TrueNorth acquires Chicago area agency
'Flagship' office will expand Illinois presence
George C. Ford
TrueNorth, a Cedar Rapids agency specializing in insurance and financial strategies, has acquired a more than 100-year-old insurance agency in the Chicago suburb of Des Plaines, Ill.
Meeker-Magner will serve as a flaghip office for TureNorth’s expanded presence in Illinois.
“As we continue to broaden our national footprint, our intention is to expand the TrueNorth presence within the state of Illinois,” said Duane Smith, TrueNorth’s CEO in a news release. “The 100-plus-year reputation that Meeker-Magner has established in the Chicagoland area is a very strong foundation for the combined organizations to continue to grow on.”
With 12 offices in seven states, TrueNorth ranks as the 50th largest privately owned brokerage in the United States. Smith said the continued growth strategy of his company will lead to additional buyouts.
Gerry Magner, president of Meeker-Magner, and his son, Rusty Magner, will remain active in the family-owned and operated insurance agency.
“Our partnership with TrueNorth will allow us to further enhance our creative solutions and provide the advantage of added resources dedicated to the success of our clients business and protection of their assets,” said Gerry Magner in the news release announcing the merger.
TrueNorth has additional Iowa locations in Cedar Falls, Des Moines, and the Quad Cities. It operates sales offices in Colorado, Illinois, Kansas, Michigan, Tennessee, and Texas.