Alliant Insurance Services Acquires Acceptance Insurance Agency of Tennessee (AITN) from First Acceptance Corporation
December 4, 2023
Alliant Insurance Services, Inc. acquired Acceptance Insurance Agency of Tennessee, Inc. (AITN), the retail agency operations of First Acceptance Corporation, for up to $120 million in cash and contingent payments. The transaction transfers AITN's 288 leased retail locations (operating in 13 states) to Alliant; Confie (an Alliant portfolio company) and certain affiliates will operate as independent agents for First Acceptance Insurance Group's non-standard auto products going forward.
- Buyers
- Alliant Insurance Services, Inc.
- Targets
- Acceptance Insurance Agency of Tennessee, Inc. (AITN)
- Sellers
- First Acceptance Corporation
- Industry
- Insurance
- Location
- Tennessee, United States
- Transaction Type
- Buyout
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