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Morgan Partners Advises Lowry & Associates, Inc. on its Sale to ReSource Pro

Morgan Partners Advises Lowry & Associates, Inc. on its Sale to ReSource Pro
We could not be more pleased with our selection of Morgan Partners to represent us in this process. It was a big decision to entrust the sale of Lowry & Associates, which my father and I built over three decades, to Morgan Partners and they delivered. Fred Lowry Jr. President, Lowry & Associates Fred Lowry Jr.
September 03, 2024

WELLESLEY, Mass., September 3, 2024 – Morgan Partners is pleased to announce that our client Lowry & Associates, Inc. (“Lowry”), a leading independent premium audit and underwriting survey solutions provider based in Draper, UT, has been acquired by ReSource Pro, LLC (“ReSource Pro”), a leading strategic operations partner to insurance organizations.

Founded in 1989, Lowry has seen remarkably steady growth over several decades and is consistently at the forefront of technological innovation within its field, allowing it to sustain a competitive advantage over its peers. The Company’s proprietary training program ensures its workforce reliably produces work of the highest quality, yielding industry-leading customer satisfaction and retention rates.

“We could not be more pleased with our selection of Morgan Partners to represent us in this process. It was a big decision to entrust the sale of Lowry & Associates, which my father and I built over three decades, to Morgan Partners and they delivered. They established realistic expectations which they exceeded and orchestrated the entire process from beginning to end. Morgan Partners integrity and professionalism was critical to the process. We are thrilled with the results and we look forward to the next phase of the business with ReSource Pro,” said Fred Lowry Jr., President of Lowry & Associates.

“Fred Jr. and Fred Sr. have established one of the most well-respected companies in the insurance services market. Joining forces with ReSource Pro is a great fit, both from a culture perspective as well as with each firm’s longstanding commitment to technology,” commented Hugh Keefe, Managing Director at Morgan Partners.

Morgan Partners served as exclusive financial advisor to Lowry & Associates, Inc., and terms of the deal were not disclosed. More information can be found here.

About Lowry & Associates

Founded in 1989 and based in Draper, UT, Lowry is a leading independent premium audit and underwriting survey solutions provider that serves many of the largest and fastest growing carriers and MGAs in the insurance space.

About ReSource Pro

Focused exclusively on the insurance industry, ReSource Pro is a trusted strategic operations partner to insurance organizations seeking to increase their productivity and profitability. With a global team of more than 10,000 employees, ReSource Pro operates at the critical intersection of people, process, technology, and data to serve more than 1,800 clients across the carrier, broker, and MGA segments – consistently earning a +96% client retention rate for over a decade. It offers expert advisory services, proven business process management optimization and transformative data and technology solutions. It was recognized in 2024 by Inc. 5000 as one of the fastest growing companies in the US.

About Morgan Partners

Morgan Partners is a highly focused middle-market financial technology investment bank. Our tailored, expert services, deep industry relationships, and vertical domain expertise allow us to provide “best execution” simply not available at other firms. Our services consist of sell-side and buy-side M&A, capital raising, and strategic advisory to technology companies in the insurance, capital markets, banking, and related sectors. Visit www.morganpartners.com to learn more.