Go to Main Page »
Go to Retail Agencies section »
DECLARATION BROKERAGE ACQUISITIONS:
CAPACITY COVERAGE TRANSACTIONS:
While Declaration Brokerage is a new entity, Capacity Coverage has been in business for well over 20 years. In the last decade, Capacity has successfully completed in excess of 20 strategic investments and acquisitions. Below are two examples.
RBLA OF PA:
On May 6. 2014, Declaration Brokerage acquired RBLA of PA, Inc. RBLA is a Stroudsburg, Pennsylvania-based insurance agency that specializes in a wide range of commercial and personal lines coverages. RBLA has been in business for about 25 years. It is owned and managed by John A. Martone Junior.
In connection with the acquisition, Mr. Martone said, "The decision to move forward with this deal after months of deliberation came down to creating opportunities... The deal, although an acquisition, feels more like a partnership. The model for Declaration is to build out a regional agency using RBLA as one of its hubs. I will be leading the charge as Regional Vice President in charge of new business development and client services, which is a new business opportunity for me."
GUARANTY COVERAGE CORP:
In June 2013, Capacity Coverage acquired 100% of the assets of Guaranty Coverage Corp., a New Jersey based agency. Ralph Scafuro, President of Guaranty Coverage, stated, "I was pleased to sell my business to Capacity Coverage. Capacity came up with a structure that enabled me to sell my business while still staying in business."
ARM OF NEW YORK:
In June 2007, Capacity Coverage made a strategic investment in the business of ARM of New York, a well-established commercial lines agency in Downtown Manhattan, which was renamed ARM-Capacity of New York. In the 7 years following the investment, Arm-Capacity has tripled in size. Dave Harris, ARM-Capacity's CEO said, "We could not be happier with our partnership with Capacity. Their support, together with our hard work, has enabled the business to thrive and grow."
© 2014 Declaration Brokerage, LLC. • All Rights Reserved.