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.”
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Approximately 45 percent of Alliant is currently owned by the company’s management team and employees, who will roll over a substantial share of their investment in the deal, which is expected to close in the fourth quarter, subject to certain conditions.
On the acquisition, Tagar Olson, a member of KKR, said his company was “excited to partner with the Alliant team as it builds on the successful track record of product innovation, platform expansion, and accretive acquisition activity in the specialty insurance marketplace.”
According to Olson, Alliant’s leadership team “has built a unique insurance distribution franchise that is differentiated in its expertise, product offerings, and client relationships.” Chinh Chu, Senior Managing Director of Blackstone, said, “Alliant’s deep entrepreneurial culture combined with best in class specialized products have allowed it to stand out as an industry leader.”