Hub International Transportation Insurance Services (HUB Transportation) has acquired Templeton Southwest Insurance Agency and Templeton Southwest of Houston Insurance Agency, Texas-based insurance brokers specializing in commercial trucking insurance services. Terms of the transaction were not disclosed.
Located in San Antonio, Templeton has approximately $3.3 million in annualized revenue. Dennis Templeton, who founded the company in 1982, will become vp of Hub Transportation’s Texas-based operations.
“The Templeton acquisition presents an impressive market opportunity to expand throughout the state of Texas,” said Dale Kaufman, CEO of Chicago-based Hub Transportation. “It also supports our initiative to further expand and intensify our transportation specialty focus.”
The Templeton acquisition marks Hub’s second foray into the Texas market, as earlier this year it bought the The Rigg Group, another larger trucking insurance broker in the Lone Star state.