Aon Plc is reportedly close to finalizing an agreement to acquire USI Insurance Services from private equity firm KKR for approximately $17 billion, including debt. The Wall Street Journal reported Sunday, citing individuals familiar with the matter, that the deal could be announced as early as Monday, provided negotiations conclude successfully.
Reuters could not immediately verify the report. Neither Aon, headquartered in London, nor Valhalla, N.Y.-based USI, could be reached for comment. KKR, based in New York City, declined to comment.
This potential acquisition represents a significant exit for KKR, which has recently divested other assets, including its data-center cooling business CoolIT and Circor's commercial and defense aerospace unit. KKR and the Caisse de dépôt et placement du Québec, a Canadian pension fund, originally purchased USI from Onex Corporation in 2017 for $4.3 billion. KKR has since invested over $1 billion more, establishing itself as the largest shareholder.
The acquisition is expected to enhance USI's capabilities in serving midsize businesses and could boost earnings per share as early as 2028, according to the report.