Brown & Brown, Inc. acquires the assets of DealerMax

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Brown & Brown, Inc. (BRO) acquires DealerMax assets to enhance automotive F&I services. DealerMax, founded in 1982, joins BBDS team in Pennsylvania under Jim Maxim, Jr.'s leadership. The acquisition aims to boost F&I department success through tailored offerings and training.
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The acquisition of DealerMax by Brown & Brown Dealer Services (BBDS) represents a strategic move to enhance BBDS's presence in the automotive F&I (Finance and Insurance) sector. By integrating DealerMax's expertise in F&I training and product offerings with Brown & Brown's extensive insurance brokerage services, BBDS could potentially offer a more comprehensive suite of services to dealership customers. This acquisition aligns with the trend of consolidation in the insurance industry, where companies seek to expand their service portfolios and customer base to improve competitive positioning.

From a market perspective, this acquisition could signal Brown & Brown's commitment to deepening its vertical integration within the automotive industry. It's important to consider the potential for cross-selling opportunities and the synergies that could arise from combining DealerMax's tailored F&I solutions with Brown & Brown's broader insurance offerings. The impact on BBDS's market share and revenue growth will be an area to watch, particularly in the Northeast region where DealerMax is established.

The financial implications of the acquisition of DealerMax by BBDS are multifaceted. The immediate benefits may include an expanded customer base and an increase in market share within the F&I segment. It is crucial to analyze the acquisition cost and how it compares to the projected revenue growth and cost synergies. The long-term financial health of Brown & Brown will depend on the successful integration of DealerMax's assets and the retention of key customers and employees.

Investors and stakeholders should monitor the post-acquisition performance metrics, such as earnings accretion, return on investment and potential changes in the company's debt profile. The acquisition could also affect Brown & Brown's stock performance, depending on the market's perception of the deal's value and the execution of post-merger integration strategies.

The acquisition of DealerMax by Brown & Brown Dealer Services reflects an industry trend towards specialization within the insurance sector. The F&I segment is particularly specialized, focusing on products like vehicle service contracts, warranty extensions and dealer-obligor products. By acquiring a company with a strong foothold in F&I, Brown & Brown can leverage DealerMax's expertise to enhance its own product lineup and potentially increase its bargaining power with underwriters and insurance carriers.

Understanding the competitive landscape is essential, as the F&I space is highly competitive with numerous players. The success of this acquisition will hinge on BBDS's ability to maintain DealerMax's existing relationships while leveraging its resources to optimize operations and drive innovation in F&I offerings. The potential for enhanced training programs and product development could set a new industry standard for F&I services, benefiting both dealers and end consumers.

DAYTONA BEACH, Fla., March 13, 2024 (GLOBE NEWSWIRE) -- J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc. (NYSE:BRO), and Jim Maxim, Jr. and Jim Maxim, Sr., the owners of DealerMax (“DealerMax”), today announced that Brown & Brown Dealer Services (“BBDS”) has acquired the assets of DealerMax.

DealerMax, originally founded in 1982 by Jim Maxim, Sr. as Maxim Automotive, serves dealer customers in Pennsylvania and throughout the Northeast. Under the leadership of Jim Maxim, Jr., DealerMax has continued to enhance the success of the F&I departments of their customers through training and tailored F&I product offerings. The DealerMax team will join Brown & Brown Dealer Services and continue to operate from their offices in Berwyn, Pennsylvania.   The team will report to Robert Hunter, president of Automotive F&I. Jim Maxim, Jr. will remain with and support the team during a transition period.

Mike Neal, president-BBDS, stated, “We have had a long, collaborative relationship with the Maxim family in the F&I automotive industry. We are excited to have the highly experienced DealerMax team and the valuable DealerMax customers become part of Brown & Brown Dealer Services. We look forward to combining the skill and ability of DealerMax with our broader BBDS team.”

Jim Maxim, Jr. said, “We deeply value the Brown & Brown relationship and our shared vision, culture and commitment to excellence. My father, Jim Maxim Sr., and I feel that BBDS is the right home for our employees and customers, and it was clearly evident that this was the right choice for the future of our business. We are honored to become a part of the Brown & Brown team, and we look forward to continuing to provide unparalleled support, training and products to all of our dealership customers.”

Brown & Brown, Inc. (NYSE: BRO) is a leading insurance brokerage firm, delivering risk management solutions to individuals and businesses since 1939. With approximately 16,000+ teammates in 500+ locations worldwide, we are committed to providing innovative strategies to help protect what our customers value most. For more information or to find an office near you, please visit

This press release may contain certain statements relating to future results, which are forward-looking statements, including those associated with this acquisition. These statements are not historical facts but instead represent only Brown & Brown’s current belief regarding future events, many of which, by their nature, are inherently uncertain and outside of Brown & Brown’s control. It is possible that Brown & Brown’s actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Further information concerning Brown & Brown and its business, including factors that potentially could materially affect Brown & Brown’s financial results and condition, as well as its other achievements, is contained in Brown & Brown’s filings with the Securities and Exchange Commission. Such factors include those factors relevant to Brown & Brown’s consummation and integration of the announced acquisition, including any matters analyzed in the due diligence process and material adverse changes in the business and financial condition of the seller, the buyer, or both, and their respective customers. All forward-looking statements made herein are made only as of the date of this release, and Brown & Brown does not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which Brown & Brown hereafter becomes aware.

For more information:

R. Andrew Watts
Chief financial officer
(386) 239-5770


When was DealerMax originally founded?

DealerMax was originally founded in 1982 by Jim Maxim, Sr. as Maxim Automotive.

Who will lead the DealerMax team after the acquisition?

The DealerMax team will report to Robert Hunter, president of Automotive F&I.

What is Brown & Brown, Inc. (BRO) known for?

Brown & Brown, Inc. (BRO) is a leading insurance brokerage firm delivering risk management solutions since 1939.

How many teammates does Brown & Brown, Inc. have worldwide?

Brown & Brown, Inc. has approximately 16,000+ teammates in 500+ locations worldwide.

Where can more information about Brown & Brown, Inc. be found?

For more information or to find an office near you, please visit

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brown & brown is an independent insurance intermediary that, through its licensed subsidiaries, provides a variety of insurance products and services to corporate, public entity, institutional, trade, professional, association and individual clients. becoming a teammate at brown & brown insurance introduces you to a career with virtually unlimited possibilities. our unique corporate culture rewards self-starters and hard workers who adhere to our commitment to do what is best for our clients. with brown & brown you will get the training, the mentoring and the tools you need to succeed. headquartered in daytona beach, we are located all across the united states, with products and services offered through four major business divisions. we are listed on the nyse at bro. our corporate culture is built on vision, speed, agility and strength that allows us to thrive in the very competitive insurance environment. this unique culture has enabled us to quickly chase down new opportunities, adap