Sukay & Associates, Inc., a financial advisory and consulting firm to insurance brokers and banks, announced its recent representation of Hess Egan Hagerty & L’Hommedieu, Inc. (“Hess Egan”), a commercial insurance and surety brokerage agency, in its sale to M&T Insurance Agency, Inc. (“MTIA”). Terms of the deal were not disclosed.
Sukay & Associates was founded in 2003 to provide a range of advisory services related to the valuation, purchase, sale and restructuring of businesses in the financial services sector. The principals – Thomas J. Sukay and John Biasiello – have more than 40 years of relevant deal and industry experience in the Mid-Atlantic region and have personally guided clients in every aspect of a transaction, including post-closing integration to ensure returns are maximized.
A leader among the top surety and insurance firms in the country, Hess Egan is a full-service agency based in Maryland with offices in Pennsylvania and New Jersey that serves an international client base. The current principals, Robert E. Walsh, Eugene P. Dessureau, John J. Younger, Donald W. Armbrecht, and Stephen W. Freeman will remain with the newly-created Hess Egan division of MTIA.
Robert E. Walsh, President of Hess Egan, said, “Both MTIA and Hess Egan have the reputations of being talented, top-flight organizations at all levels — the corporate cultures are a perfect match. Customer service will remain high, with continued emphasis on nurturing relationships at the local level through our talented team of professionals.”
Commenting on his work with Sukay & Associates, Mr. Walsh said, “I could not have asked for a better advisor in this transaction. Sukay & Associates treated our transaction as if it was their own and worked tirelessly to ensure our professional and personal goals were achieved.”
