Willis Towers Watson $1.4 billion acquisition of TRANZACT

Overview:

• UK-headquartered insurance and risk management company Willis Towers Watson has acquired US direct-to-consumer insurance products company TRANZACT.
• TRANZACT was sold by Clayton Dubilier & Rice. 
• Willis Towers Watson obtained financing for the deal in the form of a term loan from BofA Merrill Lynch. 
• BofA Merrill Lynch acted as financial adviser for Willis Towers Watson and JP Morgan Securities advised TRANZACT. 
• The transaction is expected to close in the third quarter of 2019. 

Kurt Stumpo - US Editor