Mergers & Acquisitions ·
Reliance Global Group sells Altruis Benefit Consultants for $8M, uses proceeds to repay $2.18M debt
EZRAReliance Global Group, Inc.
Reliance Global Group sold substantially all assets of its employee benefits insurance agency subsidiary, Altruis Benefit Consultants, to Altruis Benefit Management for $8 million. The transaction closed on September 23, 2026, with consideration consisting of approximately $4.44 million in cash, a secured promissory note of roughly $3.1 million maturing September 30, 2026, and holdbacks for indemnity and working capital adjustments. The company also has potential earnout payments up to $1 million based on revenue growth. Proceeds were used to fully repay a $2.18 million secured credit facility with Oak Street Funding. Reliance Global Group operates in the employee benefits insurance brokerage industry.