Lehi-based PCF Insurance buys firms in Illinois and Georgia
Continuing its year-long spate of acquisitions, Lehi-based insurance brokerage PCF Insurance Services (PCF) has acquired Direct Dealer Services (DDS), an automotive finance and insurance firm headquartered in Hoffman Estates, Illinois, and Voluntary Benefits at Work, a Marietta, Georgia-based provider of voluntary employee benefits.
Direct Dealer Services was founded in 1992 to help dealers, agents and lenders financing and insurance programs that promote employee confidence, fewer regulatory risks and improved customer sales and satisfaction, PCF said.
“Direct Dealer Services has a strong foothold in a unique market,” said Peter C. Foy, chairman, founder and CEO of PCF Insurance. “The experience and knowledge that DDS brings will help position PCF as a leader in the F&I space and continue our geographical expansion of these product offerings.”
With 40 years of experience in the benefits industry, Voluntary Benefits at Work combines state-of-the-art benefits analysis, communication, enrollment, billing and support services, providing a strategic competitive advantage for the company across the benefits industry, a PCF release said.
“We are excited about what Voluntary Benefits at Work will bring to our partner network,” said Foy. “In a time when the average employee is highly tuned in to these types of benefits, its focus on the ancillary benefits is unlike most in the industry. Adding this niche offering to PCF Insurance’s portfolio of agency partners expands coverage of our offerings and increases the availability of innovative protection against unique risks.”
The acquisitions’ financial details were not disclosed.