Anthony Clark International Insurance Brokers Ltd. announced Wednesday that it has reached an agreement to purchase all of the assets of a California based brokerage.

The Calgary-based firm, which was founded in 1989, has expanded through internal growth and the acquisition of 18 general insurance brokerages.

The California acquisition marks Anthony Clark’s first foray into the U.S. market and is part of firm’s strategic plan to expand into the U.S.

The purchase is expected to generate approximately $1.8 million in new revenues for an estimated 35% increase in annualized revenues.

The acquisition, which is expected to close on or before May 31, will be paid for with cash and vendor financing.