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USI Closes On Bay State Benefits Firm

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USI Holdings Corp. has acquired HRB Benefits Group, a firm that has been selling employee benefits to midsize Boston-area employers for 20 years.[@@]

USI, Briarcliff Manor, N.Y., is not disclosing the price, but it says David Bamel, president of HRB, Wellesley Hills, Mass., will go to work for USI and take over as the benefits practice leader in USI’s Woburn, Mass., office.

HRB has been generating about $3 million in revenue per year, according to USI.


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