Published: November 23, 2012
Press Release
KKR to Acquire Alliant Insurance Services, Inc. from Blackstone
NEW YORK - (BUSINESS WIRE) - Leading global investment firm Kohlberg Kravis Roberts & Co. L.P.
(together with its affiliates, "KKR" ) (NYSE: KKR) today announced an
agreement to acquire Alliant Insurance Services, Inc., the nation's
largest specialty insurance brokerage firm, from Blackstone (together
with its affiliates, "Blackstone" ) (NYSE: BX).Terms of the transaction
were not disclosed.
Tom Corbett, Chairman and CEO of Alliant said, "This transaction marks
the next phase of Alliant's growth and offers us an exciting opportunity
to continue to build the business and offer best in class products and
services to our clients. We are pleased to be partnering with KKR and
appreciate the positive role that private capital can play in helping us
manage our business and execute a growth strategy. This transaction will
enable Alliant to remain independent and maintain its market leading
position."
The management team and employees of Alliant own approximately 45% of
the company and will roll over a substantial portion of their investment
in the company.
To read the complete release at NewsBlaze,
KKR to Acquire Alliant Insurance Services, Inc. from Blackstone,
Click here
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