New York-based insurer USI Insurance Services (USI) has completed the acquisition of Plumhoff & Associates, a Texas-based employee benefit brokerage firm specializing in corporate health and welfare benefits, executive benefits, and international benefits for upper middle-market businesses.
USI said the transaction is expected to contribute approximately $6.4m in revenues to on an annual basis.
USI team will be strengthened with the addition of Craig Plumhoff, Larry Kachler, Mark Grierson, Dale Shivers frm Plumhoff and the remaining team.
USI chairman, president and CEO Michael Sicard said this acquisition strengthens the position as one of the major insurance brokerage firms in the Southwest and one of the largest benefit insurance brokerage firms in the US.
Terms of the transaction were not disclosed.