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Aon to acquire USI to establish the premier U.S. middle-market platform

$AONPress releaseAug 31, 2026, 6:30 AM ETRead the release

Aon announced a definitive agreement to acquire USI Insurance Services from KKR for $17.0 billion, creating a premier platform in the large and growing U.S. middle-market segment. The transaction is expected to generate $395 million in annual run-rate net adjusted EBITDA synergies and become accretive to adjusted EPS in 2028, with USI CEO Mike Sicard set to become President of Aon.

Key figures

Deal Value Usd
$17.0 billion
Ebitda multiple
14.5x
Eps accretive year
2028
Net purchase price
$16.7 billion
Target annual revenue
$3 billion
Annual run rate synergies
$395 million

AI analysis

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