The Real Deal New York

Westchester & Fairfield Cheat Sheet: USI buys Wells’ commercial insurance business, Houlihan Lawrence staffs up … & more

By Grace Guarnieri | July 06, 2017 06:00PM

Clockwise from left: Canterbury Green, 90 Fairview Park Drive in Elmsford, Houlihan Lawrence’s Nicholas Fears and Anne Marie Gianutsos


Valhalla’s USI Insurance Services acquires commercial insurance business from Wells Fargo 

Valhalla-based USI Insurance Service announced last week that it would acquire Wells Fargo Insurance Services USA. Wells Fargo’s commercial insurance services caters to specialized industries and provides professional and private risk solutions, property and casualty insurance, and employee benefits.  The transaction is expected to close later this year, according to Westchester Business Journal.  The brokerage’s CEO and chair Michael Sicard called the deal a “transformational transaction.” USI acquired 40 brokerages from Wells Fargo in 2014, and currently has 4,400 employees in about 140 offices. [WBJ]

Houlihan Lawrence hires a CMO and CFO

The residential brokerage firm recently announced that it’s adding new leadership to its roster. Formerly the head of public relations at the Rye Brook-headquartered firm, Anne Marie Gianutsos was promoted to chief marketing officer. New CFO Nicholas Fears was employed by national residential real estate brokerage NRT in New Jersey for 15 years before signing on with Houlihan Lawrence, the Westchester Business Journal reported. [WBJ]

Stamford-based PDC Brands sold to CVC Capital for $1.4 billion

The beauty and wellness brand known for Dr. Teal’s bath care, Bodycology, Calgon and other personal care products has been sold by private equity firm Yellow Wood Partners to CVC Capital Partners for $1.425 billion, according to the Stamford Advocate. Yellow Wood, which had purchased the company in a five-year partnership agreement, reported that profits from PDC, whose world headquarters are at 6 High Ridge Park in Stamford, quadrupled over the course of their ownership of the company. [Stamford Advocate]

Stamford’s Canterbury Green names leasing agents at Cushman

Cushman & Wakefield is the exclusive leasing agent for the downtown Stamford’s 14-story Canterbury Green development at 201 Broad Street. RFR Realty’s mixed-use property offers 217,500 square feet of commercial office space, 13,500 square feet of retail space and 106 residential units. Cushman’s Adam Klimek and Brian Scruton will have the listings, according to Fairfield Business Journal. [FBJ]

Bronx-based developer buys former Elmsford imported food distributor warehouse for $5.45M

Bronx-based commercial and residential property developer Simone Development Companies bought an Elmsford warehouse for $5.45 million in June. New York Commercial Realty Group brokered the sale of the 35,000-square-foot property at 90 Fairview Park Drive, according to Westchester Business Journal. The previous owner,  J & D Jeraci LLC, was an entity of Jeraci Food Distributors Inc., a distributor of Italian imports. [WBJ]