The acquisition is expected to close by the end of September 2012 subject to, among other customary conditions, expiration or termination of the waiting period (and any extension thereof) under the Hart-Scott-Rodino Antitrust Improvement Act of 1976, as amended. Terms of the transaction were not disclosed. This sale will not affect the Canadian operations of TD Insurance.
“In joining forces with one of the preeminent middle-market insurance brokerage firms in the country, our customers will not only enjoy coordinated solutions and support at the local level, but can tap into USI’s deep industry knowledge and competitively-priced products that only a national firm with world-class resources can provide”
Mike Sicard, USI’s Chairman, President and CEO, said, “We are excited to welcome Joe Fico and the US TD Insurance team to USI. TDI Inc. has fostered a customer-centric culture and reputation for delivering superior, cost-effective insurance solutions. We will complement our mutual strengths for the benefit of clients, prospects and our great professionals, and together create a market leader with unique breadth and depth of resources.”
“In joining forces with one of the preeminent middle-market insurance brokerage firms in the country, our customers will not only enjoy coordinated solutions and support at the local level, but can tap into USI’s deep industry knowledge and competitively-priced products that only a national firm with world-class resources can provide,” said Joseph Fico, President and CEO, TDI Inc. “We are excited about leveraging our combined strengths for strategic growth opportunities that will enhance the overall experience of both our new and existing clients.”
USI was represented by Jones Day’s Boston office and TD Bank, N.A. was represented by Bingham McCutchen.
Source:
eon.businesswire.com
