Aon plc has announced the completion of its $13 billion acquisition of NFP, a middle market property and casualty broker, from Madison Dearborn Partners and HPS Investment Partners. The deal, which includes $7 billion in cash and assumed liabilities, plus $6 billion in equity, closed faster than expected and is anticipated to bring about accretion and free cash flow benefits one year ahead of initial projections. NFP will maintain autonomous operations as an ‘independent and connected’ platform within Aon, focusing on Risk Capital and Human Capital capabilities, with NFP CEO Doug Hammond reporting to Aon President Eric Andersen. Aon’s strategic move seeks to extend its reach in the middle-market segment and deliver enhanced value to its clients and shareholders, while furthering Aon’s 3×3 Plan to expedite the Aon United strategy. The successful integration of NFP is expected to offer more options and services to clients by leveraging Aon’s Business Services platform to scale new capabilities. The financial advisors for the transaction included UBS Investment Bank for Aon and Evercore for NFP, with Citi advising on the transaction financing. Legal advisory was provided by Cravath, Swaine & Moore LLP and McDermott Will & Emery LLP for Aon, and Skadden, Arps, Slate, Meagher & Flom LLP, Ropes & Gray LLP, and Paul, Weiss, Rifkind, Wharton & Garrison LLP for NFP and its capital sponsors. The acquisition is consistent with Aon’s mission to shape decisions for the better by offering integrated Risk Capital and Human Capital expertise to clients globally. Aon is expected to provide further updates on the acquisition’s financial impact during its earnings call on April 26, 2024.

Financial Services, Private Equity, Professional Services,Global, United States, Ireland

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