NU Online News Service, Dec. 23, 11:30 p.m. EST
Arthur J. Gallagher says it acquired a healthcare broker inColoradowhile the private equity firm Genstar Investors says it acquired a program administrator inTexas.
Yesterday, Itasca, Ill.-based insurance broker Arthur J. Gallagher & Co. said it acquired Kahl Insurance Services, LLC, inEnglewood,Colo.
Established in 2000, Kahl Insurance is a retail property and casualty and risk-management insurance-brokerage firm that is dedicated exclusively to the healthcare industry. It offers risk-management programs and services to healthcare-provider clients, including hospitals, physician practice groups, integrated delivery groups, outpatient clinics, long-term care facilities, blood banks, and managed-care organizations throughout the United States.
Steven E. Kahl and his staff, approximately seven employees, will continue to operate in their current location under the direction of James McFarlane, Western regional manager of Gallagher’s retail P&C brokerage operation.
Today, San Francisco-based private equity firm Genstar Capital, LLC, says it acquired Innovative Aftermarket Systems (IAS), a warranty program administrator and marketer of vehicle protection products and related services sold through franchised automobile dealers.
Headquartered in Austin, Texas, IAS offers a portfolio of finance and insurance products and services to car dealerships including anti-theft protection; tire and wheel coverage; windshield repair and replacement; key replacement; paint-less dent repair and appearance protection systems. IAS also offers guaranteed asset protection (GAP) that pays the difference between the actual cash value and loan balance of an automobile if a customer’s vehicle is stolen or totaled in a collision.
The company’s products are offered predominantly through a network of independent agents to automobile dealers in 49 states.
Terms of both transactions were not released.