We are pleased to announce the sale of Pace Insurance Managers, Inc. to Security Service Federal Credit Union. The acquisition closed February 8, 2021.
Pace Insurance Managers (Pace), located in Springhill, Louisiana, is a full-service insurance agency providing multiple types of coverage to the forest products industry for over 62 years. They are also experienced in helping clients decide what insurance is best for their personal and commercial needs.
The Company’s agents possess leading credentials and are dedicated to helping each client find the perfect policy. Pace is committed to quality customer service and exceeding expectations.
Located in San Antonio, Texas, Security Service Federal Credit Union (SSFCU) was founded in 1956 and has over $9.5 billion in assets, over 770K members, and 66 branches. The credit union has built a reputation of strength, stability, and convenience by offering its members financial soundness, convenient hours of service and competitive financial products and services.
The primary goals at SSFCU are to meet its members' financial needs and help them improve their financial situations. The Company believes in empowering its members with the knowledge to make strong financial decisions.
Generational Equity Executive Managing Director of M&A - Central Region, Michael Goss, and his team, led by Managing Director, M&A, Luan Ly, successfully closed the transaction. Senior Managing Director DeWayne Nelon established the initial relationship with Pace.
“This was an ideal transaction that truly satisfied the objectives of both sides. There are tremendous opportunities that lie ahead, and I wish both parties my very best,” said Ly.
If you would like to explore other transactions our associates have supported in this industry, visit our dedicated Business Services & Financial Services M&A Deals page.
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