KKR and CDPQ Acquire USI, a Leading Insurance Brokerage and Consulting Firm
March 17, 2017
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170317005256/en/
With more than 4,400 professionals operating out of 140 local offices
throughout
The investment will primarily be made through KKR and CDPQ’s core private equity partnership which includes funds from KKR’s balance sheet and from CDPQ’s pool of capital. The partnership is designed to pursue attractive investment opportunities in high quality businesses with a longer duration and a lower risk profile in order to support strong management teams and facilitate long-term strategic business building.
KKR and CDPQ have a strong track-record in the financial services and insurance-related sectors and have been long-standing partners in multiple investments over the years.
“USI is a fantastic company and is uniquely positioned to help address
the risk management, insurance and employee benefits-related needs of
small and medium-sized business owners. We look forward to working with
CDPQ in helping management achieve its long-term vision to grow the
business through accelerated investments in USI’s people, technology and
solutions,” said
“CDPQ and KKR are co-leading this investment and leveraging their
respective expertise in the sector to support USI’s world-class
management as it pursues its strategic plan for long-term growth. Our
partnership was established to implement both firms’ patient,
disciplined and collaborative investment approach,” said Christian
Puscasiu, Co-Head, Direct Investments, Private Equity at CDPQ. “USI
operates in a resilient sector characterized by stable, long-term
returns and serves small and medium-sized businesses, which are the
cornerstone of the
“We are passionately committed to continuing and accelerating USI’s
growth and investment as a leader in our industry, leveraging and
innovating our unique USI ONE Advantage,” commented
The transaction is anticipated to close by the end of the second quarter 2017 subject to customary conditions including regulatory approvals.
ABOUT KKR
KKR is a leading global investment firm that manages investments across
multiple asset classes including private equity, energy, infrastructure,
real estate, credit and hedge funds. KKR aims to generate attractive
investment returns by following a patient and disciplined investment
approach, employing world-class people, and driving growth and value
creation at the asset level. KKR invests its own capital alongside its
partners’ capital and brings opportunities to others through its capital
markets business. References to KKR’s investments may include the
activities of its sponsored funds. For additional information about
ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
Caisse de dépôt et placement du
ABOUT USI
USI is a leading local and national insurance brokerage and consulting
firm, delivering property and casualty, employee benefits, personal risk
and retirement solutions throughout
View source version on businesswire.com: http://www.businesswire.com/news/home/20170317005256/en/
KKR
KRISTI HULLER OR
media@kkr.com
or
CDPQ
JEAN-
Senior Advisor, Media Relations
jbhoude@cdpq.com
or
ed.bowler@usi.com
or
cecile.locurto@usi.com
Source:
Back to Press Releases
Media Contacts
Americas
Miles Radcliffe-Trenner
Telephone: +1 (212) 750-8300
Email: media@kkr.com
Investor Relations
Craig Larson
Telephone: +1 (877) 610-4910
Outside US: +1 (212) 230-9410
Facsimile: +1 (212) 750-0003
Email: Investor-Relations@kkr.com