Alliant Resources Group Acquires Kelter-Thorner, Inc.Business Editors STAMFORD, Conn.--(BUSINESS WIRE)--Jan. 31, 2002 Michigan's largest independent insurance broker becomes first Midwest partner of national insurance and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. distributor Adding a key Midwestern component to its national operations, Alliant Resources Group, Inc. (Alliant), today announced the acquisition of Michigan-based Kelter-Thorner, Inc. (KT), a full-service property and casualty agency specializing in lawyers' professional liability and real estate industry insurance coverage. Specific terms of the deal have not been disclosed. Alliant, an integrated distributor of insurance brokerage and financial services aimed primarily at middle market clients, has pursued a national acquisition strategy since the company's incorporation in 1999. Prior to KT, Alliant acquired San Diego-based Robert F. Driver Co., Inc., one of the oldest and largest independent brokerage firms in California. Driver joined Alliant in June of 2001 to anchor Alliant's West Coast region. Headquartered in Birmingham, MI, with offices in Chicago, KT, founded in 1930, is the largest independent insurance brokerage firm in Michigan. A full-service property and casualty agency with a specialty focus on the legal profession and real estate industry, KT posted revenues of $12 million in 2001. Offering its clients a wide range of property, casualty and benefit products, KT is a nationally regarded provider of insurance and risk management services to the real estate industry, serving developers, property managers, owners and contractors. In addition, KT is a recognized leader in the area of lawyers' professional liability coverage, offering innovative solutions for midsize and large law firms This list of the world's largest law firms by revenue is taken from The Lawyer and The American Lawyer and is ordered by 2006 revenue:[1]
"With the acquisition of Kelter-Thorner, Alliant continues its strategic plan to acquire leading firms with outstanding management teams that are a dominant force in their geographic area," said Alliant Chief Executive Officer John Addeo. "Under the direction of KT's existing management team, we look to double the size of the company over the next three years through internal growth and strategic acquisitions." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. KT President Michael Kelter Kel´ter n. 1. Regular order or proper condition. If the organs of prayer be out of kelter or out of tune, how can we pray? - Barrow. Noun 1. , "The partnership with Alliant enables KT to continue the strategic expansion of its distribution base within the legal and real estate industries, while providing the necessary capital to support the growth of our operations both externally and organically." Michael Kelter and Marilyn Chernoff will continue in their present roles of president and co-chairman, respectively, of Kelter-Thorner and its subsidiaries, and will oversee Alliant's operations in the Michigan area. Mr. Kelter will also become a member of Alliant's operating committee. Alliant is aggressively pursuing additional acquisitions and strategic partnerships throughout the country. About Alliant Resources Group, Inc. Alliant is an integrated national distributor of insurance and financial services products, reaching a broad base of middle market clients through a growing network of operating companies operating company A business that engages in transactions with outsiders. . Founded by John Addeo, William Robinson William Robinson, or Will Robinson or Bill Robinson or other nicknames, may refer to:
Alliant's business plan contemplates rapid expansion over the next several years through the selective acquisition of high-quality regional insurance brokerage firms that possess strong management teams and demonstrated records of growth, profitability and quality service. Strong sales management Sales Management Role and Goal Importance of sales management is critical for any commercial organization. Expanding business in not possible without increasing sales volumes, and effective sales management goal is to organize sales team work in such a manner that ensures a as well as cross selling of insurance products are key components of Alliant's marketing strategy. About GTCR Golder Rauner, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control GTCR is a Chicago-based private equity firm currently managing over $4 billion in equity and subordinated debt Subordinated Debt A loan (or security) that ranks below other loans (or securities) with regard to claims on assets or earnings. Also known as "junior security" or "subordinated loan". capital. Founded in 1981, GTCR is one of the most highly respected private equity firms in the country. GTCR's investment approach is to provide capital to experienced management teams to grow their business internally and through acquisition in fragmented and consolidating industries. GTCR currently has approximately 65 portfolio company investments primarily in the business services sector of the economy. For more information about Alliant Resources Group, please contact Alliant CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. John Addeo directly at (203) 353-0522. For more information about GTCR Golder Rauner, please contact Joseph Nolan Joseph Nolan (born 1846) was an Irish Nationalist Member of Parliament for North Louth from 1885-92, and for South Louth from 1900-18. Nolan was a native of County Louth. He was originally a schoolteacher, in Ireland and then in Liverpool. at (312) 2227. |
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