National brokerage ALKEME has launched its first sub-brand, ALKEME Automotive, as part of a strategic initiative to focus on insurance and financial services tailored to the automotive sector.
ALKEME Automotive will operate as a dedicated platform serving franchise and used car dealerships, auto repair and body shops, towing companies, rental businesses, parts manufacturers, and service centers. The sub-brand brings together agency leaders with experience in delivering specialized coverage and services within the automotive market.
The company said that the sub-brand will provide solutions designed to meet the operational and risk management requirements of businesses across the automotive value chain. ALKEME Automotive aims to deliver coverage models and services that reflect the changing landscape of the automotive sector.
Curtis Barton (pictured above), CEO of ALKEME, said the sub-brand represents an effort to bring together professionals with deep knowledge to support evolving client demands.
"By uniting the best minds in automotive insurance and financial services, we are creating a platform that not only addresses today's challenges but anticipates the needs of tomorrow,” Barton said.
The launch of ALKEME Automotive is the latest in the firm's series of sector-based initiatives.
Beyond motor insurance, ALKEME has been actively pursuing growth through acquisitions. In the first half of 2024, the company completed 15 acquisitions, marking a 66% increase compared to the same period in the previous year.
These acquisitions expanded ALKEME's presence to 22 states and contributed to its workforce exceeding 900 employees. Notable acquisitions include Crawford Insurance Group in Michigan, Relion Insurance Solutions in Iowa, and Becker Benefit Group in Maryland.
Financially, ALKEME reported estimated revenues exceeding $140 million in 2024, with an EBITDA surpassing $50 million. The company's robust performance has attracted continued investment interest, leading GCP Capital Partners to roll its investment into a continuation vehicle, valuing ALKEME at a mid-teens multiple of EBITDA.
What are your thoughts on this story? Please feel free to share your comments below.
