Mystic Capital guides Western Assurance, Inc – a top 10 New Mexico retail insurance brokerage, in its sale to HUB International Limited.
Overview of Transaction
- Founded in 1966, Western Assurance is a full-service, retail insurance agency located in Albuquerque, New Mexico. The agency specializes in the nonprofit sector and the construction and transportation industries and is one of the largest independent retail agencies in New Mexico.
- Western decided to partner with Hub International, a top-5 global insurance brokerage based out of Chicago, Illinois.
Significance of Transaction
- The new investment will be used to accelerate HUB’s specialty expansion, further develop its product offerings, and boost its partner strategy to strengthen its position as one of the most comprehensive full-service insurance and risk management solutions in New Mexico.
- Western Assurance will have access to a deeper and broader suite of resources and distribution channels; paving a long runway for growth.
Mystic Capital’s Role
- Mystic Capital was chosen by Western Assurance to serve as its exclusive financial and strategic advisor. Through close collaboration, a variety of different scenarios were explored before culminating with a partnership with HUB International.
- Having worked with HUB previously, this transaction highlights Mystic Capital Advisors Group’s deep domain expertise, as well as its strong relationship with top-tier insurance investors.
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