Today’s issue of WorkCompRecap features the announcement from Sedgwick that it has signed an agreement to acquire York Risk Services Group.
Sedgwick noted that York’s customized claims solutions and specialized experience handling complex claims across all liability lines will be notable complements to its existing capabilities. York has nearly 5,000 employees in more than 60 offices across the U.S. and a strong international presence. Readers will also recall that Sedgwick gained 6,000 employees around the world in its acquisition of Cunningham Lindsey, which closed in April 2018. Once complete, this transaction will bring Sedgwick’s total headcount to almost 27,000. BofA Merrill Lynch and Morgan Stanley Senior Funding, Inc. provided committed debt financing for the transaction, and closing is subject to customary conditions and regulatory approvals.
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