People familiar with the situation say Aon Plc is close to finalizing terms to acquire USI Insurance Services from KKR for approximately $17 billion including debt. The parties could make an announcement as soon as Monday, provided the ongoing negotiations reach completion, according to the individuals briefed on the matter.
The report has not been independently verified. London-headquartered Aon and Valhalla, New York-based USI were not immediately reachable for comment, and New York City-based KKR declined to comment.
If completed, the sale would follow a series of sizable divestitures by KKR, which recently disposed of assets including the data-center cooling firm CoolIT and the commercial and defense aerospace unit of Circor.
KKR, together with the Caisse de dépôt et placement du Québec, acquired USI from Onex Corporation in 2017 in a transaction valued at $4.3 billion including debt. Since that purchase, KKR has injected more than $1 billion in additional capital and remains USI's largest shareholder.
The proposed acquisition is expected to strengthen USI's ability to serve midsize businesses. According to the report, the deal is anticipated to be accretive to earnings per share as soon as 2028.
Market data cited in the report showed movement in related public equities, with AON shares up 1.67% and KKR shares down 0.59% in the session referenced.
Context and implications
While details remain subject to the outcome of ongoing negotiations and confirmation from the companies involved, the deal would represent a sizable private equity exit and a significant deal in the insurance brokerage sector. Observers cited in the report link the transaction to broader portfolio moves by KKR and emphasize its potential to enhance USI's product set for midsize clients.
At this stage, the planned timing and several specifics remain contingent on successful completion of talks and formal announcements from the parties.