company overview
Leavitt Group Enterprises (“LGE”), based in Cedar City, Utah, was founded in 1952 and is a top 25 national insurance broker with revenues in excess of $500 million. LGE brokers a mix of commercial lines insurance, personal lines insurance and employee benefits products to accounts nationwide. The Company has over 250 offices in 27 states and employs more than 2,700 people. LGE’s book of business is well diversified but anchored in its commercial lines unit which comprises 48.8% of the Company’s revenues. LGE focuses on small and middle market commercial lines accounts. LGE also has strong personal lines and employee benefits units that comprise 25.7% and 25.1% of the revenue, respectively. This mix of business is attractive and allows LGE to cross sell products to all of its customers. 13PE10 participated in a co-investment into the company alongside Capital Z Partners, with whom AIM13 has had a longstanding relationship.
leadership
Eric Leavitt
CEO & Executive Chairman
Mr. Leavitt is President of Leavitt Group Enterprises, the parent company of the Leavitt Group, a network of over 115 independent insurance agencies located in 14 states. Mr. Leavitt currently serves on the Board of Directors of the Council of Insurance Agents and Brokers; the Board of Directors and Executive Committee of Zions First National Bank, a large regional bank located in Utah and Idaho; the Board of Trustees of Southern Utah University; and the Board of Directors of Southwest Applied Technology College. He has also served on the Board of the Utah Chapter of the Professional Insurance Agents Association, the Board of Georgia Mutual Insurance Company, as well as on the agent advisory councils of numerous insurance companies. Prior to joining the Leavitt Group, Mr. Leavitt worked for five years in the independent power industry developing cogeneration projects in Massachusetts, Vermont, Utah, and California. Mr. Leavitt is a native of and currently resides in Cedar City, Utah. He is a 1986 graduate of the University of Utah and a 1988 graduate of the William E. Simon Graduate School of Business Administration at the University of Rochester in Rochester, New York. While at the Simon School, Mr. Leavitt received the prestigious John M. Olin Fellowship awarded to five students in each Simon School class in recognition of academic excellence.
investment date
November 2024
Industry
Insurance
headquarters
Cedar City, UT