© Reuters. Aon plc (AON) to acquire NFP for $13.4 billion
Aon plc (NYSE:) has agreed to a deal to acquire NFP, a middle-market property and casualty broker, benefits consultant, wealth manager, and retirement plan advisor.
The acquisition, valued at an estimated $13.4 billion at the time of closure, will involve $7 billion in cash and $6.4 billion in Aon stock.
NFP is being acquired from funds associated with its primary capital sponsor, Madison Dearborn Partners, and funds affiliated with HPS Investment Partners.
“We have continually evolved our leading capabilities to better serve our clients’ growing needs amidst increasing volatility across the marketplace,” said Greg Case, CEO of Aon.
“The acquisition will advance our relevance to clients, create opportunities for our colleagues and further strengthen our shared cultural values.”
This strategic move is set to bolster Aon’s presence in the expanding middle-market segment, offering a comprehensive range of services in risk, benefits, wealth management, and retirement plan advisory, the company said.
Doug Hammond, the current chairman and CEO of NFP, will continue to lead the business as an independent yet interconnected platform within Aon, reporting to Eric Andersen, President of Aon.