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Brown & Brown subsidiary to acquire assets of Industry Consulting Group

Brown & Brown's new wholly-owned subsidiary has agreed to acquire substantially all of the assets of Industry Consulting Group (ICG) located in Dallas and Wichita Falls, Texas.

ICG, with $7.1m of annualized revenues, provides property tax services including tax reporting, payment, and valuation and assessment appeals services to financial institutions and other clients in Texas and throughout the US.

As part of the transaction, ICG’s principal and president, Matthew Warmuth, and his team will continue to serve their clients from their Dallas and Wichita Falls locations, under the ICG name.

Brown & Brown regional executive vice president Kenneth Masters said Matt Warmuth and his family have grown ICG into a technically strong organization that provides creative solutions for its clients’ property tax needs. This transaction further broadens the complement of services they can offer their clients.

ICG CEO Matt Warmuth said this transaction represents a significant step for ICG in their strategy to accelerate their growth in property tax services. Brown & Brown’s culture, size and scope of services will allow them to become a better, more dynamic and more efficient operation.

Finalization of the transaction is subject to the satisfaction of certain customary conditions.