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The Kansas City-based company bought of Santa which specializesin development, placement and administrationn support of student health insurance of Walnut Creek, whichb provides employee benefits, retirement services and HR outsourcing primarilg for nonprofits; and Inc. of Agourwa Hills, which specializes in administration of studenhealth insurance, including intercollegiate sportse injury programs. Overall, the acquisitionw will bring Ascension’s annual revenue to about $75 ranking it among the nation’ds biggest 35 agencies, Ascensio n CEO Leonard Kline said inan interview. The companyy said it had $55 millioj in revenue in March, afte its in Fort Fla.
Ascension now has more than 400 employeex at 20 officelocations “The acquisitions ... represent a valuable opportunity for us to expandd our West Coast operations and to fulfill our goal of providingthe best-qualitgy expertise, markets and resources to the middls market,” Kline said. “Each organizatiobn brings unique capabilities to our growinhg portfolio ofinsurance agencies, as well as dedicatedr employees who share our missiobn to provide outstanding servicew to our customers in California and throughoutf the United States.
” Kline said the deal closed Thursday Ascension is a full-service insurance and employes benefits agency providing brokerage and risk-management services to middle-markert companies nationwide. Ascension has been a activde in the mergers and acquisition market sinc it was founded from scratchu inAugust 2007, making . The company is assiste d by funds from its privateequity partners, and . The goal is to increases the company’s annual revenue to $200 milliohn within the next five years.
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