USI Insurance Services has entered into an agreement in principle to acquire Johnson & Bryan.
Johnson & Bryan, a leading retail property-casualty and employee benefits insurance brokerage firm based in Atlanta, Georgia, will expand USI's footprint into a new city and market where USI is looking to invest and grow. All employees at Johnson & Bryan will be offered employment by USI.
The parties expect to reach a definitive agreement and close the transaction early 4th quarter of 2016. Terms of the agreement in principle were not disclosed.
USI chairman and chief executive officer Michael J. Sicard said: "We are thrilled to welcome Johnson & Bryan, Robert and the entire team to USI. Johnson & Bryan has a long history of exceptional professionalism with tremendous people who are dedicated to helping businesses thrive.
“Their strong customer and community ties will play an important role in helping us to grow our presence in Atlanta and throughout the southeast, and we look forward to continuing their long-standing tradition of always going the extra mile and custom-tailoring an approach to every risk."
Johnson & Bryan president Robert C. Wynne said: "Collaboration is the cornerstone of our business and the fuel that powers our engine at Johnson & Bryan. By partnering with USI, we will continue to provide the local, individual attention our clients have come to expect, with the benefit of expanded solutions and the ability to leverage USI's networked technical resources and strategic enterprise planning.
“We are excited to be joining USI and look forward to continuing to grow our presence in the Atlanta market."