Montgomery, Ala.-based Alfa Corp. has purchased Vision Insurance Group of Brentwood, Tenn.
The transaction involved $20 million in cash and stock, with an additional purchase consideration of as much as $14 million, based on future performance.
John Russell, Vision president, founded the managing general agency in 1997. The company has 130 employees, annual revenues of $30 million and operations in nine states. Montgomery, Ala.-based Alfa (NASDAQ: ALFA) is forming a subsidiary – Alfa Vision Insurance Corp. – through which Vision will write its nonstandard auto business. Alfa is a member of the Alfa Insurance Group, which has combined assets of about $4 billion.
Topics Mergers & Acquisitions Alabama
Was this article valuable?
Here are more articles you may enjoy.
Walmart Removes Four Taylor Farms Salads as Recalls Spread 
Iran Renews Attacks on Gulf States After Another Night of US Strikes 
One Weather Firm Warns New England Could See Big Hurricane This Season 
Farmers Looks to Make it Easier for Consumers to Understand Insurance 
