Goldman Sachs' ( GS) private equity arm agreed to acquire USI Holdings ( USIH) in a deal valued at roughly $1.4 billion.

GS Capital Partners will pay $17 a share in cash for the insurance and financial services outfit. The price represents a premium of 20.5% to the average closing share price for the 30 calendar days prior to Oct. 24, the day USI announced that it had received an indication of buyout interest from a private equity firm.

USI said it had interest from several potential buyers, including GS Capital Partners.

The transaction is expected to close in the second quarter.

Shares of USI recently were up 97 cents, or 6.2%, to $16.52.

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