USI Acquires O'Leary-Kientz
Birarcliff Manor, N.Y.-based USI Holdings Corp. announced it has acquired all the issued and outstanding capital stock of Cincinnati, Ohio-based O'Leary-Kientz, Inc.
Established in 1980, O'Leary-Kientz provides its clients risk management and insurance services and has a specialty in construction insurance and surety services. The acquisition of O'Leary-Kientz by USI will solidify USI's position as one of the largest insurance brokerage firms in the Southern Ohio region, the company said in a statement.
Thomas W. Chatham, president and CEO of O'Leary-Kientz, will assume the new role of President of USI Midwest's commercial division and join the management team of USI Midwest.
This acquisition will be fully integrated with USI's existing Cincinnati operation and is expected to contribute approximately $4.5 million in revenues to USI over the next year.
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