USI Insurance Closes Deal for Two Insurers
The deal announcement comes just weeks after PE firm Onex bought USI
USI Insurance Services wrapped up its acquisitions of insurance providers Welsch Flatness and Lutz Inc. and Construction Insurance Partners.
The St. Louis, Mo.-based buyer has merged operations with Welsch and Construction, which are also based in St. Louis.
Terms of the deals weren’t disclosed.
Welsch provides insurance products for businesses, while Construction partners with other insurance agents and brokers to provide insurance services for workers.
USI is backed by private equity firm Onex Corp. (TSX: OCX). Onex bought the insurer in a deal announced in November for $2.3 billion.
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