January 9, 2002
SureTec Announces Acquisition of PCL
HOUSTON, TEXAS (January 9, 2002) SureTec Financial Corp., Houston, Texas and
PCL Contract Bonding Agency, Lewisville, Texas, jointly announced today that
they are expanding the resources available to their customers by SureTec’s
acquisition of PCL. PCL specializes in bonding for contractors in Texas,
primarily in the Dallas-Fort Worth Metroplex and surrounding areas. Founded in
1985, PCL is the one of the largest surety-exclusive agencies in Texas.
PCL’s management and staff will continue to serve PCL’s customers as an
independent agency, with access to multiple surety markets.
"We are extremely excited about joining the growing SureTec team"
said Clem Lesch, of PCL. "We feel that joining this organization is an
opportunity for growth. Being part of a larger entity gives us access to
resources that will help our current and future clients."
"SureTec is going to strongly support the independent agent
system," said Steve Nelson of SureTec. "Our investment in PCL is but
one of many steps we will take to strengthen and expand our distribution system
and to support our agents".
The acquisition of PCL expands SureTec’s operations in North Texas and
complements its existing operations in Austin, Dallas/Fort Worth and Houston.
SureTec Financial is the parent of SureTec Insurance Company, a Texas domiciled
surety underwriter, and of SureTec Information Systems, a risk solutions
provider to the Texas construction and surety industry.
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