Premium Financing Specialists, Inc. (“PFS”) has completed its acquisition of assets from Capitol Payment Plan, Inc. (“Capitol”).
Capitol is an insurance premium finance company headquartered in Albany, NY that extends short-term, collateralized financing to facilitate the purchase of insurance for personal and commercial property, casualty and liability risk. Capitol is a leader in financing non-standard automobile insurance policies in New York State through the state’s assigned risk plan. www.cappay.com
Headquartered in Kansas City, MO, PFS has operated in the premium finance industry for 30 years and is the fourth largest company in the industry with $1 billion of premium finance receivables. PFS has successfully completed 14 acquisitions in the past ten years. www.premiumfinance.com
Colonnade Advisors LLC of Chicago, IL served as exclusive financial advisor to Capitol in the transaction.