Alliant Resources Acquires Calif.-based Austin, Cooper & Price

December 20, 2002

Alliant Resources Group Inc. (Alliant), an insurance brokerage and financial services distribution company, announced the acquisition of Calif.-based Austin, Cooper & Price Insurance Agency Inc. (ACP).

ACP is a full-service property and casualty agency focusing on property, liability, workers’ compensation and health insurance products. Founded in 1929, ACP is the largest independent agency in the San Bernardino and Riverside, California area, posting revenues in 2002 of $12 million. ACP’s customer-base covers a broad range of commercial clients consisting primarily of small- to medium-sized businesses. The agency also provides risk management and consulting services to clients, and places insurance in the standard and non-standard markets.

Alliant, an integrated national distributor of insurance and financial services aimed primarily at middle market clients, is pursuing an aggressive strategy of acquiring and partnering with leading firms throughout the country. Prior to ACP, Alliant acquired several independent insurance brokerage firms including San Diego-based Driver Alliant Insurance Services Inc. (formerly Robert F. Driver Co., Inc.), one of the oldest and largest independent brokerage firms in California.

ACP, advised on this transaction by Orlando-based Nexus Group, will continue operating as an autonomous company, reporting to the Driver Alliant group of companies. John Austin, Chuck Shanklin, and Judy Austin will continue in their existing roles at ACP.

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