Horace Mann Educators Corporation has completed the acquisition of Employee Services, LLC (ESI), an employee assistance program provider. The transaction, announced on October 1, 2026, involved the purchase of all outstanding membership interests of ESI from Medical Mutual of Ohio for $115 million in cash. The purchase price is subject to customary purchase price adjustments.
Following the closing of the deal, ESI became a wholly owned subsidiary of Horace Mann. The company stated that ESI’s services, which include confidential counseling and work-life assistance, complement Horace Mann’s existing insurance and financial solutions. This acquisition is intended to expand the company's ability to support the well-being of employees for school districts and other employers.
The deal was initially announced on July 21, 2026, as part of two agreements with Medical Mutual of Ohio. Horace Mann noted that a separate transaction to acquire all outstanding capital stock of Reserve National Insurance Company and assume the Group Life and Disability business of MedMutual Life remains subject to customary closing conditions and regulatory approvals. That transaction is expected to close in the first quarter of 2027.
Horace Mann is headquartered in Springfield, Illinois, and is the largest multiline financial services company focused on helping educators achieve lifelong financial success. Raymond James & Associates served as the financial advisor to Horace Mann, while Eversheds Sutherland (US) LLP acted as legal counsel.
