Accel Group Expansion

posted in Economic Development on June 26, 2019

An insurance company with Waverly roots is constructing a new headquarters building to accommodate present and future growth.

The Accel Group has outgrown the leased space they presently occupy. Mike Byl, President of The Accel Group, said as the company grew there have been discussions about the best location for their headquarters, and while other communities were considered, ultimately Waverly was chosen.

“At the end of the day, our agency was founded in Waverly and that’s where we believed it should be”, he said.

The company will occupy 15,000 square feet on two levels at 319 Oak Ridge Drive. The move is anticipated to take place in Fall 2019.

The state-of-the-art office building will feature collaborative spaces, designated areas for video conferences and meetings, a café with outdoor patio for employees, and 1,750 square feet of open space for employee and client events.

The company was founded in 1936 as a small business selling automobile and life insurance. In 2010, The Accel Group was formed, adding a 401(k) and employee benefit division of Net Worth Advisors, a move that allowed the company to expand the services they offer. In January 2018, the Cedar Rapids, Iowa-based Millhiser Smith Insurance Agency joined The Accel Group. The merger resulted in the formation of one of the largest Iowa-based agencies in the state and positioned the company to provide more services, like loss control, employee/employer education, and human resource services.

Byl expressed his optimism for the future. “As a company, we are very committed to internal perpetuation and are bringing new young owners into our company,” he said. “We will continue to expand our footprint. We believe the future looks bright and are excited to continue to see the agency evolve.”

A high quality of life, friendly and progressive merchants, and a college town atmosphere; this is Waverly, Iowa.