The Plexus Groupe, a privately held national insurance brokerage and risk management consultancy, announced today it has acquired Caba, an Oklahoma City-based employee benefits consultancy and administration services firm offering differentiated, value-added solutions for its clients.
Founded over 30 years ago by Chief Executive Officer Cher A. Bumps, Caba manages members within employee-sponsored benefit plans in all 50 states and has a multi-state client base. Included in the transaction is the Caba Employee Assistance Program.
Caba will be rebranded as Plexus.
"We are thrilled to be adding Caba’s vast employee benefits experience and capabilities," said Walter R. Fawcett III, Plexus founder and CEO.
"Caba’s client-centric focus and innovative solutions make it a perfect fit for us. The acquisition increases our presence and footprint in Oklahoma while expanding our service offerings to include EAP and third-party administration services.
"I have known Cher for many years, and I am excited to welcome her to Plexus. She will join Plexus as a partner and will be an invaluable resource to the entire Plexus Team as our company continues to grow."
The acquisition further bolsters Plexus’s strong employee benefits practice. In 2015, Employee Benefit Adviser recognized Plexus as a Top 50 U.S. Large-Group Employee Benefits Brokerage.
"We are excited to be joining The Plexus Groupe," Bumps said. "Relationships, personal service, innovation and creativity have always been Caba’s hallmarks. I believe employers will find tremendous value in the resources and solutions brought to the marketplace by the combined Caba and Plexus teams."
The Plexus Groupe is an insurance brokerage and risk management consulting firm with expertise in employee benefits, property and casualty, retirement plans and human resources. The firm’s Global Network gives clients access to coverage placement in 130 countries worldwide.
In each of the last six years, Plexus has garnered Best Places to Work in Insurance honors from Business Insurance magazine. Headquartered in Deer Park, Ill., the firm also has offices in Chicago (downtown), Dallas and Oklahoma City.