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IMA Financial Group Inc. said Monday it will acquire Springfield, Oregon-based k.p.d. Insurance Inc., effective April 1.
Terms of the transaction were not disclosed.
The deal will expand IMA’s footprint into the Pacific Northwest and add additional specialties in wood products, wildland firefighting and transportation.
k.p.d. will be the ninth, and largest, broker to join Denver-based IMA since early last year and operate as k.p.d., an IMA Company. Its approximately 100 employees will remain in the company’s Portland and Springfield, Oregon, offices, according to an email from an IMA spokeswoman.
Kyle Hudson, CEO of k.p.d., will lead IMA’s Pacific Northwest region.
IMA President Luke Proctor said in the statement that k.p.d. “can expand into new areas.”
Denver-based IMA Financial Group is the 28th largest broker of U.S. business based on Business Insurance’s latest rankings.