Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

KKR Agrees to Buy Majority Stake in Sedgwick for $2.4 Billion

Jan. 27 (Bloomberg) -- KKR & Co., the private-equity firm run by Henry Kravis and George Roberts, agreed to buy a majority stake in Sedgwick Claims Management Services Inc. from Hellman & Friedman LLC and Stone Point Capital LLC for $2.4 billion.

The deal is scheduled to close in the first quarter, subject to regulatory approval, according to a statement today from Memphis-based Sedgwick. KKR, based in New York, will use its North American XI fund to finance the equity investment.

The acquisition is KKR’s second in about four months of a company that processes claims related to workers’ compensation, auto collisions and unemployment. KKR in September agreed to buy Mitchell International Inc. from private-equity firm Aurora Capital Group in a transaction valued at about $1.1 billion including debt, a person with knowledge of the deal’s value said at the time.

UBS Securities LLC, Deutsche Bank Securities, Morgan Stanley, Mizuho, KKR Capital Markets LLC and MCS Capital Markets LLC provided financing for the transaction, according to the statement.

Link to Statement:{NSN N027D13MMTC1 <GO>}

Link to Company News:{6902Z US <Equity> CN <GO>} Link to Company News:{FIS US <Equity> CN <GO>} Link to Company News:{KKR US <Equity> CN <GO>}

To contact the reporter on this story: Devin Banerjee in New York at dbanerjee2@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.