Salt Lake City — PCF Insurance Services (PCF), a top 20 US insurance brokerage firm, has acquired 1 Source Business Solutions, a professional employer organization (PEO) specializing in employee benefits, payroll administration, HR compliance and consulting, and workers’ compensation administration for any sized company.

“1 Source is an award-winning, high-growth professional employer organization that helps businesses manage complex employee-related matters,” says Peter C. Foy, Chairman, Founder and CEO of PCF Insurance. “Their portfolio of services further enhances those available to clients through the PCF Insurance agency network along with creating collaborative opportunities for our partners.”

PCF Insurance’s Agency Partners benefit from access to an ever-expanding network of industry-leading talent, skills, and resources that drive value for their clients. 1 Source Business Solutions provides a highly complementary line of business for PCF Insurance partner agencies, mainly benefits brokerages, that will deepen their existing customer relationships. 

“Partnering with PCF was the easiest decision we made in the 12 years we’ve been in business. We immediately benefited from being Agency Partners, and it positively changed the lives of our employees,” says Robert Beck, Principal of 1 Source Business Solutions. “PCF Insurance shares our same values and goals and is allowing us to grow and build so much faster than we could on our own.”

The terms of the deal were not disclosed.