The deal is scheduled to be completed in early Q2 2023. The president of the acquirer, Danny Kaufmansaid that “today’s announcement signals to the marketplace that Burns & Wilcox is continuing an aggressive acquisition strategy.”
“McIntyre has a thriving commercial business that aligns well with our significant presence in Louisiana and throughout the Southeast,” said Kaufman. “We look forward to having Bart and his team join us, as we continue to expand Burns & Wilcox throughout the region.”
Bart Dugdale, McIntyre president, and his team of associates will remain in the business after the sale officially closes. Dugdale will assume the role of associate managing director and will report to Bonnie Steen, vice president and managing director for the Louisiana and Arkansas divisions of Burns & Wilcox.
“A perfect fit”
McIntyre & Associates was founded in 1998 by Dugdale’s father-in-law, Bill McIntyre, and has since spread its operations throughout the state of Louisiana, with a focus on contractors, lessor risks, restaurants, specialty event, and commercial packages, among others.
“Joining a global organization like Burns & Wilcox is a perfect fit for our firm,” said Dugdale. “They are committed to investing resources to fuel our growth and will provide our team with tremendous professional development opportunities.
“We were drawn to the independence of Burns & Wilcox and its family ownership.”
Burns & Wilcox “made it clear that they wanted our office to play an important role” in the future of the business, according to Dugdale.
“Our team looks forward to years of success as a part of Burns & Wilcox,” said Dugdale.
Shifting dynamics
The deal comes as One180 Intermediaries director of integration Barbara Ingraham said that due to high interest rates and an uncertain economic landscape, the “math” behind mergers and acquisitions is probably undergoing a change. Despite this, Ingraham said Insurance Business in a recent interview that the logic of M&A remains intact and the deal sprees are set to continue.
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