To take advantage of the rapid expansion of certain specialty insurance products and service lines in the region
The Wyncrest Group is negotiating for six business acquisitions. Each business was prospected and targeted for synergies and growth with Southwest Financial Group, Wyncrest’s flagship subsidiary.
The firm has said that the letters of intent are expected to follow in 30 to 60 days, followed by the due diligence process. Expectations are to complete all six acquisitions in Q3 and Q4 of 2009, pending financial audits for each of the companies.
Bill McFarland, chairman of the board, said: Wyncrest is adapting to a new economic environment while continuing to seek growth through acquisitions of insurance and specialized financial service businesses that bring new ways of doing business in new markets. We are going outside the box with new market driven products that complement our insurance and financial service offerings.
Chicago-based Wyncrest Group is a publicly traded holding company focused on financial services and the insurance industry.