WCF Insurance, a workers' compensation carrier headquartered in Sandy, is buying a national specialty insurer in a deal that will extend the company's reach into all 50 states.

The company announced Tuesday, Aug. 11, that it has signed an agreement to purchase Work First Casualty Company, which provides workers' compensation exclusively to the temporary staffing industry. The transaction is expected to close around Dec. 1. Financial terms were not disclosed.

The announcement came via a press release published by Utah Business.

The acquisition gives WCF a dedicated product for the staffing sector, a segment it had not previously served, and access to Work First's licenses in all 50 states.

WCF CEO and President Matt Lyon said Work First has spent two decades becoming the top carrier for temporary staffing companies and their workers. "Bringing these two teams together deepens that strength, and we intend to invest in what makes WorkFirst exceptional, not change it," Lyon said.

Work First, founded in 2005 and based in Salt Lake City, carries an A (Excellent) rating from AM Best and employs between 11 and 50 people, according to its LinkedIn profile. President Jamie Madden and the full leadership team will stay in place after the deal closes, and the company will continue operating under its own brand. Brokers and policyholders will see no changes to coverage, service teams or points of contact.

WCF called the acquisition part of its strategy to grow within its core workers' compensation business. The company was founded in 1917 and operates from its headquarters at 100 W. Towne Ridge Parkway in Sandy, with additional offices in Murray, Ogden and St. George. It reports more than $1.5 billion in policyholder surplus and holds an A (Excellent) AM Best rating of its own. A third-party directory lists the company at more than 350 employees, though WCF has not confirmed that figure.

Madden said WCF stood apart among potential partners because of its specialty expertise, shared values and financial strength as an A-rated national carrier. The two companies plan a phased integration after closing.

Sherman & Company advised WCF on the transaction. Keefe, Bruyette & Woods, a Stifel company, advised Work First.

The next milestone is the anticipated close date around Dec. 1, after which parallel operations and integration planning begin.