AmeriLife Group LLC said today that it has acquired a majority stake in Brookstone Capital Management LLC.
AmeriLife Group is a life insurance, annuity and health insurance distributor based in Clearwater, Florida. It has relationships with about 140,000 insurance agents and investment advisors.
Brookstone is a registered investment advisory (RIA) firm based in Wheaton, Illinois, that was founded in 2006. The firm has relationships with about 400 advisors and 24,000 clients.
AmeriLife is not saying how much it’s paying for Brookstone, but it says the combined company has $2.7 billion in assets under management, from Brookstone, and generates life, health and annuity business, from the AmeriLife operations, that produces $3.5 billion in annual premium revenue.
AmeriLife reported in June that it had refinanced about $300 million in debt and had $100 million in cash and credit that it could use to pay for acquisitions.