FOR IMMEDIATE RELEASE
Britt / Paulk Insurance Agency, Inc. Positioned
for Growth
Carrollton, Georgia,
August 22, 2006 -Britt / Paulk Insurance Agency,
Inc., a privately held Program Administrator, has announced
plans for growth through acquisition.
Britt / Paulk has engaged LMC Capital LLC, a leading
insurance investment banking firm, to seek appropriate
acquisition targets including MGA’s and Wholesalers
with premiums ranging between $10 and $30 million.
Regions Bank will advise the company with regard to
financing options that will enable sellers to receive
cash.
John Paulk, President of Britt / Paulk commented, “We
feel extremely fortunate to have the support of Regions,
which brings an unsurpassed track record of successful
financings. This relationship positions us very well
for making successful acquisitions.”
Regions Bank Commercial Relationship Manager Paul
Sparks added, “We are pleased to be a trusted
financial advisor for Britt / Paulk. We understand
their big picture, their plans to achieve their vision,
and want to help them achieve it. We look forward to
exploring new transactions with them and to making
significant contributions during their mission to build
scale in the Property & Casualty insurance marketplace.”
About Britt / Paulk Insurance Agency, Inc.
Britt/Paulk is a privately-held Program Administrator
located in Carrollton, Georgia. The company underwrites
four main areas of inland marine insurance: Builder’s
Risk, Poultry/Swine Confinement, Equipment for Agriculture,
Forestry, Construction, and Marine Cargo. These
programs are underwritten by admitted U.S. insurers
with A ratings or better. Coverage is provided
in 49 of 50 states with the exception of Hawaii. For
more information, visit www.BrittPaulk.com
About Regions Bank
A community-focused bank with local leadership, Regions
Bank currently offers full-service commercial and retail
banking from some 1,300 offices and a 1,600-ATM network
across 16 states throughout the South, Midwest and
Texas. Headquartered in Birmingham, Ala., the bank,
a part of Regions Financial Corporation (NYSE: RF),
draws on the resources of its parent company’s
other affiliates to ensure that both business and retail
customers can avail themselves of a full range of financial
products and services in the areas of mortgage banking,
securities brokerage and insurance. Additional information
about Regions Bank and Regions Financial Corporation – a
member of both the Forbes and Fortune 500 and one of
the nation’s Top 15 banks – can be found
at www.regions.com.
About LMC Capital LLC
LMC Capital is a Charlotte, NC based investment banking
firm focusing exclusively on the insurance industry. For
more information, visit www.LMCCapital.com.
Contacts:
Dene Schoerner - Britt / Paulk Insurance Agency, Inc.
(770) 214-7613
Rebecca Stowe - Regions Bank Media Relations
(770) 503-2107
Laughton Sherman - LMC Capital LLC
(704) 943-2600
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