The insurance brokerage firm PCF Insurance Services has announced that it has acquired Peak Performance Team (PPT).
The terms of the deal were not disclosed.
PPT is a niche finance & insurance broker based in South Carolina offering bespoke packages to auto dealerships across the US. The broker’s focus is extended warranties, vehicle service contracts, GAP, and a few ancillary products which enhance an auto dealership’s service offerings.
"We are excited to partner with Peak Performance," said PCF Insurance Services founder, chairman, and CEO Peter C. Foy. "With PPT’s proven custom tools and products for auto dealers, PCF further secures itself as a national player in the F&I space. We look forward to collaborating with PPT as they continue to grow."
"We weren't looking for a purchaser; we were looking for a partner," added PPT president R. Michael Burgholzer. "Our goal was to find an investor that provided the resources and capital to help take us to the next level. The partnership with PCF brings these resources and so much more."
To date, PCF has completed or has under the letter of intent 112 acquisitions for 2022. The company said in a release that it “continuously seeks an optimal balance between entrepreneurial spirit and collaboration” whenever it forms a partnership with an agency.
Read more: PCF Insurance Services agencies form new coalition
Last week, 19 insurance agency partners affiliated with PCF Insurance Services in the US Northwest formed a new agency coalition called Western Pacific Partners Group (WPPG).
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