Hub International has announced an agreement with Altas Partners, a Toronto-based investment firm. Under the agreement, funds managed by Altas Partners will make a substantial minority investment in Hub. Funds managed by Hellman & Friedman will remain the majority investor in Hub, and the company’s management team will continue to hold a significant equity position.
The transaction implies a total enterprise value for Hub of more than $10 billion, the company said. For the 12-month period ending September 30, the company expects to report more than $2 billion in total revenue, up from $1.1 billion for the 12-month period that ended prior to H&F’s acquisition of Hub in October 2013.
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