USI Consulting Group, a retirement plan consulting firm, acquired rival Hooker & Holcombe, USI announced in a news release Monday.
Terms of the deal were not disclosed.
The acquisition of the Bloomfield, Conn.-based firm will add more than 300 plan sponsor clients with $3.4 billion in assets to USI's platform, a USI spokesman said.
Hooker & Holcombe, a regional provider of actuarial, investment advisory and retirement plan consulting services, has served municipal, corporate and non-profit organizations since its founding in 1956, said Peter Campagna, a partner at mergers and acquisitions firm Wise Rhino Group, which advised Hooker & Holcombe in the transaction.
"Partnering with a dynamic, growing and diversified firm like USI gives the H&H team an expanded base of resources and tools to take their already outstanding service to another level," Mr. Campagna said in a separate news release.
The acquisition follows USI's purchase in October of Beasley & Co., a regional benefit consulting firm specializing in retirement and third-party administrative services.
With the Hooker & Holcombe acquisition, USI now serves more than 4,100 clients with $36.4 billion in assets under administration, the USI spokesman said.
