An average of one agency acquisition a year for the last 18 years
Kaplansky Insurance has acquired the North State Insurance Agency of Chelmsford. This latest acquisition for the Brookline-based agency marks its twentieth agency acquisition in the past 18 years.
“We are very pleased that we are able to associate with an agency with such an excellent reputation,” said Kaplansky. “North State Insurance Agency, has provided local residents and business in Massachusetts and New Hampshire with an exceptional level of service for over 50 years.
Founded in Brookline in 1974, Kaplansky Insurance is still owned and operated by President and CEO Ely Kaplansky. The agency now operates in 11 locations in eastern and central Massachusetts and has is sights on continuing to grow and to acquire other agencies.
“Our expansion plan is on target. “We are continuing our search for profitable, quality agencies. We expect to continue our growth through both acquisitions and a strong focus on organic sales and marketing” according to Mr. Kaplansky.
In discussing his acquisition of the Lex Insurance Agency in 2012, Kaplansky said that in his opinion the greatest challenge in acquiring an agency is finding that right one. “My greatest challenge is locating good agencies for sale. We use various methods that include networking with our companies and other agents.” Generally, “We look for well-established agencies in good communities that have good books of business and a professional staff. The most important thing is a good book of business at a minimum, with the potential to be improved.”
As for the North State agreement, Michael Noone CIC, Vice President of Operations for Kaplansky Insurance and Pamela Ubele, Branch Manager of North State will coordinate the merger.