Hub International, a full-service global insurance broker, has acquired CAPAX Management and Insurance Services.
The terms of the transaction were not disclosed.
Located in Modesto, California, CAPAX provides multi-line insurance solutions, including personal and commercial, employee benefits products and risk management solutions.
CAPAX's expertise focuses on bringing captive solutions to their clients in various industries, such as agribusiness (crop).
As part of the deal, Joel Geddes, president of CAPAX, will join Hub California and report to Michael Der Manouel, executive vice-president of Hub California Central Valley.
Der Manouel says CAPAX is a “great addition to the Hub family” as it continues its growth strategy in the region.
Geddes comments: "We look forward to joining Hub, a leading brokerage firm with strong values and an utmost commitment to clients. With Hub, we will be well-positioned to provide a full suite of services to fit our clients' growing needs.”
