Reliance Global’s Altruis unit sells employee benefits insurance agency assets for $8 million
EZRA•Reliance Global Group’s Altruis Benefit Consultants sold its employee benefits insurance agency assets for $8 million, subject to a post-closing working capital adjustment. The deal includes cash, a secured promissory note and an earnout of up to $1 million over three years.
1. Deal terms
Altruis Benefit Consultants sold the assets to Altruis Benefit Management for $8 million, subject to a post-closing working capital adjustment. Consideration included $4,440,782.60 in cash and a $3,097,488.40 secured promissory note due Sept. 30, 2026.
2. Withheld funds and earnout
The buyer withheld $300,000 for indemnity and $161,729 for working capital, with release tied to claims and the final adjustment. The deal includes an earnout of up to $1 million over three years, tied to revenue growth compared with the year ended June 30, 2026.
