CHICAGO, July 25 /PRNewswire-FirstCall/ -- The Wyncrest Group, Inc. (Pink Sheets: WNCG) announces the initiation for immediate strategic growth. The Wyncrest Group, Inc. today announced it has six business acquisitions currently in negotiations. Each business was prospected and targeted for synergies and growth with Southwest Financial Group, Wyncrest's flagship subsidiary. Letters of intent are expected to follow in 30 to 60 days, followed by the due diligence process. Expectations are to complete all six acquisitions in the 3rd and 4th quarters of 2009, pending financial audits for each of the companies.
Bill McFarland, Chairman of the Board, points out, "Wyncrest is adapting to a new economic environment while continuing to seek growth through acquisitions of insurance and specialized financial service businesses that bring new ways of doing business in new markets. We are going outside the box with new market driven products that complement our insurance and financial service offerings."
The Wyncrest Group, Inc. is a publicly traded holding company focused on financial services and the insurance industry. Based in the Chicago, Illinois metropolitan area, the company is expanding into the offshore insurance industry. It is strategically positioning itself to take advantage of the potentially rapid expansion of certain specialty insurance products and services lines that are in high demand but which are underserved by existing providers.
Through WNCG's wholly owned subsidiary, Southwest Financial Group (SFG), the company has operated for twenty-one years. SFG has 22,000 clients and 85 representatives nationwide, and generated approximately $22 million in gross sales of insurance policies during 2008. In addition to its core offerings, SFG also has growing interests in long-term care for student sports programs and student athletes, as well as pet insurance. SFG is currently engaged in selling an array of quality life protection products and services including: family and personal insurance; real estate and asset insurance products and services; niche tax and wealth building strategies; employee group benefits; 401K Retirement Plans; earthquake, flood and disaster insurance; debt reduction; and alternative investments; and mortgage purchasing & refinancing.
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. WNCG has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the WNCG's current beliefs and are based upon information currently available to it.
Accordingly, such forward looking statements involve known and unknown risks, uncertainties and other factors which could cause the WNCG's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. WNCG undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.
Wyncrest Group, Inc. 9654 West 131st Street, Suite 215 Palos Park, IL 60464 http://www.wyncrestgroupinc.com/ Investor Relations: 630-215-5171 investor@wyncrestinc.com
Wyncrest Group, Inc.
CONTACT: Wyncrest Group, Inc. Investor Relations, +1-630-215-5171,
investor@wyncrestinc.com
Web Site: http://www.wyncrestgroupinc.com/
