About the Transaction
The Burke Group (“Burke”) (www.burkegroup.com) is a leading provider of retirement plan administration and actuarial services for corporate, non-profit, and public sector clients. Founded in 1989, Burke has a long history of building and maintaining relationships with its premier and growing client base. The Company specializes in comprehensive fiduciary risk management, plan design, administration, and regulatory compliance services. Burke has also been a market innovator in designing and operating multiple employers plans for the direct selling, real estate, and other association industries.
The buyer, USI Consulting Group, Inc. (“USICG”) (www.usi.com), a subsidiary of USI Insurance Services, has provided retirement plan consulting and benefits administration services to organizations and their employees for over 45 years. USICG clients consist of public and private sector employers, not-for-profit organizations, as well as Fortune 500 companies. The Company is a top 10 retirement consulting firm in the U.S. focused on optimizing retirement plans, driving financial wellness for employees, and influencing long-term financial success of organizations.
“For more than 30 years, our team has maintained a strong identity as independent, thoughtful, transparent, and objective advisors,” stated Burke Group’s Managing Principal, Patrick Burke. “I am confident this new partnership with USI Consulting Group, one of the largest national specialized retirement businesses in the U.S. and a premier provider of defined contribution and defined benefit plan consulting and administration services, will further enhance the value and expertise we deliver to our clients each day.”
USI Consulting Group President and CEO, Bill Tremko added: “We are thrilled to welcome the talented professionals from Burke Group to the USICG family and look forward to expanding our retirement consulting expertise throughout the upstate New York region.”
Paramax served as the exclusive M&A advisor to The Burke Group on this transaction.
