Hub International to Acquire Steel City Agency
July 5, 2007– Hub International Limited announced
today that it has purchased Pueblo-based Steel City Agency (SCA). SCA’s four offices in
Colorado will expand the presence of Hub International Southwest (HUB Southwest) to
the Colorado Springs, Pueblo and Trinidad areas.
SCA is a leading insurance agency located in Southern Colorado and focuses on
manufacturing, construction, service and municipal clients, as well as risk management
services to both commercial and personal insurance clients and customers.
“SCA will provide a natural extension of our existing insurance operations within
Colorado,” said Roger Forystek, president of HUB Southwest. “It was a natural fit due to
their strong sales culture, key market relationships, common values, growth, leadership
and a culture of continuous improvement. This is a true partnership and we look forward
to bringing additional services and options to clients and business partners.”
“We are pleased that SCA, which was founded by my father, Damian Ducy, seventy-seven years ago and later managed by my husband, Bret Kelly, has teamed with HUB,”
said Patricia Kelly, board chairman of SCA. “Ralph Williams and Jerry Thomas will
continue in leadership roles, and equally important, this sale will provide continuity for
both employees and business partners.”
Dennis Flores, a long time executive and stockholder, also added that he is looking
forward to working as part of the HUB organization. “Hub Internationalís philosophy
lines up well with SCA Insurance in that we will continue to be involved in giving back
to the community and having a positive impact in the progress of Pueblo.”
Terms of the transaction were not disclosed.
Headquartered in Chicago, IL, Hub International Limited is a leading North American
insurance brokerage that provides a broad array of property and casualty, reinsurance, life
and health, employee benefits, investment and risk management products and services
through offices located in the United States and Canada.
Mystic Capital Advisors Group, LLC provided transaction advisory services to Hub
International. For more information on Mystic Capital, please contact Kevin P.
Donoghue at 212-251-0972 or visit www.mysticcapital.com
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