AmWINS Group Inc. has agreed to acquire LISI Inc. for a price that was not disclosed.
AmWINS is a large, Charlotte, North Carolina-based insurance distributor. It handles about $16 billion in insurance transactions per year.
LISI is a San Mateo, California-based general agency that has focused on distributing health insurance and related products, such as dental insurance.
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LISI was founded in 1977. It now has six offices, and relationships with about 8,000 brokers and two dozen carriers.
Beck Patel has been LISI’s chief executive officer since 2010. For the 2012-2013 plan year, sheserved as the chairman of a large nonprofit dental insurer, Delta Dental of California, for the 2012-2013 plan year.
AmWINS says it is also acquiring CoPower, an AmWINS benefit plan administration affiliate.
AmWINS hopes to close on the LISI and CoPower deals later this month.
Sherman & Company served as LISI’s financial advisor.