Review of mergers and acquisitions: KSM and Herbein are developing
Details: Katz, Sapper & Miller, a Top 100 company based in Indianapolis, bought Noble Consulting Services Inc., an insurance regulatory consultancy based in the same city.
Noble specializes in financial risk reviews and related services on behalf of insurance regulators. The agreement will allow KSM to expand its range of services. Financial terms of the acquisition were not disclosed. KSM ranked # 62 on Accounting todaythe 2021 list of the top 100 companies. The company achieved sales of $ 81,779,100 in 2020. KSM currently has 391 full and part-time employees, including 45 partners. Noble employs 41 people, including CEO Mike Dinius, who was the sole owner of the company prior to the acquisition.
Noble dates back to 1997 and will operate as a wholly owned subsidiary of KSM, while retaining its name and headquarters in downtown Indianapolis. Dinius will continue to be CEO of Noble.
“As a leader of Noble over the past six years, I am incredibly proud of our team and all that we have accomplished together,” Dinius said in a statement Monday. “I am also very excited about our next chapter with KSM, a company that exemplifies the employee-centric culture and values that are integral to Noble: teamwork, customer service and excellence. . “
Noble provides various services to insurance regulators, including financial risk reviews; driving tests on the market; reviews of reinsurance contracts; regulatory oversight, rehabilitation and liquidation services; investment reviews; cybersecurity reviews; and the review of corporate governance, business risk management, and risk and solvency assessments.
“For nearly 25 years, Noble has been highly regarded within the insurance regulatory community as a trusted advisor of the highest integrity, and we are proud to welcome Noble’s dedicated professionals to the KSM family,” KSM CEO and Chairman Tim Cook said in a statement. “While Noble will continue to operate as a separate and separate company, there are significant synergies between KSM and Noble that will allow the two groups to develop new businesses, share resources and create new opportunities for employees. We look forward to continuing to grow together.
KSM has expanded its healthcare and government consulting services over the past two years. The firm expanded its healthcare team in 2019 with the acquisition of Caskey & Daily, PC, an Indianapolis-based tax and accounting firm. The company has also hired management staff overseeing its healthcare consulting practice last year and launched a new government consulting firm earlier this year.