Sedgwick president and CEO “proud” and “humbled” by the $6.7bn deal
Sedgwick has announced that the $6.7bn deal which sees The Carlyle Group becoming majority owner, has been completed.
The deal was first announced in September, the deal has now been closed.
The Carlyle Group is now the majority owner of Sedgwick, with funds managed by Stone Point Capital LLC and Caisse de dépôt et placement du Québec (CDPQ), together with Sedgwick management, remain minority investors.
Dave North, president and chief executive of Sedgwick said he was proud and humbled by the deal.
He said: ”At Sedgwick, taking care of people is at the heart of everything we do, and I am proud that The Carlyle Group appreciates the value our colleagues create when they put our caring counts philosophy into practice.
“We are humbled by the confidence Carlyle has shown in our business model and look forward to partnering with them on developing and delivering innovative solutions for our clients around the world.”
On an annual basis, Sedgwick handles more than 3.6 million claims and has fiduciary responsibility for claim payments totaling more than $19.5 billion.