Dayton

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Dayton-based Brower Insurance Agency LLC acquired Aspen Insurancse Associates of Westerville and itssix employees. Aspe n prior to the sale was part of one of the 20 largest independengt insurance agencies inCentral Ohio. John managing principal at Brower, said the company had been planniny to expand into the Columbus area forsome time. “Wew felt that Aspen matched up very well with he said.
Watson declined to disclose financiakl terms ofthe deal, which brought Brower’s payrollp to about 175 employees and added Aspen Presidenf Dave Kotary as a principal and one of 22 company Kotary, who also owned Aspen, said he’se considered selling the firm in recenf years as a way to ensure a smootyh operation for employees and clients when he The 59-year-old said he’s approaching the end of his fourtb decade in the insurance business and likel y will retire in the next threee to six years depending on market conditions. “o received a number of overtures in the past coupleeof years, but I was interesterd in finding a very good cultura l fit,” he said.
“Acquisitions oftebn work out on paper but can fall apart becauseof ... a culture that doesn’tg work out.” While the benefit for Brower is geographical, Kotary said the Westervillse office has access to the resources of a muchlarget company: Loss control, risk management consulting and in-house legakl counsel. Aside from its Dayton headquarters and newWestervilles office, Brower also has employees in Loveland and a city the companyy began serving when it acquired Consolidated Insurance in December. Watson said Browedr has no further acquisition plans despite the tworecentr deals. “We don’t do a lot of he said.
“It just happened that these twocame Brower, founded in is one of the 100 largest employers in the Daytohn area, according to research from the Daytoh Business Journal , a sister publication to Columbusd Business First . In additioh to being ranked asthe region’s largest propert y and casualty agency, it’s the No. 2 health and life insurancse agency and employeebenefits firm.