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September 12, 2019 at 02:26 PM
Integrity Marketing Group LLC has answered a question about its current strategy, by acquiring the Pinnacle Benefits Group of Winston-Salem, North Carolina.
Integrity Marketing is a Dallas-based senior products distributor that has announced about 20 insurance distributor acquisitions since 2016.
A private equity firm, Harvest Partners, bought a large stake in Integrity Marketing in August.
(Related: Frequent Senior Market Firm Buyer Gets More Cash)
The Harvest Partners investment announcement was not clear about whether Integrity Marketing would continue to be making as many distributor acquisitions.
Integrity Marketing responded to the uncertainty by giving its Pinnacle Benefits deal press release the headline, “Integrity Marketing Group Continues Pace with Acquisition of Pinnacle Benefits Group.”
Integrity Marketing noted that the deal is the first “for Integrity since the company received a strategic growth investment from Harvest Partners.”
The insurance marketing organization acquired, Pinnacle, offers a wide range of products, including Medicare Advantage plans, Medicare supplement insurance plans, Medicare Part D prescription drug plans, short-term health insurance, disability insurance, dental insurance, vision insurance, term and permanent life insurance, stand-alone long-term care insurance, and non-variable annuities from six different issuers.
Raymond Richard started Pinnacle with R. Lindsay Leonard in 1994.
