Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Portfolio > Alternative Investments > Private Equity

Canadian firm Onex buys insurer USI for $2.3B

X
Your article was successfully shared with the contacts you provided.

NEW YORK (AP) — Canadian private equity firm Onex is buying insurance broker USI for $2.3 billion from a Goldman Sachs private equity fund.

USI Insurance Services, based in Briarcliff Manor, N.Y., offers property and casualty insurance, employee benefits and retirement consulting. Founded in 1994, it has about 100 offices in the U.S.

The GS Capital Partners fund took the insurance broker private in 2007 for $1.4 billion, including debt.

USI employees invested in the 2007 deal, and will now own the business with Onex, the companies said Monday.

The deal is targeted to close by year’s end.

See also:


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.