"At a time when there are lots of fears and questions on the potential protectionism and border adjustment tax," Lescure said, "being exposed to small and medium companies is a safer way of exposing yourself to the U.S. economy." Valhalla, New York-based USI had net debt of about $1.82 billion as of Dec. 31 and generated 2016 earnings of $353 million before interest, taxes, depreciation and amortization.