Ontario, Calif.-based Alpha Risk Insurance Services acquired Pacific Way Insurance Services, also of Ontario. Terms of the transaction were not disclosed.
Pacific Way was founded in 2004 by Karen Cancilla as a small commercial lines agency, and has grown to more than 500 clients and 10 percent of its business in personal lines.
Alpha Risk Insurance Services was started by Roobik Galoosian in 2008. Alpha Risk completed the acquisition to achieve its growth goals for 2008 and beyond. “I look forward to growing Pacific Way by adding to its insurance product offering, as well as providing risk
management services to our commercial policyholders,” Galoosian said.
Ganis Consulting, a Los Angeles-based consulting firm assisted in closing the transaction.