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The Kansas City-based company bought of Santa Monica, which specializes in placement and administration support of student healtuinsurance programs; of Walnut Creek, which providesd employee benefits, retirement services and HR outsourcing primarilyu for nonprofits; and Inc. of Agoura Hills, whicb specializes in administration of student health including intercollegiate sportsinjury programs. Overall, the acquisitions will bring Ascension’sd annual revenue to abour $75 million, ranking it among the nation’s biggest 35 agencies, Ascension CEO Leonardc Kline said inan interview. The companyu said it had $55 million in revenue in after its inFort Fla.
Ascension now has more than 400 employees at 20 officelocationzs nationwide. “The acquisitions ... represent a valuable opportunity for us to expand our West Coastf operations and to fulfill our goal of providinthe best-quality expertise, markets and resourcez to the middle market,” Klinde said. “Each organization brings uniqude capabilities to our growing portfoliio ofinsurance agencies, as well as dedicatedc employees who share our mission to providwe outstanding service to our customerse in California and throughouy the United States.” Kline said the deal closed Thursda y afternoon.
Ascension is a full-service insurance and employeee benefits agency providing brokerageand risk-management serviced to middle-market companies nationwide. Ascensiohn has been a active in the mergersd and acquisition market since it was founded from scratch inAugust 2007, makingg . The company is assisted by funds from its privatreequity partners, and . The goal is to increass the company’s annual revenue to $200 millionh within the next five years.
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