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The Kansas City-based company bought of Santa Monica, whicu specializes in development, placemengt and administration support of student healthinsurance programs; of Walnug Creek, which provides employee benefits, retirement servicees and HR outsourcing primarily for nonprofits; and Inc. of Agours Hills, which specializes in administration of student health including intercollegiate sportsinjury programs. the acquisitions will bring Ascension’s annuap revenue to about $75 million, ranking it among the nation’s biggesft 35 agencies, Ascension CEO Leonard Kline said in an The company said ithad $55 millionn in revenue in March, after its in Fort Fla.
Ascension now has more than 400 employeesz at 20 officelocations nationwide. “The acquisitionas ... represent a valuable opportunity for us to expand our West Coast operations and to fulfill our goal of providing the best-quality expertise, markets and resourcesx to the middle market,” Klines said. “Each organization brings unique capabilitiews to our growing portfolio ofinsurance agencies, as well as dedicateed employees who share our missio n to provide outstanding servicee to our customers in California and throughout the United Kline said the deal closed Thursday Ascension is a full-service insurance and employee benefits agenc y providing brokerage and risk-management servicesx to middle-market companies nationwide.
Ascension has been a activd in the mergers and acquisition market since it was foundee from scratch inAugust 2007, makin g . The company is assisted by funds from its privaterequity partners, and . The goal is to increaser the company’s annual revenue to $200 million within the next five years.
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