, New Hampshire, and Keith J. Mangini, vice president and commercial team leader at InsurBanc in Farmington, Connecticut, on best practices when making an agency acquisition—whether it’s your first purchase or just your most recent acquisition.
They discuss the first steps you should take when considering an agency acquisition opportunity and what to do as a buyer to prepare for financing from a lender. They end with their final thoughts on what to keep in mind after closing on an acquisition.
"We talk about multiples all the time. But if it's a multiple of revenue, or if it's a multiple of EBITDA, if it's 3 times revenue or 4 times revenue, what are you willing to pay for? And why might you be willing to pay up a little bit?" Mangini said, referring to the intangible value of an acquisition, such as talent, carrier synergies and more.
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