The Firm is representing KKR and Caisse de dépôt et placement du Québec (CDPQ) in their joint acquisition of USI Insurance Services (USI), a portfolio company of Onex Corporation, in a transaction that values USI at $4.3 billion. The transaction is anticipated to close by the end of the second quarter 2017, subject to customary conditions including regulatory approvals.
USI is a leading U.S. insurance brokerage and consulting firm, delivering property and casualty, employee benefits, personal risk and retirement solutions with more than 4,400 professionals operating out of 140 local offices throughout the United States.
The Simpson Thacher team includes Gary Horowitz, Elizabeth Cooper, Jakob Rendtorff, Jun Kim and Jake Phillips (M&A); James Cross, Adam Moss, Edward Bersuder and Sam Egendorf (Credit); Joseph Kaufman (Capital Markets); Jason Vollbracht (Tax); David Rubinsky, Patricia Adams and Chris Scavone (Executive Compensation and Employee Benefits); Rajib Chanda (Regulatory); Steven DeLott (Insurance); Lori Lesser, Genevieve Dorment and Alexander Moser (IP); Adeeb Fadil and Noreen Lavan (Environmental); and Kelly Karapetyan and Ellen Frye (Antitrust).