NU Online News Service, Jan. 5, 9:50 a.m. EST
Markel Corp. says it has completed its purchase of Thompson Insurance Enterprises (THOMCO).
THOMCO manages more than 20 national programs including medical transportation, senior living, child care centers, fitness clubs, pest-control operators, tanning salons and inflatable rental operators, among others.
The acquisition was originally announced early in December. Terms were not disclosed.
THOMCO's current chairman and president, Greg Thompson and Bob Heaphey, will continue to lead the Kennesaw, Ga.-based program administrator—which will exist as a separate business unit of Markel.
The merger was heralded by Davis Fulkerson, managing partner of Century Capital Partners, a private equity fund and minority investor in THOMCO.
In a statement, Fulkerson says Boston-based Century Capital Partners is “thrilled that THOMCO and Markel, two organizations with stellar reputations and complementary cultures, have been able to consummate this transaction.”
THOMCO has a network of 4,500 producers and has nearly 108 employees. Other than Kennesaw, the company has offices in Kansas City, Kan. and Denver.
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