At the time of Onex’ acquisition, USI Insurance Services (“USI”) was one of the largest insurance brokerages in the United States with more than 140 offices offering property and casualty, employee benefits and personal risk insurance products and services.
Onex worked closely with management on the following initiatives:
- Sourced and evaluated accretive add-on acquisitions opportunities. From the time of Onex’ investment through sale, USI completed over 40 add-on acquisitions;
- Enhanced organic growth by: (i) implementing best practices across USI’s network of local offices; (ii) improving cross-selling initiatives and incentives; and (iii) increasing recruitment and training of new brokers; and
- Continued to improve operating efficiency by consolidating IT systems and outsourcing low-value tasks to centralized service centers.
In May 2017, Onex completed the sale of USI.