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Mergers & Acquisitions

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Deal Overview

Buyer:
USI, Inc.
Actual Acquirer:
USI Insurance Services, LLC
Target:
First Merchants Insurance Services Inc.
Deal Type:
Insurance Broker Company
Agreement Date:
6/12/2015
Announcement Date:
6/12/2015
Announced Deal Value ($ M):
18.00
Status:
Completed
Completion Date:
6/12/2015

Consideration Breakout
Cash ($M) 16.0
Debt ($M) 2.0

Deal Terms
Description of Consideration

USI Inc. paid $16.0 million in cash and issued a two-year promissory note of $2.0 million to acquire the assets of First Merchants Insurance Services Inc. from First Merchants Corp.

Percent Acquired (%) NA
Accounting Method Acquisition
Merger of Equals? No
Geographic Expansion? NA
Estimated Cost Savings (%) NA
Est. Restructuring Charges ($ 000) NA
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Optis Partners LLC
Seller Yes Sandler O'Neill & Partners LP
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Jones Day
Seller Yes Bingham Greenebaum Doll LLP

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