Today’s issue of WorkCompRecap features some M&A news with Sedgwick’s announcement that The Carlyle Group (NASDAQ: CG) has entered into an agreement to become the majority owner of Sedgwick in a transaction valued at approximately $6.7 billion.
Current majority shareholder KKR will fully exit its position following the transaction. Funds managed by Stone Point Capital LLC and Caisse de dépôt et placement du Québec (CDPQ), together with Sedgwick management, will remain minority investors. The parties are working to close the deal later this year, and it is subject to customary closing conditions, including regulatory approvals. On an annual basis, Sedgwick now handles more than 3.6 million claims and has fiduciary responsibility for claim payments totaling more than $19.5 billion.
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