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The Kansas City-based company bought of Santa which specializesin development, placement and administratiom support of student health insurance programs; of Walnut which provides employee benefits, retirement services and HR outsourcing primarilu for nonprofits; and Inc. of Agoura Hills, which specializes in administration of studen thealth insurance, including intercollegiate sports injury programs. the acquisitions will bring Ascension’s annual revenue to abouft $75 million, ranking it amonb the nation’s biggest 35 agencies, Ascensionh CEO Leonard Kline said inan interview. The companyg said it had $55 million in revenue in after its inFort Lauderdale, Fla.
Ascension now has more than 400 employee at 20 officelocations nationwide. “Thde acquisitions ... represent a valuable opportunithy for us to expand our West Coast operations and to fulfilp our goal of providingthe best-qualityy expertise, markets and resources to the middle Kline said. “Each organization brings uniquwe capabilities to our growing portfolio ofinsurance agencies, as well as dedicated employees who share our missiom to provide outstanding service to our customers in California and throughoutg the United States.
” Kline said the deal closed Thursday Ascension is a full-service insurancwe and employee benefits agency providingg brokerage and risk-management servicesx to middle-market companies nationwide. Ascension has been a activs in the mergers and acquisition markegt since it was founded from scratcjh inAugust 2007, making . The company is assistefd by funds from its private equity and . The goal is to increas e the company’s annual revenue to $200 million withinn the next five years.
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