Investment Firm KKR to Acquire Alliant Insurance from Blackstone

November 25, 2012

Global investment firm Kohlberg Kravis Roberts & Co. L.P. said it will acquire  Alliant Insurance Services Inc., a specialty insurance brokerage firm based in California, from another investment firm, Blackstone, which acquired its interest in Alliant in 2007. Terms of the transaction were not disclosed.

The management team and employees of Alliant own approximately 45 percent of the company and will roll over a substantial portion of their investment in the company, according to the announcement.

Tom Corbett, chairman and CEO of Alliant said, the transaction “will enable Alliant to remain independent and maintain its market leading position.”

The transaction is expected to close in the fourth quarter.

Headquartered in Newport Beach, Calif., Alliant Insurance Services Inc. is one of the largest insurance brokerage firms in the United States and has a history dating back to 1925. Alliant provides property/ casualty, workers’ compensation, employee benefits, surety, and financial products and services to 20,000 clients nationwide, including public entities, tribal nations, healthcare, energy, law firms, real estate, construction, and other industry groups.

Alliant’s companies includes Driver Specialty Group, Alliant Specialty Insurance Services, Alliant Risk Services Group, Franey Muha Commercial Group and Kelter Commercial Group.
 

 

 

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Latest Comments

  • January 2, 2013 at 6:10 pm
    George Burns says:
    "with an eye on their wallet" is what a business person is supposed to do, isn't it. The purpose of being in business is to maximize return on investment. The CEO is supposed ... read more
  • November 30, 2012 at 1:41 pm
    laffer curve says:
    Tom Corbett, chairman and CEO of Alliant said, the transaction “will enable Alliant to remain independent and maintain its market leading position.” What an about face ove... read more
  • November 26, 2012 at 3:00 pm
    Mike L says:
    That was not the case when KKR bought Willis, in fact they were very "arms length" about the whole thing.
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