January 3, 2011- Jacksonville, FL - 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.
SOURCE: Fortegra Financial
Corporation
Fortegra Financial Corporation
Investor Relations
904-350-9660 x 8500