Denver-based independent insurance agency Cherry Creek Insurance announced today that it has acquired Hanes Hathaway Inc., a specialty agency focusing on coverage for technology related firms.

No financial terms were disclosed.

In acquiring the Missoula, Mont.-based firm, Cherry Creek said it will add a wide range of middle-market technology clients, along with Hanes Hathaway Inc. founder Katie Casson Matthias.

Ms. Matthias, said Cherry Creek, brings more than 20 years experience in the insurance field and will specialize in the technology and entertainment industries and position Cherry Creek Insurance for technology sector growth.

The announcement marks the second acquisition for Cherry Creek in the past three months. In May, Cherry Creek announced it had acquired Denver-based Gaspar-Jones and Associates, creating a combined staff of 55 that service more than 8,000 clients.

Since 1986, Cherry Creek Insurance said it has designed and delivered commercial and personal insurance solutions to a range of companies including law firms, dental operations, professional groups, elderly care facilities, hotels, franchise businesses, educational institutions, entertainment companies, restaurants and manufacturers.

Brook Mahoney, Cherry Creek founder and chief executive officer, said, “The addition of Katie Casson Matthias and her clientele of technology companies builds great momentum as we continue strategic acquisitions of independent agencies around the country.”

“Katie is a top-notch salesperson, and we welcome her to our growing team as our in-house technology expert,” said Mr. Mahoney, noting that he plans to add current Cherry Creek Insurance Agency employees to her team as part of a newly created technology division.

Cherry Creek's announcement said that at Hanes Hathaway Inc., Ms. Matthias had assembled a team and developed a unique iTechAudit process, which offers technology firms a comprehensive plan review process.

The firm said iTechAudit was created to provide technology companies that operate in a changing environment with a comprehensive risk assessment and recommendations for legal, financial and insurance solutions.

Cherry Creek said its annual sales exceed $50,000,000. Hanes Hathaway Inc. provides technology firms with comprehensive commercial coverage.

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Cherry Creek Agency Buys Hanes Hathaway

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