Business Services Industry
New insurance broker targets middle market; Two former top execs from Willis, Synaxis launch Tennessee firm.(launching of Synercon Insurance Holdings )
Business Insurance, July, 2007 by Roberts, Sally
Byline: SALLY ROBERTS FRANKLIN, Tenn.-Another startup insurance brokerage fueled by private equity capital has embarked with the goal of becoming a major middle-market player. Franklin, Tenn.-based based Synercon Insurance Holdings was launched last week by industry veterans Kenneth H. Pinkston, former chairman and chief executive officer of Willis Group Holdings Ltd.'s North American operations in Nashville who retired in 2001; and David D.
Haynes, former chairman and CEO of Synaxis Group Inc., who left the Nashville, Tenn., brokerage in late 2004. Primus Capital Funds, a Cleveland-based private equity firm, is providing the capital to fund Synercon, which plans to acquire $200 million in revenues over a five-year period, Mr. Haynes said. He declined to...
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