USI Closes Buy of de la Parte & Associates

USI Insurance, which is backed by Goldman Sachs Capital Partners, said Friday that it’s closed its buy of de la Parte & Associates. Financial terms weren’t disclosed. Tampa, Fla.-based de la Parte is an employee benefits & insurance consulting firm. Earlier this week, USI announced its acquisition of First Place Insurance Agency.

PRESS RELEASE

USI Insurance Services (“USI”), today announced the closing of the acquisition of de la Parte & Associates (“de la Parte”), a Tampa, Florida, based employee benefits & insurance consulting firm specializing in corporate health and welfare benefits, cutting edge wellness initiatives, retirement services, executive benefits, and human resources consulting for middle-market businesses. Terms of the transaction were not disclosed.

Commenting on the acquisition, James W. Dunn, USI’s Regional CEO for the Southeast, said: “This acquisition strengthens our position as one of the largest insurance brokerage firms in Florida and one of the largest benefit insurance brokerage firms in the United States. Adding this quality team to our local practice is further evidence of our strong commitment to the Tampa area. I am pleased to welcome Kim de la Parte and the rest of the professionals from de la Parte to our team.”

Kim M. de la Parte, CEO and Founder of de la Parte & Associates, said: “USI shares our commitment to providing professional service that exceeds client’s expectations. By joining the USI team, de la Parte will continue its tradition of excellence in customer service. I am thrilled to offer clients access to more diverse, proprietary programs & solutions, cutting edge technology, and greater access to tools and resources that will support client needs and enhance our value propositions. We will continue to navigate the way through an ever changing landscape of regulation.”

About USI Insurance Services

Founded in 1994, USI is a leading distributor of employee benefits insurance programs & solutions, in addition to property and casualty insurance products & risk management to businesses throughout the United States. USI is headquartered in Briarcliff Manor, NY, and operates out of 80 offices in 23 states. USI is a portfolio company of Goldman Sachs Capital Partners, a private equity affiliate of Goldman Sachs & Co. Additional information about USI may be found at www.usi.biz.