Aug 5, 2003 – Alliant Resources Group acquires Franey, Parr & Muha, Inc. and Colonial Healthcare, Inc.
Alliant Resources Group Acquires Franey, Parr & Muha, Inc.
and Colonial Healthcare, Inc.
STAMFORD, Conn.–(BUSINESS WIRE)–Aug. 5, 2003–Alliant Resources Group, Inc. (Alliant), the
twenty-first largest U.S. insurance brokerage and financial services distribution company, announced today
that it has acquired Maryland-based Franey, Parr & Muha, Inc. (FPM) and Colonial Healthcare, Inc.
Headquartered in Lanham, Maryland with offices in Chantilly, Virginia, FPM was founded in 1973 by Bill
Franey. FPM is a full-service property and casualty agency focusing on commercial package, property,
liability, surety, professional liability and workers’ compensation coverage. FPM’s customer base covers a
broad range of commercial clients consisting primarily of small to medium-sized businesses in Virginia,
Maryland and the District of Columbia. FPM also has a worldwide program serving the conservation
community. The agency provides risk management and consulting services to clients, and places insurance
with leading carriers in the standard and non-standard markets.
CHC, with offices in Maryland and Pennsylvania, is an FPM affiliate specializing in self-funded health
insurance programs and employee administrative services for private and public employers. CHC’s full
range of administrative services includes claims adjudication, member and provider services, and
enrollment and information management services to provider organizations that offer health care coverage
directly to employer groups. CHC also designs and implements self-funded and alternative market workers’
compensation and integrated disability programs.
“The FPM and CHC acquisitions provide a mid-Atlantic platform to build an expanded presence in a
geographic area that is important to Alliant’s long-term growth and acquisition strategy. It also brings
further diversification of products and services to our existing operations,” said Alliant’s founder and Chief
Executive Officer, John Addeo. “The staff and management of FPM and CHC are excited about the
opportunity to become part of the Alliant family of companies. We’re also pleased to be a part of a dynamic
company with plans and resources for continued growth through strategic acquisitions,” added Bill Franey.
FPM and CHC will continue operating as autonomous companies headed by Bill Franey, John Muha and
the current management teams.
Mystic Capital Advisors Group, LLC represented both FPM and CHC with each of their respective
About Alliant Resources Group, Inc.
Alliant is a national distributor of insurance and financial services products, reaching a broad base of
middle market clients through a growing network of operating companies.
Alliant was founded by John Addeo and equity partner GTCR Golder Rauner, LLC in March, 2000.
Alliant’s business plan contemplates rapid expansion over the next several years through the continued
selective acquisition of high-quality regional insurance brokerage firms that possess strong management
teams and demonstrated records of growth, profitability and quality service. Strong sales management, as
well as cross selling of insurance products, are key components of Alliant’s marketing strategy. Alliant’s
revenues for 2002 were in excess of $112 million.
Alliant has completed seven acquisitions and is aggressively pursuing additional acquisitions and strategic
partnerships throughout the country to complement its existing operating companies and products.