Reliance Global Group Announces Game-Changing Acquisition of Spetner Associates; Projected to Double Company’s Revenue
LAKEWOOD, N.J., May 15, 2024 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company) today announced it has entered into a definitive agreement to acquire Spetner Associates (“Spetner”), a well-established benefits enrollment company. Spetner, through its BenManage benefits enrollment company, is a leading provider of voluntary benefits to over 75,000 employees throughout the United States.
- Spetner, through its BenManage benefits enrollment company , is a leading provider of voluntary benefits to over 75,000 employees throughout the United States.
- We expect that the addition of Spetner will more than double our current revenue and generate an Adjusted EBITDA of more than $4 million in 2024.
- This acquisition is monumental for Reliance, not just in scale but in its strategic fit within the Company’s broader strategy.
- Jonathan Spetner, President of Spetner Associates remarked, “I am very excited about partnering Spetner Associates with Reliance.