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Since Access Holdings, a private investment firm became Foundation Partners Group’s new financial backer a year ago, the company now has “significant new, long-term capital to make acquisitions and grow our business.”
Baton Rouge-based Guaranty Income Life Insurance Co. is being acquired by Kuvare US Holdings Inc. for an undisclosed price. The deal, which is subject to approval from the Louisiana Department of Insurance, is set to close in several months. GILICO will remain based in Baton Rouge, along with its management team and staff, and the company name and organizational structure will remain the same, Kuvare said. GILICO, founded in 1926, is licensed to do business in 31 states, marketing individual fixed annuities and universal life products. It has about 20 employees.
ORLANDO, Fla.– Foundation Partners Group, LLC (FPG) announced today the completion of its sale to Access Holdings, a private investment management firm committed to forward-thinking growth and innovation. The acquisition by Access Holdings will accelerate Foundation Partners’ ability to fund expansion through acquisition and reinvent the funeral industry.
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