Kevin Tawil

We saw it there, and there was Signal out there as well.

Once we...

Completed the acquisition of the Merrimack Group in 99, and we never lost focus on one of these others.

And we reinitiated conversations with Lachlan more substantively in 2002.

They were owned by an insurance agency in Kansas City.

We put in a bid, they took themselves out to auction, and we thought we had a generous offer in there.

They were telling us that there were other bidders.

We didn't believe them.

We were wrong.

And another Kansas City-based company ended up buying them for maybe 10% more than we were offering.

It was such a disappointment to have that flip through our fingers.

And we could have easily paid that and more.

I think we were obstinate and overly confident in our position that we were the logical buyer of this.

And who else would buy this?

Well, turns out we were wrong on that.

So that went away.

We reengaged them two years later.

Somewhere in between.

It was a company called DST Systems.

They're also based in Kansas City.