United Valley Insurance Services and Leavitt Group Enterprises have agreed, subject to applicable conditions, to a merger in which UnitedValley remains a separate organization that is wholly-owned by Leavitt Group Enterprises. United Valley shareholders will receive cash in the merger. Closure is anticipated in August.
Mike McCreary, President of United Valley, who is expected to serve on Leavitt Group Enterprises’ board of directors, says of the merger: “ UnitedValleyis a great company that serves its members and customers well. We will only get better with this merger. The current management team and employees continue without interruption, and we will enjoy the added strength and services available through the Leavitt Group.”
Eric Leavitt, President of Leavitt Group Enterprises, comments: “Our acquisition of UnitedValley represents a new chapter for the Leavitt Group. In the past, we have only served agencies in which we owned a majority interest. Through UnitedValley, we will be able to serve other independent agencies in ways that will make them stronger. We are confident we will provide great benefit to UnitedValley’s current and future members.”
Dane Leavitt, Leavitt Group Enterprises’ CEO and Chairman, anticipates that “the merger will make both companies stronger. United Valley members receive a committed, stable owner, and access to new services. The Leavitt Group achieves additional scale, and a broadened set of relationships with high quality independent insurance agencies.”
Neal Stanley, UnitedValley’s Chief Operating Officer, notes that “with the Leavitt Group’s support, I expect UnitedValleyto grow its footprint significantly over the next several years. This merger well serves our shareholders, members and employees. We look to the future with considerable optimism.”
United Valley was started in 1983 in Californiaas a local, Central Valley insurance agency membership organization with seven member agencies. It has since grown to over 80 members in California, Arizonaand Nevada. Most of UnitedValley’s members are owned independent of UnitedValley, but place a majority of their risks through UnitedValley’s insurer relationships.
Leavitt Group Enterprises, founded in 1952, builds, serves and perpetuates independent insurance agencies as a majority owner that partners with able individual co-owners. The Leavitt Group currently consists of over 70 separate insurance agencies with over 125 offices located in 15 states.