KMG Equity Partners has purchased ESCO, a pioneer and provider of loss and damage coverage for the hearing aid market.
ESCO, the early pioneer and the longstanding leader of loss and damage coverage for hearing aids, was purchased by KMG Equity Partners, LLC. KMG’s diverse portfolio will allow ESCO to bring a full range of insurance products to the hearing industry.
Consisting of Kathleen Kuntz, Dave Mumm, and Jim Guthier, KMG Equity Partners took ownership of ESCO Agency on January 3, 2023.
Kathleen Kuntz sits on the board of operations for KMG Equity Partners. She also serves as chief operations officer at ESCO. Kuntz has been part of the ESCO team since its inception. Over the last 25 years, she has witnessed many changes in the hearing and insurance industry.
“I’m so proud to have been part of ESCO’s growth and success for all of these years,” said Kuntz.
Dave Mumm, the “M” in KMG Equity Partners, has been with ESCO since 1996. Mumm recently took on the role of chief financial officer. Mumm is responsible for the financial operations of the organization, as well as the administrative and risk management functions of ESCO.
Past ESCO president Jim Guthier is currently the CEO of KMG Equity Partners. Guthier has been in the hearing aid industry and related fields for over 45 years, primarily with three of the “big six” hearing aid manufacturers.
“Together, Dave, Kathleen, and I agree, this acquisition will allow us to take ESCO to the next level of growth, innovation, and success,” said Guthier.