Besnard Insurance - Mergers
INTERVIEW WITH A PARTNER
What made you consider partnering with Besnard? Adam and his team were very honest and responsive from our initial conversation to the closing. I never felt pressured during the process. Several years later, do you feel satisfied with your decision to team up with Besnard Insurance? Teaming up with Besnard proved to be the most advantageous choice I made for both my agency and myself. By harnessing Besnard’s capabilities and resources, we managed to double agency revenue within 1.5 years and triple agency revenue in just 2.5 years. On a personal note, this achievement resulted in me being granted a compensation package that aligned with my compensation prior to the merger. What made the biggest impact on you during the transition process? Besnard Insurance made my people a priority during the transition. My people are my “secret sauce” and I consider them family. Seeing Besnard Insurance focus on them as much as me during the transition put me at ease.
What did you like best about working with Besnard? My favorite part of partnering with Besnard Insurance was the flexibility it afforded me and my agency. I was able to keep my company name, where I remained the “face” of my agency and aligned on an employment timeline that worked for me. Did you have any mergers/ acquisitions experience prior to this deal? I was brand new to the process and had a million questions. The Besnard Insurance team was always there to answer questions, but they took it an extra step, explaining the answers and giving me the heads up of what to look for and potential concerns that should be addressed with my attorney or CPA.
What was the negotiation process like?
I knew it was a negotiation, but I never felt like it was me versus them. Trust is more important than anything during the process. Ultimately, I trusted Adam and his team, and this was what provided me comfort to move forward.
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