USI Holdings Corp. said it has closed on its deal to acquire Seattle-based Kibble & Prentice Holding Company. Terms of the deal were not released.
USI announced its intention to acquire the firm last month. Kibble & Prentice is expected to contribute approximately $37 million of revenues to USI on an annual basis.
Founded in 1972, Kibble & Prentice is a major insurance broker in the Pacific Northwest with more than 200 employees. The firm's business is a mix of property-casualty, employee benefit and other financial services.
USI said the combination of Kibble & Prentice with USI's existing Seattle operation would create one of the largest middle-market brokers in the Pacific Northwest.
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