Alliant’s offices won’t be altered

The Blackstone Group’s acquisition of Newport Beach-based Alliant Insurance Services Inc. should not have much impact on Alliant’s day-to-day operations.

The more than 200 employees in Newport and 350 around Southern California will remain at their posts, and the headquarters of the commercial insurance brokerage firm will not move.

“The new ownership of the company remains relatively similar to what it was under the prior private equity partnership with [Lindsay Goldberg], so operationally there will be no immediate changes,” Alliant vice chairman Mike Simmons said. “In the long run I think it’s a benefit to all our clients and colleagues.”

Details of the acquisition, which is expected to close in August, were not disclosed by company officials, but the deal is worth $1.1 billion in stock and cash, according to Los Angeles Times and Associated Press reports.

Alliant Insurance Services is one of the biggest commercial insurance brokerage firms in the country with more than 20,000 commercial clients, according to a news release. The company sells commercial property insurance, casualty and employee benefits insurance products, Simmons said.

The new ownership group is an asset manager and financial advisory services company. Its alternative asset management portfolio includes corporate private equity funds, real estate funds, senior debt funds and other products.

Once the deal is completed, Blackstone will help facilitate further growth for Alliant, including helping the Newport brokerage to acquire other companies.

“We will be looking to expand through both organic growth and we will continue to expand through acquisitions,” Simmons said.

John A. Ford, a spokesman for The Blackstone Group, could not comment on what the deal will mean for the company Friday because of Federal Communications Commission regulations.

With its continued growth, Simmons said the brokerage’s neighbors in the Newport business community should expect to see more from Alliant in the future.

“I think what we’re going to find is that … businesses in Newport Beach will become more aware of Alliant as a firm that’s active in the community,” Simmons said. “We look forward to working with them on their commercial insurance programs.”