USI Insurance Services Wednesday said it closed the acquisition of First Place Insurance Agency Ltd. from First Place Financial Corp. (FPFC). USI is a portfolio company of Goldman Sachs Capital Partners, a private equity affiliate of Goldman Sachs & Co.
USI also inked a marketing agreement with First Place Financial to provide expanded insurance and related products and services to their respective clients. Terms of the transaction were not disclosed.
USI expects Youngstown, Ohio-based First Place Insurance to contribute about $3.6 million in revenues on an annual basis.
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