Patriot National Inc., a provider of technology and outsourcing solutions within the P&C marketplace, has announced it will acquire Global HR Research (GHRR), which offers pre-employment background screening, assessment and acquisition solutions. According to Patriot National, the acquisition will augment its offerings, which include general agency services, claims administration, technology outsourcing, software solutions, specialty underwriting, employer and policyholder services. The total purchase price will be $24 million in cash and $18 million in stock.
The integration of Patriot National’s distribution platform with GHRR’s products and services will create cross-selling opportunities, lower business costs and improve front-end risk management for Patriot National’s more than 27,000 clients that include insurance companies, employers, local governments and reinsurance captives, according to the company, headquartered in Fort Lauderdale, Florida.
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