Goldman Sachs Looking to Sell Off USI Holdings: Report
Goldman Sachs Capital Partners, a private equity affiliate of Goldman, Sachs & Co, may be looking to sell off USI Holdings, according to a media report.
The Deal Pipeline, a mergers-and-acquisitions publication, reported this morning — citing anonymous sources — that Goldman Sachs Capital Partners is looking to divest the broker and an auction process is now getting underway. A Goldman Sachs spokesperson did not immediately respond to Insurance Journal‘s request for comment.
Goldman Sachs’s private equity unit had purchased USI Holdings back in 2007, in a transaction valued at around $1.4 billion, including repayment of USI’s existing debt obligations.
Headquartered in Briarcliff Manor, N.Y., USI is a distributor of property/casualty and employee benefits products to small- and mid-sized businesses throughout the United States. It operates out of 80 regional offices in some 25 states.
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