E.W. Blanch and Summit Global Partners Announce Strategic Partnership and Business Transfer

E.W. Blanch Holdings, Inc. has entered into a letter of intent with Summit Global Partners, Inc. under which Summit Global Partners, Inc. would acquire 100 percent of the stock of Blanch Insurance Services, Inc., which also does business as Blanch Wholesale Insurance Services. Pursuant to the letter of intent, E.W. Blanch Holdings, Inc. would become a shareholder of Summit Global Partners, Inc. and the parties anticipate a mutually beneficial ongoing business relationship.

Blanch Insurance Services, Inc., formerly Elton George & Co., is a managing general insurance agency headquartered in San Antonio, TX, with branch offices in several adjoining states. The sale is subject to negotiation of a definitive purchase agreement, which is expected to be completed and executed within the next several weeks.