Reliance Global Group has completed the sale of its Southwestern Montana Insurance Center subsidiary for $2.625 million in cash at closing, plus an uncapped earnout based on the agency's EBITDA performance for the twelve months ending August 31, 2027. The price reflects a multiple of 8.75 times pro forma EBITDA of $300,000, with the earnout equal to 8.75 times any EBITDA above that threshold, payable after the first anniversary of closing if earned, and no shares were issued in the transaction. The sale closed on September 11, 2026, effective as of September 1, 2026, and is separate from the previously announced expected sale of the Michigan-based Altruis Benefit Consulting agency. The deal is part of the portfolio monetization strategy Reliance launched in 2025 to divest non-core insurance agencies, strengthen its balance sheet and redeploy capital into its proprietary AI platform, RELI Exchange, and other InsurTech initiatives, as well as to accelerate repayment of its term debt. Chairman and Chief Executive Officer Ezra Beyman said the closing reflects continued execution of that strategy and provides greater financial flexibility to invest in the company's AI platform and other growth initiatives.
Reliance Global Group IncReliance Global Group closed the $2.625M cash sale of its Southwestern Montana Insurance Center subsidiary, part of its portfolio monetization strategy to strengthen its balance sheet and repay term debt.
Taishin Financial Holding Co Ltd
Reliance Industries Limited
Reliance Steel & Aluminum CoSouthwestern Montana Insurance Center is the subsidiary being sold for $2.625M plus an uncapped EBITDA-based earnout, but the article gives no standalone directional read on the unit itself.
