Benzinga | Dec 14, 2021 05:17PM EST

Brown & Brown Reports Its Dealer Services Unit Purchases Substantially All Assets Of Rainmaker, No Terms Disclosed

J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc. (NYSE:BRO), and Ryan Hanlon, owner of Rainmaker Advisory, LLC ("Rainmaker"), today announced that Brown & Brown Dealer Services ("BBDS") has acquired substantially all of the assets of Rainmaker.

Ryan Hanlon is a seasoned advisor regarding F&I product and reinsurance planning for auto and RV dealers. The Rainmaker operations will join Brown & Brown Dealer Services under the leadership of Mike Neal. Ryan and the Rainmaker team will continue operating from their offices in Ventura, California.

Mike stated, "We are excited about the capabilities that Ryan and his team bring to BBDS, both in their depth of knowledge to further enhance our capabilities for our dealer customers and in establishing a West Coast presence for our broader team. Our shared values of customer-first focus along with best-in-class industry knowledge confirm that the Rainmaker team is a natural fit for Brown & Brown Dealer Services. We look forward to our future together."

Ryan stated, "We are thrilled to join the BBDS team and enthusiastic about the collaborative opportunities created by this acquisition. BBDS has an incredibly talented team and resources that will allow us to better serve our dealer customers. The future is bright, and we are grateful for the opportunity to build a West Coast presence with Brown & Brown."