The transaction is scheduled to close in early second quarter 2023. “Today’s announcement signals to the market that Burns & Wilcox is pursuing an aggressive acquisition strategy,” said the acquirer’s president, Danny Kaufman.
“McIntyre has a thriving business that meshes well with our large presence in Louisiana and throughout the Southeast,” Kaufman said. “We look forward to having Bart and his team join our team, while continuing to expand the Burns & Wilcox program across the region.”
Bart Dugdale, president of McIntyre, and his team of associates will remain with the company after the sale is officially closed. Dugdale will assume the role of Associate General Manager and will report to Bonnie Steen, vice president and managing director of Burns & Wilcox’s Louisiana and Arkansas divisions.
McIntyre & Associates was founded in 1998 by Dugdale’s father-in-law, Bill McIntyre, and has since spread its operations throughout Louisiana, focusing on contractors, landlord risk, catering, special events, and commercial packages, among others.
“Joining a global organization like Burns & Wilcox is the perfect choice for our company,” said Dugdale. “They are committed to investing resources to support our growth and will give our team tremendous opportunities for professional development.
“We were drawn to Burns & Wilcox’s independence and family ownership.”
Burns and Wilcox have made it clear that they want our office to play a vital role in the company’s future, according to Dugdale.
“Our team is looking forward to years of success as part of Burns & Wilcox,” said Dugdale.
The deal comes as Barbara Ingraham, director of integration at One180 Intermediaries, said that given rising interest rates and an uncertain economic landscape, the “mathematics” behind mergers and acquisitions is likely to undergo a change. Despite this, Ingraham said Business insurance In a recent interview, he said the M&A logic still applies, and the deal spree is set to continue.