09 May Byars|Wright Reveals New Agency Ownership
Byars|Wright announces four new shareholders: Paul Burnett, Evan Chambers, Gabe Clement, Haig Wright III
Byars|Wright Insurance is proud to reveal the names of four new shareholders: Paul Burnett, Evan Chambers, Gabe Clement, and Haig Wright III. The transaction was completed in May and facilitated by Reagan Consulting. Under the new agreement, the 76-year-old agency has six owners.
Existing shareholders Haig Wright II and Skip Roberts, who will continue to hold their shares, congratulated the new owners on their investment.
“This is an important milestone for our agency and a significant achievement for each new shareholder” stated Haig Wright II, CEO of Byars|Wright. “We are proud of Paul, Evan, Gabe and Haig and believe they earned this opportunity. We look forward to their continued contributions to the agency, our clients, and a bright future for all.”
Plans for the transition were announced internally months before becoming official and received well by team members. Byars|Wright experienced substantial development in recent years due to the combination of organic growth, recruitment, and multiple acquisitions. Notably, it acquired Business to Business’s Employee Benefits assets in 2021 , which leadership says has proven successful. Following the announcement of new shareholders, expansion is sure to continue for Byars|Wright.
While this is a meaningful change for Byars|Wright, Wright says all four individuals were already established leaders within the agency and their communities.
Meet the newest shareholders:
Paul Burnett entered the new agreement after ten years at Byars|Wright and more than 20 years in the industry. Burnett is the head of Byars|Wright’s Human Resources and Branch Manager of the Gardendale office. Known for his expertise in grocery insurance, he is on the Alabama Grocer’s Association’s Board of Directors. He is also the Chief of the Jefferson County Sheriff’s Office Reserve Division.
Evan Chambers entered the new agreement after nine years at Byars|Wright. In 2018, Chambers was appointed to lead the agency’s third office in Alabaster following the acquisition of The Insurance Store. He will continue to serve as the Branch Manager there. As head of the agency’s Insurance Marketing Department, Chambers will continue building their team and strengthening relationships with carriers and company partners.
Gabe Clement entered the new agreement after eight years at Byars|Wright. He is currently the Sales Team Leader and Branch Manager of Byars|Wright’s Birmingham office. Clement joined the Associated Builders and Contractors of Alabama’s Board of Directors earlier this year and was awarded Top 40 Under 40 in Construction by the Alabama Associated General Contractors in 2020.
Haig Wright III entered the new agreement after 12 years at Byars|Wright. Wright is Branch Manager of the Jasper office, which serves as headquarters for the agency. Before moving back to lead the Jasper office, he helped open the Gardendale location in 2012 and worked in that office until 2021. He is on the Will Bright Foundation’s Board of Directors and is the Commercial Lines Chairman for the Alabama Independent Insurance Agents.
You can also find this news about Byars|Wright shareholders in the Birmingham Business Journal and Yahoo! Finance.
Byars|Wright, Inc. is a locally owned and operated independent insurance agency in Alabama serving various industries and customers across the Southeast. Since 1946, the agency has expanded its scope of business to include commercial, personal, life, and employee benefits insurance, delivering a wide range of insurance products with quality coverage at competitive prices. Relationship-driven and customer-focused, ByarsWright celebrated 75 years of protecting relationships in 2021. Byars|Wright is designated a Best Practices Agency by the Independent Insurance Agents and Brokers of America and was also named “Best Companies to Work For in Alabama” by Business Alabama in 2016, 2017, 2018, 2019, 2020 and 2021. In 2020 and 2021, Byars|Wright won first place in their category as the number one Best Company To Work For in Alabama. Byars|Wright is Where Relationships Matter. www.byarswright.com