Alternative Service Concepts Acquires Strategic Book of Business from Unisource Administrators, Inc.
7/16/2008
NASHVILLE, TN (July 16, 2008) – Alternative Service Concepts (ASC), a full-service, workers’ compensation and property & casualty third party claims administrator, today announced the acquisition of certain business contracts from Unisource Administrators, Inc., a Sarasota, Florida-based insurance services provider.
The acquired client base includes approximately 40 self-insured businesses and public entity pools located in Florida, Georgia, and Alabama. ASC is expected to retain offices and staff in Sarasota, Florida; Orlando, Florida; and Atlanta, Georgia, which will serve as a springboard for ASC’s growth plans in the Southeast.
“This represents a key acquisition and will fit nicely into ASC’s aggressive growth plans,” notes Bob Bennett, CEO of ASC. “We will continue to focus on strategic acquisitions as well as organic growth in the self-insured market to achieve our revenue goals.”
“ASC has 19 offices across the nation but doesn’t have a presence in one of the largest self-insured markets in the nation. This acquisition will give us a strong foothold in Florida and allow us to better serve our national accounts,” states Bennett.
“This transaction benefits our employees and customers,” said Andy Olwert, President and CEO of Unisource Administrators. “The sale of our self-insured business to ASC positions us to focus on the national expansion of our Program Administration business through the Independent Agents and continue to provide quality service to Florida businesses.”
StoneRidge Advisors, LLC acted as financial advisor to ASC.