SAN DIEGO, March 15, 2021 /PRNewswire/ — K2 Insurance Services is pleased to announce that it has recently completed the acquisition of a majority stake in Columbia Pacific Finance, LLC (CPF). Headquartered in Missoula, MT, CPF is a premium finance company providing billing solutions, with a national footprint. The company has gained nationwide identity with its competitive and flexible payment options on all agency billed products.
K2 Insurance Services, LLC was formed in 2011 and led by CEO Robert Kimmel, in partnership with investment firm Lee Equity. With the goal of creating a leading underwriting and distribution franchise in the program insurance market, over the past ten years, they have assembled a core group of specialty MGAs located across the country. The company is always looking for quality acquisitions and growth opportunities throughout the United States.
“We believe the timing of the partnership is excellent as consumers are demanding a seamless, simple to use billing solution. K2 is on a mission to become the premier specialty MGA and the CPF partnership only strengthens our tool belt and product offering for our clients,” said Robert Kimmel, CEO of K2 and Chairman of CPF’s Board of Managers. “CPF will be able to provide innovative and successful billing to reduce time and headaches for our consumers and accounts receivable teams.”
Following the acquisition of Columbia Pacific Finance, CPF President Reghan Brandt will continue to lead the day-to-day premium finance operation of the organization. Brandt’s experience in premium financing and billing covers almost 15 years. For most of her career, she has worked directly with thousands of retail brokers with a focus on creating an exceptional customer experience, while utilizing technology to grow the premium finance company.
Expressing pleasure about the new partnership with K2, Brandt said, “CPF has been looking for an investor that brings a large network of brokers, delivers superior insurance products, and looking to be a one stop shop for their customers. When we started the conversations with Bob Kimmel and the entire leadership team at K2, we knew we had something special and our synergies could help both grow enterprise value.”
About Columbia Pacific Finance:
CPF is a privately held premium finance company providing billing solutions for insurance agencies, general agents, and insurance companies with agency billed premiums. CPF provides short–term loans for businesses and individuals to obtain the proper insurance coverages while freeing up their capital. CPF works closely with our distribution partners to ensure a seamless premium finance experience for all parties involved with cutting edge technology and unmatched customer service.
About K2 Insurance Services:
K2 Insurance Services is an insurance services holding company, which owns and controls a diverse set of specialty program administrators. Through its MGAs, K2 markets, underwrites, and services over $1 billion annually in niche commercial and personal insurance premiums. From workers’ compensation for high hazard exposures such as commercial transportation to personal lines coverage for manufactured homes, K2 helps insure clients across a diverse array of risks and industries. K2 is headquartered in San Diego, California and is a privately held company. For more information about K2, its people and products, please visit www.k2ins.com.
SOURCE K2 Insurance Services, LLC