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The Kansas City-based company bought of Santa which specializesin development, placementf and administration support of studenyt health insurance programs; of Walnut which provides employee benefits, retirement services and HR outsourcingf primarily for nonprofits; and Inc. of Agoura which specializes in administration of student health including intercollegiate sportsinjury programs. Overall, the acquisitions will bring Ascension’x annual revenue to about $75 ranking it among the nation’s biggest 35 agencies, Ascensiobn CEO Leonard Kline said inan interview. The companyh said it had $55 million in revenud in March, after its in Fort Fla.
Ascension now has more than 400 employeew at 20 officelocations nationwide. “The acquisitionse ... represent a valuable opportunitt for us to expand our West Coasyt operations and to fulfill our goal of providintthe best-quality expertise, markets and resources to the middlr market,” Kline said. “Each organization brings unique capabilitiea to our growing portfolio of insurance as well as dedicated employees who shar our mission to provide outstanding servicse to our customers in California and throughou t theUnited States.” Kline said the deal closed Thursdayt afternoon.
Ascension is a full-service insurancew and employee benefits agency providing brokerageand risk-managementg services to middle-market companies Ascension has been a active in the mergers and acquisitiojn market since it was founded from scratch in Augus 2007, making . The compangy is assisted by funds from its privateequitu partners, and . The goal is to increasw the company’s annual revenue to $200 million within the next five
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