KKR acquires specialty insurance brokerage Alliant Insurance Services

Terms of the deal not disclosed but transaction is expected to close in 4Q

Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, KKR), a global investment firm, has signed an acquisition agreement with Blackstone to acquire its Alliant Insurance Services Inc. Terms of the transaction have not been disclosed.

Alliant Insurance Services is a Newport Beach, California-based specialty insurance brokerage.

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“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,” said Tom Corbett, chairman and CEO of Alliant, in a press release.

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.

JP Morgan Chase and Blackstone Advisory Partners served as advisers to Blackstone and Alliant on the transaction. The transaction is expected to close in the fourth quarter, subject to certain conditions.

 

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