Partner takes full control at Meadors, Adams & Lee insurance firm
by March 11, 2016 1:41 pm 1,041 views
Meadors, Adams & Lee, one of Arkansas’ oldest and largest independent insurance agencies, announced today that partner Roberts Lee has acquired all stock in the company and is now sole owner of the agency. Terms of the private transaction were not disclosed.
Prior to the transaction, Lee and Andrew Meadors were equal owners and partners in the firm.
Lee, who joined Meadors, Adams & Lee in 1999, said he’ll remain committed to running the business successfully as it has for more than a century.
“Our company has seen a lot of change in its 107-year history,” said Lee. “This is the next chapter. But the one thing that will not change is our commitment to the people and business community of Arkansas.”
Meadors joined the company in 1987 and became a partner in 1999. He says this transaction will allow him to pursue other interests and opportunities.
“I plan to cast a wide net in a number of different areas as I decide what to do next and am looking forward to where the future leads me,” Meadors said. “Sports, entertainment, business, risk management, or a combination thereof, are likely landing areas. Roberts deserves this opportunity. He is an outstanding insurance producer and I’m impressed he was able to pull this off.”
Lee said that he anticipates no changes for employees.
The two partners explored selling the agency – just as many of their competitors had recently done. While there was a great deal of interest, Lee said he was simply not interested in selling.
“I had more work to do and maintaining local ownership was important to me and to our customers,” Lee said. “With that in mind, it led to me offering to purchase Andrew’s stock.”
Allan Meadors, Andrew’s father, purchased the agency in 1964 and will remain with the company. Meadors, Adams & Lee was founded in 1909 and employs a staff of 35 from their offices in Little Rock’s River Market district. The agency offers a comprehensive range of business and personal insurance services along with employee benefit offerings.