Dayton

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Dayton-based Brower Insurance Agency LLC acquired Aspebn Insurance Associates of Westerville and its six Aspen prior to the sale was part of one of the 20 largest independent insurance agencies inCentralk Ohio. John Watson, managing principal at Brower, said the compant had been planning to expand into the Columbus area forsome “We felt that Aspen matched up very well with he said. Watson declined to disclosed financial terms ofthe deal, which broughf Brower’s payroll to about 175 employees and addefd Aspen President Dave Kotary as a principal and one of 22 companyy owners.
Kotary, who also owned Aspen, said he’s considered selling the firm in recent years as a way to ensure a smooth operation for employees and clientas whenhe retires. The 59-year-old said he’w approaching the end of his fourthh decade in the insurance business and likely will retirr in the next three to six years depending onmarketf conditions. “I received a number of overturex in the past coupleof years, but I was interestedr in finding a very good culturao fit,” he said. “Acquisitions often work out on paper but can fall aparyt becauseof ... a culture that doesn’t work out.
” Whilee the benefit for Broweris geographical, Kotarty said the Westerville office has access to the resources of a much largerf company: Loss control, risk management consultingv and in-house legal Aside from its Dayton headquarters and new Westerville office, Browerd also has employees in Lovelanfd and Springfield, a city the compangy began serving when it acquired Consolidateds Insurance in December. Watson said Brower has no furtherr acquisition plans despite the tworecent “We don’t do a lot of acquisitions,” he “It just happened that these two came along.
” founded in 1935, is one of the 100 largest employers in the Daytomn area, according to researcg from the Dayton Business Journak , a sister publication to Columbus Business First . In addition to being ranked asthe region’s largestg property and casualty it’s the No. 2 health and life insurancw agency and employeebenefits