USI Insurance Services acquires
Construction Agency Professionals
June 8, 2015 – Valhalla, NY – USI Insurance Services (“USI”) announced today that it
has acquired the insurance property-casualty construction and surety business of KORE
Group, Inc., DBA Construction Agency Professionals (CAP). This business and its
employees will join USI’s West Orange, NJ office. The terms of the transaction were not
CAP is a retail insurance broker focused on providing insurance and surety products
directly to construction companies and contractors. This acquisition further strengthens
USI’s presence as a leading middle market insurance brokerage and consulting firm for
the construction industry in the New York metropolitan markets.
“CAP is known for providing top-notch solutions to public and private contractors so
they may achieve healthy, sustainable and profitable growth. By joining USI, our clients
will enjoy unmatched technical resources along with benefiting from expanded solutions
supported by a group of high touch, high service professionals,” said Michael S. Culnen,
president and chief executive officer of Construction Agency Professionals.
James M. Butler, regional chief executive officer for the USI Northeast region, said:
“CAP’s talented group of professionals has an impressive track record for growing
construction companies, making them a perfect match with our game-changing platform
known as the USI ONE Advantage™. This approach integrates business analytics with a
networked team of national and local experts using a consultative planning process to
generate targeted risk management solutions. I am excited to have CAP join us and
welcome them to USI.”
About USI Insurance Services
With more than 4,400 dedicated, experienced and innovative professionals connected
across over 140 offices throughout the United States, USI is a leader in insurance
brokerage and consulting in property-casualty, employee benefits, personal risk services,
retirement, program and specialty solutions. With approximately $1.0 billion in
annualized revenue, USI is the 3rd largest privately held insurance broker(1), the 4th
largest privately held commercial lines broker in the United States(2), and the 13th
largest insurance brokerage firm in the world(3). USI is also the 3rd largest privately held
personal lines broker in the United States(2) and the 7th largest benefits broker ranked by
global benefits revenue(4). USI has been recognized for its innovation by Information
Week 500 the last three years and Best’s Review January 2014 Innovation Showcase.
Additional information about USI may be found at http://www.usi.biz.
About Construction Agency Professionals
Construction Agency Professionals (CAP) is a leading consulting and financial services
firm dedicated exclusively to construction contractors. Its resources and support
capacities encompass the full range of disciplines needed to enhance relationships with
bankers, sureties and other creditors, mitigate risk and achieve continuity and business
perpetuation. Since its inception, CAP has successfully placed billions of construction
credit needs across America. CAP’s team of experienced consultants and advisors
provides a disciplined framework for the development and execution of a strategic plan,
enabling contractors to achieve profitable growth and long-term sustainability.
Mystic Capital Advisors Group, LLC provided transaction advisory services to KORE
Group. For more information on Mystic Capital, please contact Kevin P. Donoghue at
212-251-0972 or visit www.mysticcapital.com .
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USI Insurance Services acquires