Epic Holdings Inc. has agreed to buy Integro Holdings Inc. for undisclosed financial terms.
The acquisition of Integro Holdings, which holds substantially all of Integro Group Holdings LP's U.S. operations, will add 400 team members to Epic. The members are working across 22 locations in the U.S.
The Insurance Insider reported in October that Epic and Arthur J. Gallagher & Co. were among the bidders for Integro Ltd.'s U.S. business. In September, the publication reported that private equity owner Odyssey Investment Partners LLC's was planning to split Integro in two and sell the broker's U.S. business.
The transaction is expected to close in January 2019.
Rob Giammarco of Bank of America Merrill Lynch served as financial adviser to Epic, while Chris Machera of Weil Gotshal & Manges LLP served as legal adviser. Stuart Britton at Evercore served as financial adviser and Paul Kukish at Latham & Watkins LLP acted as legal adviser for Integro.