Brown & Brown, Inc. acquires the assets of Tire Shield
Rhea-AI Summary
Brown & Brown (NYSE:BRO) has announced that its subsidiary Brown & Brown Dealer Services (BBDS) has acquired the assets of Tire Shield, a company specializing in administrative services for tire and wheel road hazard products and GAP waiver products in the RV, Automotive, and Power Sports Industries.
Founded in 1997, Tire Shield will continue operations from their Las Vegas offices, with the team reporting to William Kelly, president of BBDS's administrative services. The acquisition enables BBDS to expand its service portfolio by adding GAP waiver administration services to complement its existing vehicle service contract administration services.
Positive
- Strategic expansion into GAP waiver administration services
- Retention of existing Tire Shield operations and team in Las Vegas
- Complementary addition to BBDS's vehicle service contract administration services
- Geographic expansion in the Las Vegas market
Negative
- Potential integration risks and challenges with existing operations
- Undisclosed acquisition cost and financial terms
News Market Reaction – BRO
On the day this news was published, BRO gained 1.21%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
DAYTONA BEACH, Fla., Aug. 12, 2025 (GLOBE NEWSWIRE) -- J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc. (NYSE:BRO), and Mark N. Otto, the owner of Tire Shield, Inc. (“Tire Shield”), today announced that Brown & Brown Dealer Services (“BBDS”) has acquired the assets of Tire Shield.
Founded in 1997, Tire Shield offers administrative services for dealers and agents providing tire and wheel road hazard products and GAP waiver products for the RV, Automotive and Power Sports Industries. The Tire Shield team will join Brown & Brown Dealer Services and continue to operate from their offices in Las Vegas, Nevada. The team will report to William Kelly, president of BBDS’s administrative services.
Mike Neal, president of BBDS, stated, “We are excited to welcome the Tire Shield team and their valued customers to Brown & Brown Dealer Services. The addition of Tire Shield allows us to broaden our offerings to include GAP waiver administration services in addition to our vehicle service contract administration services. We look forward to continuing to service and grow these businesses.”
Mark Otto said, “We are thrilled to be joining the BBDS team. This marks a new chapter for us, enabling broader capabilities and opportunities to serve our customers. Together, we look forward to accelerating innovation and delivering even greater value.”
Brown & Brown, Inc. (NYSE: BRO) is a leading insurance brokerage firm delivering comprehensive and customized insurance solutions and specialization since 1939. With a global presence spanning 700+ locations and a team of more than 23,000 professionals, we are dedicated to delivering scalable, innovative strategies for our customers at every step of their growth journey. Learn more at bbrown.com.
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
FAQ
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