MarshBerry Represents Cadence Insurance on its Partnership with Arthur J. Gallagher & Co.
Woodmere, Ohio, October 26, 2023 – MarshBerry, a leading investment banking and consulting firm serving the insurance distribution and wealth management industries, is pleased to announce that it served as an advisor to Cadence Insurance, Inc. (Cadence) on their sale to Arthur J. Gallagher & Co.
Cadence, a subsidiary of Cadence Bank, is the second largest bank-owned insurance broker in the U.S. and has risen to be one of the Top 50 largest brokers of U.S. business according to Business Insurance. MarshBerry served as a co-financial advisor to Cadence. The transaction was announced on October 24, 2023, and is expected to close in the fourth quarter 2023, subject to customary closing conditions.
Founded in 1876, and based in Baton Rouge, LA, Cadence provides services in the commercial property, constructions, oil and gas, manufacturing, professional services, health care, and religious/non-profit sectors across more than thirty offices in the south and southeast.
“It’s an honor to represent our client of almost two decades in this pivotal transaction. Our longstanding relationship speaks volumes about the trust and mutual understanding that has been built over the years,” said John Wepler, MarshBerry Chairman & CEO. “Guiding them through this strategic move is a testament to the deep-rooted trust and confidence they have in our advisory expertise. Knowing and understanding their strategic objectives, we were able to help them maximize the value of this transaction and ensure their future success. Once again, MarshBerry’s unique value proposition allows us to help firms of any size and composition grow and evolve their business and choose the path that’s right for them. We are excited for the future of both of these firms.”
MarshBerry’s transaction team included John Wepler, Brian Ambrosia – Director, Dan Skowronski – Managing Director, Graham Gould – Vice President, and Connor Meehan – Associate. Terms of the transaction were not disclosed.
MarshBerry remains the number one sell side advisor for insurance agencies and brokerages and retains its position as the industry leader for total number of clients advised. Since 1999, MarshBerry has advised on more than 1,100 merger & acquisition transactions which is approximately 25% of the total announced transactions reported by S&P Global Market Intelligence that involved an advisor.
MarshBerry – Helping Clients Learn, Improve & Realize Value
Founded in 1981, MarshBerry is a global leader in financial advisory and consulting services serving the insurance brokerage and wealth management industries to help clients grow and advance their business strategies. With locations across North America and Europe, MarshBerry market sector expertise includes property and casualty agents & brokers, employee benefit firms and specialty distributors, partners in insurtech, capital markets, and insurance carriers, as well as registered investment advisors, retirement planning and life insurance firms. Clients choose MarshBerry as their trusted advisor for every stage of ownership to help them build, enhance and sustain value through Financial Advisory solutions (Investment Banking; Merger & Acquisition Advisory, Debt & Capital Raising, Business Consulting), Growth Advisory solutions (Organic Growth, Aggregation, Leadership, Sales & Talent Solutions) and Market Intelligence and Performance Benchmarking. Learn more at www.MarshBerry.com.
About Cadence Insurance
Cadence Insurance is the second largest bank-owned insurance broker in the nation and is in the top one percent of brokers in the U.S based on total revenue. From small companies to organizations with more than 10,000 employees, Cadence Insurance delivers the highest standard in brokerage services. The agency has become an industry leader in commercial insurance, surety, employee benefits and private client brokerage services by investing in technology and human capital to expand service offerings and create a competitive advantage for clients.
About Cadence Bank
Cadence Bank (NYSE: CADE) is a leading regional banking franchise with approximately $50 billion in assets and over 350 branch locations across the South and Texas. Cadence provides consumers, businesses and corporations with a full range of innovative banking and financial solutions. Services and products include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and business banking, treasury management, specialized lending, asset-based lending, commercial real estate, equipment financing, correspondent banking, SBA lending, foreign exchange, wealth management, investment and trust services, financial planning, and retirement plan management. Cadence is committed to a culture of respect, diversity and inclusion in both its workplace and communities. Cadence Bank, Member FDIC. Equal Housing Lender.
Investment banking services offered in the USA through MarshBerry Capital, LLC., Member FINRA Member SIPC and an affiliate of Marsh, Berry & Company, LLC, 28601 Chagrin Blvd., Suite 400, Woodmere, OH 44122 440.354.3230.
