Loading LiveCycle Banners.
  1. News Articles
  2. Related News Articles
  3. Comments (1)
News Article Details

Hub Sold to Hellman for $4.4 Billion

Source: WSJ

Back | A- | A+
 Email This     Print     Subscribe

Posted on 05 Aug 2013 by Neilson

Hub International acquired by HellmanHub International Ltd. is being sold to Hellman & Friedman LLC in a deal that values the insurance brokerage at $4.4 billion, a move it says will allow it to enhance its product and service capabilities and expand its geographic footprint.

Under the terms of the agreement, investment funds managed by Hellman & Friedman will hold a majority interest in the company, while members of Hub's senior management will continue to have a significant equity position.

Hub-which has more than 6,500 employees in the U.S. Canada and Brazil-is expected to report 2013 revenue of about $1.2 billion, after the annualized impact of acquisitions.

The deal is expected to close before the year's end.

Buyout firm Apax Partners and Morgan Stanley took the company private for $1.8 billion, including $145 million of debt, in 2007.

Based in Chicago, Hub provides property and casualty, life and health, employee benefits, investment and risk management products and services.

Earlier this year, Hub acquired the assets of Shreveport, La.-based employee benefits brokerage firm Benefit Concepts Inc. for an undisclosed amount.


Cindy Lirette  Aug 5 2013 9:47AM Report Abuse
Post a Comment
If you are a Storefront / Tradingfloor user, click here to login.
Note: As a guest user, please fill out the form below to post a comment.
Post your comments here.
Name :
Email Address :
Captcha :
Comments :
Character left : 2000