Press release from USI Insurance Services
USI Insurance Services ("USI") announced that it has entered into a purchase agreement to acquire Van Gilder Insurance Corporation ("Van Gilder") in Denver, Colo. This acquisition is expected to close on December 10, 2013. Terms of the transaction were not disclosed.
Founded in 1905, Van Gilder is a full-service insurance brokerage firm serving clients in the Rocky Mountain region and across the United States. The company offers business insurance, employee benefits programs, risk management services and personal insurance products for individuals. By acquiring Van Gilder, USI’s footprint has been extended into the Rocky Mountain region and further strengthens the Company vision of becoming the number one brand in the middle-market insurance brokerage industry.
While Van Gilder will change its name to USI Colorado, the company’s office and employees will remain in Denver to continue serving clients. Van Gilder president, Donald McG. Woods, and chief financial officer, Edward M. Harrington, Jr., will remain in their leadership roles.
Michael J. Sicard, president, chief executive officer and chairman of USI, said: "For over a century, Van Gilder has been working with clients to listen, learn and assess their needs. In addition to delivering top-notch solutions that are competitively priced, their experienced staff provides ongoing education, advice and guidance to make the insurance process even easier. Through this acquisition, we are not only expanding our national footprint, but our mutual strengths in client service and industry knowledge will benefit both Van Gilder and USI’s clients. I am pleased to be partnering with Don and his team, and I look forward to working together to become the middle-market leader with unparalleled depth and breadth of resources."
"Our acquisition by USI represents a very important step in our current strategic plan to grow our services and products for clients throughout the Rocky Mountain region," Woods said. "For our customers and employees, it will remain business as usual. Our customers will continue to receive the same high level of service, and there won’t be any changes to current policies. We’ll be focused on ensuring a smooth transition in the coming months and collaborating with the USI team."
Dell Van Gilder, Jr., former chairman of Van Gilder’s board of directors, said: "Selling Van Gilder to USI is a positive decision for our company, our people and customers. As a part of USI, our priority will remain serving clients with integrity and best-in-class risk management solutions, just as we’ve done for nearly 110 years."
About Van Gilder Insurance Corporation
Van Gilder Insurance is a privately held insurance brokerage firm serving clients in the Rocky Mountain region and across the U.S. The company offers business insurance, employee benefits programs, risk management services and personal insurance products.
About USI Insurance Services
Founded in 1994, USI is the 10th largest insurance broker in the United States and the 14th largest in the world. USI is headquartered in Valhalla, NY, and operates out of approximately 100 offices across the United States. Additional information about USI may be found at www.usi.biz.
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Williams Mullen attorney Greg Bishop led the team that assisted USI, which included Larry Parker, Will Rabke, Wendy Sanborn, Carrie Stanton, Jonathan Bliley and Rick Palmieri. Specialized legal resources were provided by Earl Baggett, Reba Mendoza, Kate Marriott, Brydon DeWitt, Ellie Hindsley, Jenny Connors, Kyle Wingfield, John Davis and Chip Bliley.
View the original press release here.