The CIMA Companies, Inc. (www.cimaworld.com), the Alexandria, VA-based insurance broker and risk management firm, has acquired ENI Insurance Services of Havre de Grace, MD. ENI’s commercial and personal insurance operations are now part of Corporate Insurance Management, Inc., CIMA’s property/casualty and life/health company.
Mystic Capital Advisors Group, LLC provided transaction advisory services to CIMA on the acquisition.
ENI was established in 1997 by the current principals – Jerry Lacey, Brent Slutzky and Rob Magee. All three will continue with the combined organization. Mr. Lacey becomes a vice president and shareholder of CIMA, will continue to serve as head of the Havre de Grace office, and will be involved in merger and acquisition activities of CIMA. No other terms of the acquisition were disclosed. The 14-person ENI staff in Havre de Grace will continue to serve its customers from the present location.
“Becoming part of CIMA immediately gives ENI more markets to choose from, and more services such as customized loss control and claims management, and those things benefit our customers directly,” said Mr. Lacey.
Jim Rodgers, CIMA president and chief operating officer, added, “ENI’s blend of commercial and personal insurance, and strong service culture, make a great fit for our business model and our service commitment.”
Topics Mergers & Acquisitions
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