San Francisco-based insurance broker Confie Seguros said it has acquired San Antonio-based auto insurance broker Alamo Auto Insurance. Terms of the deal were not released.
Alamo Auto Insurance expands Confie Seguros’ presence beyond its base in California. The company said it is continuing its pace toward building the leading national insurance distribution company focused primarily on the needs of Hispanic consumers. Alamo adds an additional 60 employees and eight locations to Confie’s 750 employees and now nearly 90 locations.
Confie Seguros is a portfolio company of San Francisco-based private equity firm Genstar Capital. The firm is building a national distribution company focusing on eight to 10 of the most densely populated Hispanic market including California, Arizona, Florida, Texas, Illinois and Nevada.
The firm also named Peter Gomez as senor vice president to lead the Texas expansion. He has over 12 years experience running large non-standard auto insurance retail brokerages in Texas, Illinois and California.