PCF Insurance Services Acquires Specialty MGA Professional Warranty Service Corporation
Virginia-based leader in home warranty products complements PCF Insurance's growing real estate and construction sector.
PCF Insurance Services (PCF), a top 20 U.S. insurance brokerage firm, announced today its acquisition of Professional Warranty Service Corporation (PWSC), a specialty insurance and home warranty company based in Chantilly, Virginia.
Founded in 1995, PWSC is a nationally recognized provider of risk management solutions specializing in the new home construction and property management industries. As a managing general agent (MGA), PWSC provides expertise, products and services to builders, insurance carriers, brokers, agents, property management firms, homeowners, and renters. PWSC offers a complete line of structural and appliance warranty products and solutions for property managers and residential builders.
"We are excited about the addition of PWSC to the PCF family," said Peter C. Foy, Chairman, Founder, and CEO of PCF Insurance. "PWSC has an impressive record of building unique and meaningful warranty-based risk management solutions for home builders, institutional investors, and property managers. Their innovation and commitment to mitigating risk aligns with a holistic solutions approach that is core to PCF’s value proposition and will be beneficial to other Agency Partners and clients within the PCF network.”
The partnership enhances PCF’s portfolio of offerings, deepens its presence in the real estate and construction industry and adds to the company’s capacity to deliver specialty risk management solutions. The landmark deal with PWSC is emblematic of PCF’s strategy to partner with exceptional business leaders who possess a proven track record of growth and success, are highly entrepreneurial, and have ambitions to pursue an aggressive expansion strategy.
"Joining the PCF family allows PWSC to continue its long tradition of combining insurance and warranty services to bring complete risk management solutions to high-risk industries,” said Tyler Gordy, President and CEO of PWSC. “We are confident this partnership will yield new opportunities to bring innovative solutions to our clients and accelerate our growth.”
PCF Insurance did not disclose the terms of the deal.
To date in 2022, PCF Insurance has completed or has under letter of intent 66 acquisitions, continuing its industry-leading M&A pace.
About Professional Warranty Service Corporation (PWSC)
For nearly 30 years, PWSC has protected home builders and home buyers with groundbreaking solutions. As the housing market has changed and industry needs have evolved, so has PWSC. What began in 1995 as a small company primarily offering builder warranty administrative services has led to a complete line of programs for new homes and rental properties. PWSC has protected over two million since inception. Learn more at pwsc.com.
About PCF Insurance Services
Headquartered in Lehi, Utah, PCF Insurance Services is a leading full-service consultant and insurance brokerage firm offering a broad array of commercial, life and health, employee benefits, and workers' compensation solutions. A top 20 U.S. broker, PCF Insurance's agency-centric operating model and entrepreneurial environment support its tremendous growth profile, offering partners alignment through equity ownership, significant leadership incentives, and resources to over 2,500 employees throughout the U.S. Learn more at pcfins.com.