The Wyncrest Group, Inc. (Pink Sheets: WNCG) today announced it's looking to acquire Florida Insurance Consulting, LLC.
The Wyncrest Group, Inc. (WNCG.PK) today announced that it has signed a Non Disclosure Agreement signaling the initial steps with the intent of acquiring Florida Insurance Consulting, Bartow Florida. A letter of intent will follow within 30 days, followed by the due diligence process with expectations to complete the acquisition in the 3rd quarter of 2009.
Keith Lanzara, President of the company, commented, "The new direction Wyncrest is taking will include the continued acquisition of insurance and financial businesses that bring synergy and increase Wyncrest's national client base with market driven products that complement our niche offshore insurance products. Our long-term strategic goals are to keep all investments from which premiums are compounded, invested in Green Energy investments. In light of the difficult economic environment, and the US administration mandating bio fuels and green energy alternatives, we believe green energy is a growth industry that will be good for Wyncrest investors and the environment alike."
About The Wyncrest Group, Inc.
Wyncrest Group, Inc. is a publicly-traded holding company focused on financial services and the insurance industry. Based in the Chicago, Illinois metropolitan area, the company intends to expand into the offshore insurance industry. It is strategically positioning itself to take advantage of the potentially rapid expansion of certain specialty insurance products and services lines that are in high demand but which are underserved by existing providers. Through WNCG's wholly-owned subsidiary, Southwest Financial Group (SFG), the company has operated for twenty-one years. SFG has 18,000 clients and 85 representatives nationwide, and generated approximately $22 million in gross sales of insurance policies during 2008. In addition to its core offerings, SFG also has growing interests in long-term care for student sports programs and student athletes, as well as pet insurance. SFG is currently engaged in selling an array of quality life protection products and services including: family and personal insurance; real estate and asset insurance products and services; niche tax and wealth building strategies; employee group benefits; 401K Retirement Plans; earthquake, flood and disaster insurance; debt reduction; and alternative investments; and mortgage purchasing & refinancing.
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. WNCG has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates", "believes", "estimates", "expects", "plans", "intends", "potential" and similar expressions. These statements reflect the WNCG's current beliefs and are based upon information currently available to it. Accordingly, such forward looking statements involve known and unknown risks, uncertainties and other factors which could cause the WNCG's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. WNCG undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.