DAYTONA BEACH, Fla. — MBA Insurance and Brown and Brown of Kentucky have entered into an agreement for the acquisition by Brown & Brown of substantially all of the assets of MBA.
J. Scott Penny, chief acquisitions officer of Brown and Brown, and Bert Alanko, the sole shareholder of MBA Insurance Agency of Arizona, made the announcement today.
Founded in 1978, MBA provides rental insurance for the recreation vehicle and power sport vehicle markets throughout the United States. MBA has annual net revenues of approximately $5.5 million. The acquisition is scheduled to close effective Dec. 1.
Alanko and his MBA team will become part of Brown & Brown of Kentucky’s National RV Center, which is based in Columbia, Ky., and also has locations in Tampa, Fla.; Simi Valley, Calif.; and Albany, N.Y.
The National RV Center operates under the leadership of Mike Neal, executive vice president of Brown & Brown of Kentucky. The MBA team will continue to operate from their existing office in Scottsdale, Ariz., and will report to Mike Neal.
“For over 30 years, Bert Alanko and MBA have been a leader in the RV and power sport rental insurance marketplace by providing innovative insurance and technology solutions,” said Neal. “This transaction allows us to broaden and strengthen the National RV Center’s operations by rounding our insurance solutions for RV and power sport dealers and owners. We are very excited that Bert Alanko and his magnificent team have chosen to join Brown & Brown’s National RV Center.”
“Brown & Brown has shown that they are truly vested in the industry segments that MBA serves — RV and powersports,” said Alanko. “By joining Brown and Brown, our experienced team will continue to provide great MBA customer service along with gaining access to new products.”
SOURCE: Brown and Brown Insurance press release