AmWINS Group Inc. agreed to acquire San Mateo, Calif.-based general agent LISI Inc. and third-party administrator CoPower (Administrators) Inc.
Financial terms of the deal were not announced. Both the acquired entities will become part of AmWINS' group benefits division.
The deal is expected to close later in August, pending regulatory approval and customary closing conditions.
Sherman & Co. served as the financial adviser to LISI on the transaction.LISI Inc.