Fortegra Financial Acquires California Motor Club
Insurance services company Fortegra Financial Corp. has acquired Auto Knight Motor Club Inc., a Palm Springs, Calif., company that provides motor club membership, vehicle service plans and tire and wheel programs.
Jacksonville, Fla.-based Fortegra said the acquisition will broaden its existing motor club business, broaden its service capabilities and expand its reach into Canada. Auto Knight will be a platform for international growth, Fortegra said in a statement.
“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,” Fortegra CEO Richard Kahlbaugh said in the statement.
The deal closed on Jan. 1. Terms of the transaction were not disclosed.
Fortegra’s insurance units include Life of the South and Bliss and Glennon, a managing general agency.
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