Sedgwick, a global provider of claims management, loss adjusting and technology-enabled business solutions, has announced the closing of a $1 billion investment in the company led by Altas Partners, a North American private equity firm.
Current investors, including funds managed by global investment firm Carlyle and Stone Point Capital LLC, will remain as such and continue to make significant new investments in the business, according to the announcement.
Additionally, Carlyle will maintain its control position in partnership with the investor group and the Sedgwick management team.
As minority shareholders, long-standing investors CDPQ and Onex are to maintain their ongoing commitment to Sedgwick.
“Today marks a significant milestone for Sedgwick as we embark on our journey that brings together a strategic vision building on our global footprint, comprehensive service capabilities and new service offerings for decades to come,” said Mike Arbour, CEO of Sedgwick. “We are grateful to our team of investors for their continued support of our work.”
Following the investment by Altas, Sedgwick’s total enterprise value is now approximately $13.2 billion, an increase from $6.7 billion when Carlyle made its initial investment in Sedgwick in 2018.
Upon Altas’ investment, Sedgwick’s overall enterprise value has risen from $6.7 billion in 2018, when Carlyle made its initial investment, to approximately $13.2 billion today.
“As Sedgwick continues to grow and expand operations, services and offerings around the world, our colleagues, with the support of the investors, will enhance this mission. The company will continue to remain an independent, private company with an unwavering focus on claims handling excellence, leveraging data and technological innovation to drive new successes,” Sedgwick stated.
Morgan Stanley & Co. LLC and BofA Securities served as financial advisors and Latham & Watkins LLP served as legal advisor to Sedgwick.
J.P. Morgan Securities LLC and Barclays served as financial advisors and Kirkland & Ellis served as legal advisor to Altas.
