Insurance services company Fortegra Financial Corp. has acquired Auto Knight Motor Club Inc., a Palm Springs, Calif., company that provides motor club membership, vehicle service plans and tire and wheel programs.
Jacksonville, Fla.-based Fortegra said the acquisition will broaden its existing motor club business, broaden its service capabilities and expand its reach into Canada. Auto Knight will be a platform for international growth, Fortegra said in a statement.
“We will provide the resources to support Auto Knight’s market expansion efforts, and Auto Knight will provide new distribution channels and service capabilities for our existing motor clubs,” Fortegra CEO Richard Kahlbaugh said in the statement.
The deal closed on Jan. 1. Terms of the transaction were not disclosed.
Fortegra’s insurance units include Life of the South and Bliss and Glennon, a managing general agency.
Topics Mergers & Acquisitions California Auto
Was this article valuable?
Here are more articles you may enjoy.
Dunkin’ Cashier in Georgia, Stabbed by Rapper, Can’t Claim More Than Workers’ Comp 
Pierce Named CEO of GEICO as Combs Resigns 
Litigation Finance Hits a Wall After Bets on Huge Gains Falter 
‘Dream Is in Sight:’ Chamber, Reinsurers, Insurers Urge Florida to Stay the Course 
