King Insurance buys Florida agencies

Gainesville, Florida-based King Insurance said Tuesday it has acquired Don Martin Insurance Inc., a commercial and personal lines agency based in Fanning Springs, and Insurance Den Inc., an agency in Homosassa.

Terms of the transactions were not disclosed.

The two agencies have a total of 14 employees, said Jay Grevers, chief financial officer of King.

DMI has offices in Orlando and Cross City in addition to its Fanning Springs location. Its 10 employees will continue operating out of their current locations under the guidance of Michael Michaelis, who has run the agency since 2000.

Insurance Den focuses on commercial and personal lines business on Florida’s west coast. Its four employees will continue to operate out of the office in Homosassa.

King said in a statement it plans to continue to broaden its footprint across the southeastern U.S. Private equity firm BHMS Investments LP invested in the brokerage last July.