Fortegra Financial Acquires Auto Knight Motor Club, Inc.
03 Januar 2011 - 1:30PM
Business Wire
Fortegra Financial Corporation (NYSE: FRF) today announced that
it has acquired Auto Knight Motor Club, Inc., of Palm Springs, CA.
This strategic acquisition adds to Fortegra’s existing motor club
business, expanding the Company’s product line and distribution
channels, broadening its service capabilities and establishing
Fortegra's international presence.
Auto Knight Motor Club provides motor club membership, vehicle
service plans and tire and wheel programs, which are offered by
automobile and truck dealerships and retailers. The acquisition
expands Fortegra’s geographic reach to Canada, where Auto Knight
offers its products through retailers as a subscription benefit.
Auto Knight has existing relationships with iconic brands, such as
Valvoline, XM Canada, Mercedes Experimental and American Car Care.
Additionally, Auto Knight has its own multi-lingual call center to
provide customer support for its programs.
"We are excited about the opportunities that Auto Knight Motor
Club brings to Fortegra, including its ability to serve as a
platform for international growth. We will provide the resources to
support Auto Knight’s market expansion efforts, and Auto Knight
will provide new distribution channels and service capabilities for
our existing motor clubs. Moreover, we will continue Auto Knight’s
dedication to provide the best products and the highest level of
service to its customers,” said Richard S. Kahlbaugh, Chairman and
CEO of Fortegra Financial.
The transaction closed effective January 1, 2011. The terms of
the transaction were not disclosed.
About Fortegra
Fortegra Financial Corporation is an insurance services company
that provides distribution and administration services and
insurance-related products to insurance companies, insurance
brokers and agents and other financial services companies in the
United States. It sells services and products directly to
businesses rather than directly to consumers. Fortegra's brands
include Life of the South, Consecta and Bliss & Glennon.
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