Insurance brokerage Hub International Limited (Hub) announced its Chicago-area affiliate Hub International Midwest (Hub Midwest) plans to acquire Laurus Strategies (Laurus) from CSIG Holding Co.
Laurus is an employee benefits, human resources, and human resource information system (HRIS) global benefits consulting business. Terms of the acquisition were not disclosed.
Closing of the acquisition is conditioned upon customary closing conditions and is expected to occur in November 2014. As part of the transaction, Hub will acquire Laurus’ employee benefits and HR technology consulting practices. This HR technology consulting practice will continue to operate under the “ihouse” brand.
Laurus offers global health and benefits consulting, including expertise in such areas as: private exchange, human capital development, international total rewards, property and casualty (P&C), non-profit and public affairs, and human resource information system (HRIS) consulting, which helps clients assess current systems and identify the best alternatives, enabling benefit solutions to integrate with existing HR systems, such as payroll.
Founded in 2003, Laurus focuses on midsized and large, complex Fortune 2000 companies. The firm’s more than 130 employees serve more than 450 clients throughout the U.S., Canada and Latin America from its Chicago headquarters and three regional offices.
Chris Cordes, Laurus’managing partner, will join Hub as the president and market leader of Hub Midwest, responsible for employee benefits and consulting services and reporting to Neil Hughes. Hub’s National Employee Benefits Practice is headed by its President Mike Barone.