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Springfield, MO

Springfield insurance firm sells

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Bohrer-Croxdale & McAdoo Inc., a more than 40-year-old Springfield insurance firm, sold to Spokane, Washington-based Cochrane & Co.

Toni Gillette, office manager for the Springfield location now operated by Cochrane & Co., said the transaction for undisclosed terms closed Jan. 1. Bohrer-Croxdale & McAdoo was fully converted to Cochrane & Co.’s Springfield division on Feb. 20. Gillette, who worked for Bohrer-Croxdale & McAdoo prior to the change, became human resource director for Cochrane & Co. through the sale.

“Some carriers and markets that we did not have access to, we do have access to now, which obviously makes us a lot more competitive,” Gillette said, declining to name the carriers.

Gillette said Sydney Croxdale, one of the original founders, and her son Chris Akins sold the company after conversations with Cochrane & Co. owner Tom Cochrane started at a conference. Croxdale, who had been “operating at a distance for a while,” and Akins did not stay on board through the transition, Gillette said. She said Akins agreed to exit as a condition of the sale.

Cochrane & Co., which also operates two offices in California and a branch each in Arizona, New Mexico and Montana, last year produced more than $100 million in revenue, Gillette said. Bohrer-Croxdale & McAdoo recorded $8 million to $10 million in revenue during 2017, she said.

Cochrane & Co.’s Springfield office offers commercial lines of insurance such as property and casualty, transportation, professional and personal, and bonds.

Gillette said the five-employee Springfield office also relocated to 4350 S. National Ave. from 601 South Ave.

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