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Ion Insurance Acquires Cheshire Agency
February 20, 2018Ion Insurance Corp. has acquired an independent Cheshire insurance agency in a transaction that will nearly double their size.
Ion Insurance has acquired CPM Insurance of 90 Hinman Street in Cheshire, in a deal that became effective in January 2018, announced David Drescher, President of Ion Insurance.
"CPM has a positive sales and service culture that is a good fit for Ion Insurance.", said David Drescher, "Together we offer several niche programs which gives us a larger presence. Merging our companies together will be seamless and non-disruptive for customers of both agencies."
Upon closing the sale, former owner, Connex Credit Union's President and CEO Frank Mancini said, "We recognize that our growth lies in our core business proficiencies and that is where we will focus our resources."
In addition to the wide variety of current insurance product offerings, the deal will give customers access to a greater number of insurance carriers and specialized insurance coverage for towing operations, sand and gravel hauling, automobile recycling and dismantling as well as one of a kind tool and equipment coverage offered through CPM's exclusive program, Pro-Tec.
"This is just one more step down the road of bringing better service and a wider and deeper variety of products to our customers," Drescher said.
Ion Insurance will keep their headquarters at 24 Cherry Street in Naugatuck and add an office location at 1520 Highland Avenue in Cheshire which will house a majority of their employees.
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