![](https://www.lifeinsuranceinternational.com/wp-content/uploads/sites/8/2024/08/acquisition-shutterstock_2331756469.jpg)
US insurance intermediary PCF Insurance Services has continued its dealmaking spree with the acquisition of the insurance business of DLD Insurance Brokers.
Financial terms of the transaction were not disclosed.
This move is part of PCF’s strategy to grow through M&A, aiming to add significant value to its earnings before interest, taxes, depreciation and amortisation (EBITDA) by the end of the year.
DLD Insurance Brokers, established in 1989 and based in Irvine, California, adds to PCF’s expertise in managing risks for companies with multibillion-dollar portfolios in construction, real estate, manufacturing, medical devices and technology.
PCF said that by leveraging its broader market access and in-house capabilities, DLD’s team can enhance its risk management services for clients.
The acquisition of DLD’s insurance business marks PCF’s ninth transaction in 2024.
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By GlobalData
PCF aims to boost its EBITDA by $50m through M&A by the end of the year and plans to double its company size within the next five years.
To achieve this, the company is actively expanding its M&A pipeline with acquisitions that enhance its core property and casualty and health and benefits business in key markets.
These acquisitions are designed to strengthen PCF’s in-house expertise in risk management and loss control within emerging industries, while ensuring sustained, long-term profitability.
PCF CEO Felix Morgan said: “DLD represents the ideal acquisition that aligns with our M&A strategy. Their team has served as trusted advisors for decades by bringing robust experience and knowledge in helping mitigate increasingly complex risks, specifically for the construction and real estate sectors. Their specialisation in these industries adds to our own bench strength and aligns with our core business.”
Last month, the company purchased Texas-based insurer Montalvo Insurance Agency.
In June, PCF acquired four companies – Ignitist in Pennsylvania, the Brady Agency in North Carolina, Roseberry Insurance Agency in Mississippi and the Sinnott Agency in Iowa.