M&A Deal Summary

USI Insurance Services Acquires Associated Benefits and Risk Consulting

On May 4, 2020, USI Insurance Services acquired insurance company Associated Benefits and Risk Consulting from Associated Bank

Acquisition Highlights
  • This is USI Insurance Services’ 72nd transaction in the Insurance sector.
  • This is USI Insurance Services’ 83rd transaction in the United States.
  • This is USI Insurance Services’ 2nd transaction in Minnesota.

M&A Deal Summary
Date 2020-05-04
Target Associated Benefits and Risk Consulting
Sector Insurance
Buyer(s) USI Insurance Services
Sellers(s) Associated Bank
Deal Type Divestiture

Target

Associated Benefits and Risk Consulting

Minnetonka, Minnesota, United States
website
Associated Benefits and Risk Consulting is a multi-line insurance agency and Midwest-based consulting firm with 400 employees. It is the 36th largest broker of U.S. business providing employee benefits, retirement plans, compliance, business insurance, risk management, and individual insurance solutions.

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Buyer(S) 1

Buyer

USI Insurance Services

Valhalla, New York, United States

website

Category Company
Founded 1994
Sector Insurance
DESCRIPTION

USI Insurance Services is a provider of a fully integrated distribution of general and specialty property and casualty insurance and financial services such as employee benefits outsourcing and related consulting. USI Insurance Services was founded in 1994 and is based in Valhalla, New York.

DEAL STATS #
Overall 83 of 93
Sector (Insurance) 72 of 82
Type (Divestiture) 22 of 22
State (Minnesota) 2 of 2
Country (United States) 83 of 93
Year (2020) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-02 Full Service Insurance Agency

Franklin, Tennessee, United States

Full Service Insurance Agency, Inc. is an independent insurance agency, specializing in commercial insurance, employee benefits and personal risk solutions for businesses and individuals. Full Service Insurance Agency was established in 1975 and is based in Franklin, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-14 Venneberg Insurance

Sitka, Alaska, United States

Venneberg Insurance, Inc. is an independent risk management and insurance agency serving businesses and individuals throughout Southeast Alaska. Venneberg Insurance was founded in 1984 and is based in Sitka, Alaska.iiii

Buy -

Seller(S) 1

SELLER

Associated Bank

Green Bay, Wisconsin, United States

website

Category Company
Founded 1861
Sector Financial Services
Employees4,200
Revenue 1.2B USD (2022)
DESCRIPTION

Associated Bank has 218 banking offices serving more than 150 communities in Wisconsin, Illinois, and Minnesota. The company offers a full range of traditional banking services and a variety of other financial products and services. Associated Bank was incorporated in 1861 and is based in Green Bay, Wisconsin.

DEAL STATS #
Overall 1 of 2
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 2
State (Minnesota) 1 of 1
Country (United States) 1 of 2
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-25 First Staunton Bancshares

Staunton, Illinois, United States

First Staunton Bancshares, Inc. is a family-owned institution that serves the Metro East region of the St. Louis Metropolitan Area through nine communities in Southern Illinois. First Staunton Bancshares, Inc., with $543 million in assets and $439 million in deposits headquartered in Staunton, Illinois.

Buy $76M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-05 Whitnell

Oak Brook, Illinois, United States

Whitnell & Co. provides affluent families across the Midwest with a complete set of multi-family office services centered around financial planning, wealth management, and generational wealth transfer. Whitnell was founded in 1988 and is based in Oak Brook, Illinois.

Sell -
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