Claims management giant Sedgwick has secured North American private equity firm Altas Partners as a new investor.
The deal, which values Sedgwick at approximately US$13.2 billion, will see Altas invest US$1 billion in equity and become an active player in Sedgwick’s future growth.
Carlyle, which initially invested in Sedgwick in 2018 when the company was valued at US$6.7 billion, will continue to hold a controlling stake, working alongside Altas, Sedgwick’s management, and existing investor Stone Point Capital.
Sedgwick chief executive Mike Arbour (pictured) noted: “This new partnership with Altas, and our current stakeholders, brings together a strategic vision that builds our global footprint, expands comprehensive service capabilities, and enhances our business for decades to come.
“Altas has a history of actively supporting companies in its portfolio, and they are very knowledgeable in the challenges our clients face in today’s competitive business environment.”
Will McMullan, partner and co-head of global financial services at Carlyle, expressed immense pride over Sedgwick’s development under Carlyle’s ownership.
“As we welcome Altas to the partnership, we are excited about the future and look forward to supporting Sedgwick’s continued growth and innovation,” he added. “Together, with our new and existing partners, we are committed to further enhancing Sedgwick’s industry-leading capabilities and global footprint.”
Altas, known for its highly selective investment strategy, sees the global claims management group as a prime fit.
“Sedgwick is an exceptional company, led by a terrific team, that we have coveted for many years,” highlighted Altas partner Paul Emery. “Our strategy is incredibly selective; we only invest in businesses that possess the rare combination of quality, durability, and meaningful line of sight for growth.”
In 2023, Sedgwick managed over eight million claims worldwide and oversaw more than US$33 billion in claim payments.
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