USI Holdings Corporation, Briarcliff Manor, N.Y., today announced it has reached an agreement in principle to acquire Cincinnati, Ohio-based Richard B. Cross & Associates, Inc. sometime next month. Terms of the transaction were not disclosed.
Cross has been providing retail benefits solutions including group insurance, account services, employee communication and consulting services to clients in the greater Cincinnati area since 1981. The combination of USI’s existing Cincinnati operation with Cross will create one of the largest middle market insurance brokerage operations in the greater Cincinnati area. Cross is expected to contribute approximately $5.2 million of revenues to USI on an annual basis.
USI is a leading distributor of insurance and financial products and services to businesses throughout the United States. The firm operates out of 73 offices in 19 states.
Topics Mergers & Acquisitions
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