WTW expands US West Coast presence with CFS acquisition

WTW, a global advisory, broking and solutions company, has announced the acquisition of CFS International Inc. (CFS), an US West Coast trade credit insurance company, into Willis.

CFS was founded in 1990 and specialises in delivering trade credit insurance solutions to global firms.

Facing an ever more intricate and competitive global landscape, CFS has worked towards establishing itself as a leader in delivering customised trade credit and trade finance solutions, helping their clients to compete internationally through superior credit risk management.

CFS’s acquisition demonstrates ongoing investment in its expanding trade credit operations, WTW noted. At the same time, this strategic move expands the company’s geographic reach and establishes a presence on the US West Coast.

Scott Burnett, Head of Corporate Mergers & Acquisitions for WTW’s Risk & Broking business, said: “The acquisition of CFS is our second in as many months. The first, Global Commercial Credit, expanded our trade credit footprint in the Midwest, while CFS enhances our coverage and service for clients and prospects on the West Coast.

“CFS aligns with our focus on specialised industries, expanding our resources and services nationwide. This deal strengthens our position as a leading trade credit provider and demonstrates WTW’s strategic investments to optimise our global portfolio and pursue high-growth broking businesses.”

Ralph Clumeck, President of CFS, commented: “After more than thirty incredible years in the trade credit insurance industry, I am proud to announce that our firm has been acquired by WTW, one of the world’s leading advisory, broking and solutions companies. This world-class organisation is a perfect strategic fit for our clients as the transition will provide them with broader access to the markets, a wider range of products and solutions, and the strength of one of the industry’s most respected names.

“As I step away from the business, I do so with confidence and gratitude, knowing that our clients are in excellent hands. Bridget Clumeck is excited to lead this next chapter, and she will continue to provide the exceptional service and support our clients have come to expect.”

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