PCF Insurance Services, a large brokerage firm in Utah, has acquired Zinc, a commercial insurance agency based in Solon.
Terms were not disclosed.
Zinc, founded in 2008, specializes in insurance and risk management services for the trucking, construction, contracting and motorsport industries, according to a press release from Lehi-based PCF. , Utah, announcing the deal.
The statement did not provide Zinc’s employee count or annual revenue, and a spokeswoman did not immediately return an email Thursday morning, July 28. The staff page on Zinc’s website lists 14 people. Zinc describes itself as an agency that “builds a new way of working with and for people, powered by a business philosophy rooted in art, chemistry and technology”. (Read more about that here.)
Peter C. Foy, President, Founder and CEO of PCF, said in a statement that Zinc “is based on an innovative, technology-driven business model offering complete transparency, high marketing performance and the ability to connect with their customers and operators, all being well aligned with PCF’s partner-centric culture.”
Seth Zaremba, founder and director of Zinc, said the deal will allow the business to continue a growth trajectory that began 14 years ago when he was selling insurance from a small office in Solon.
“We built Zinc to future-proof from day one,” Zaremba said. “We continually invest in the business because we want to be an attractive option for the people who have helped build us and who will increase our value for customers and accelerate growth. PCF will allow me to continue to grow and do part of something incredibly bigger. with great people.”
PCF, which describes itself as “one of the top 20 US brokers”. has more than 2,500 employees nationwide. This list from the Insurance Journal of the 100 largest independent property and casualty insurance agencies in the United States places PCF at 20th, with revenues of $176 million in 2020.