Heffernan Insurance Brokers Entity Acquires Costello Insurance Associates: Heffernan Insurance Brokers

2024 JUL 24 (NewsRx) -- By a News Reporter-Staff News Editor at Mergers & Acquisitions Daily News -- Heffernan Insurance Brokers, one of the largest full-service, independent insurance brokerage firms in the United States, has acquired Costello Insurance Associates, formally adding aviation expertise to its suite of services. Located in Tempe, Arizona, Costello joined as Heffernan’s aviation specialty practice effective May 1, 2024, and will report into Heffernan’s Phoenix branch office. Terms of the transaction were not disclosed.

Pat Costello is a pilot and flight instructor with nearly 4,000 hours and founded the agency in 1991. Costello aids clients throughout the United States in obtaining coverage for corporate and pleasure aircraft, including jets, gliders, and drones, as well as operations such as flying clubs, flight schools, and airports. Pat Costello and his team of five employees will continue to service their new and existing customers while providing a solution to cross sell existing Heffernan aviation clients.

“Costello Insurance Associates joined Heffernan Insurance Brokers with the understanding we could complement each other. Every indication is that will be the case and the clients will benefit. What stands out is how helpful and nice the people at Heffernan are. The Costello staff and I feel truly fortunate to become a part of the family,” said Pat Costello, now Vice President of Heffernan Insurance Brokers.

“We’re pleased to expand our Phoenix metropolitan area footprint with the addition of Costello Insurance Associates. Costello’s aviation expertise is a welcome addition to our existing specialty practices. The knowledge and experience of Pat and his team are well respected in the industry, and we’re excited to have them onboard,” said F. Michael Heffernan, President and CEO of Heffernan Insurance Brokers.

As part of the next phase of Heffernan’s growth strategy, we are interested in collaborating with privately held independent brokers across the United States. If you are interested in learning more, please contact Matt McKenna, Director of Corporate Development, at 925-746-7962 or matthewmc@heffgroup.com.
Keywords for this news article include: Aviation, Heffernan Insurance Brokers, Mergers and Acquisitions.

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