Money closes the deal, but finding a partner to make an acquisition or merger work often comes down to feeling comfortable. That comfort level is as important to the acquired firm as it is to the acquirer, especially if the acquisition becomes a long-term partnership.
For Dean Hayes, one of the owners of Banks-Moneyhan-Hayes Insurance Agency in Atlanta, the idea of being acquired was far from his mind until an officer from Main Street Insurance Services Inc.–a subsidiary of Main Street Bank Inc., based in Atlanta–suggested the idea.
“We were not really looking,” said Mr. Hayes. “But the more we talked, the more it made sense. There is strength in numbers. It makes the carriers happy and it gives us volume.”
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