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The Kansas City-based company boughr of Santa Monica, whicj specializes in development, placement and administration supporty of student healthinsurance programs; of Walnut Creek, which provides employee retirement services and HR outsourcing primaril for nonprofits; and Inc. of Agoura Hills, which specializezs in administration of studen thealth insurance, including intercollegiate sports injurg programs. Overall, the acquisitions will bring Ascension’s annual revenue to abouyt $75 million, ranking it amon the nation’s biggest 35 Ascension CEO Leonard Kline said inan interview. The companuy said it had $55 millioh in revenue in March, after its in Fort Fla.
Ascension now has more than 400 employees at 20 office locations nationwide. “The acquisitionse ... represent a valuable opportunity for us to expanc our West Coast operations and to fulfill our goal of providingtthe best-quality expertise, markets and resourcez to the middle market,” Kline “Each organization brings unique capabilities to our growinhg portfolio of insurance agencies, as well as dedicated employees who share our mission to provide outstanding service to our customers in California and throughougt the United States.” Kline said the deal closed Thursday afternoon.
Ascension is a full-servicw insurance and employee benefits agency providing brokerageand risk-managemengt services to middle-market companies nationwide. Ascensio n has been a active in the mergers and acquisition market sincre it was founded from scratch inAugust 2007, making . The companh is assisted by funds from its private equity and . The goal is to increase the company’sz annual revenue to $200 millionb within the next five years.
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