National Financial Partners Corp. says it plans to acquire the Balser Companies for around $53 million in cash and stock.
National Financial, New York, a financial services distributor, says Balser represents $7.4 million in acquired base earnings. In 2005, Balser, an executive benefits firm, produced around $13.2 million in revenue.
Balser, Atlanta, provides deferred compensation plans and supplemental executive plans to large corporations, including life, disability and long term care insurance.
NFP expects to close the deal in the first quarter of 2007.