Wallace Welch & Willingham Completes Acquisition Of Al Malins Insurance
Sarasota based Al Malins Insurance to Continue under New Ownership.
- Tampa-St. Petersburg-Clearwater, FL (1888PressRelease) December 19, 2013 - Wallace Welch & Willingham (WWW) is pleased to announce the acquisition of Al Malins Insurance, an independent agency based in Sarasota, Florida. With this acquisition, made final on December 16, 2013, WWW continues to exceed its growth objectives.
Al Malins Insurance, also known as Able Auto Insurance, was founded in 1984 and specializes in personal and business insurance. The agency has approximately 10 employees and 5,000 clients. It will continue to operate as a separate entity with its current staff. Keith Gramling, WWW's President, stated, "Establishing a local presence for our customers and other relationships in the Sarasota County community is important to us. We are viewing this opportunity as a new beginning for our stakeholders."
The decision was made to run the companies as separate entities due to the differences in marketing and customer base. Walt Grayson, WWW's Chief Operation Officer, stated, "Not all customers want the same type of service and delivery. You cannot function in different segments of the market with a one-size-fits-all business model. We want Al Malins Insurance available to a different niche of the market than currently occupied by Wallace Welch & Willingham."
The founder of Al Malins Insurance, Al Malin, was looking to retire while preserving the company he built. This acquisition was a perfect fit for WWW with the agency's ownership being internally perpetuated while maintaining steady goals for growth. WWW is a melding of 24 agencies that have merged or have been acquired over the last 88 years. This recent acquisition marks the second in just two calendar years. In March of 2012, WWW expanded the agency's nonprofit division by acquiring a large book of business from a publicly held insurance agency. Gramling stated, "WWW has a long history, dating back to 1925, of providing regional superior customer service through growth plans such as this. This acquisition could also create employment and career advancement opportunities through WWW."
Founded in 1925, Wallace Welch & Willingham is an independent insurance agency with a rich history of providing quality service and unwavering commitment to its clients and community. The agency represents an extensive list of "A rated" insurance companies to provide the best coverage, at the most affordable rates available. Wallace Welch & Willingham has insurance products to fit the specific needs of businesses and individuals, offering commercial, homeowners, auto, boat and life insurance, as well as employee benefits coverage. For more information, call (727) 522-7777 or visit www.w3ins.com.
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