USI Insurance Services announced Monday that it has acquired CBDI Inc., an employee benefits wholesale brokerage operation based in Mount Laurel, New Jersey. Terms of the transaction were not disclosed.
CBDI will become part of Emerson Reid LLC, USI’s employee benefits wholesale brokerage division.
USI said CBDI will enhance Emerson Reid’s position in the employee benefits wholesale market in New Jersey and Pennsylvania.
More than 26 staff members at CBDI have transitioned over to Emerson Reid and USI as part of the transaction. The staff members will remain at their current Mount Laurel location.
Based in Valhalla, New York, USI is an insurance brokerage and consulting firm with over $1.0 billion in revenue and more than 4,400 employees. USI operates out of nearly 140 local offices across the U.S.