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USI Acquires Dallas Brokerage

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NU Online News Service, Jan. 14, 2005, 11:05 a.m. EST

USI Holdings Corporation has agreed to buy Summit Global Partners, a Dallas brokerage firm.[@@]

SGP sells employee benefits and other insurance products to middle market companies throughout the U.S. It has offices in Texas, Florida, Illinois, California, Tennessee, New Mexico and Michigan.

USI, Briarcliff Manor, N.Y., says it expects SGP to add about $66 million annually to its revenues.

The company expects to close the deal at the beginning of February. It did not disclose terms of the transaction.