Sedgwick, a global leader in claims management, loss adjusting, and technology-driven solutions, has formed a strategic partnership with Altas Partners, a prominent North American private equity firm.
Sedgwick excels in managing claims and adjusting losses, serving millions annually across the globe. In 2023 alone, the company handled over eight million claims and managed fiduciary responsibilities for claim payments totalling more than $33bn.
This partnership marks a significant phase in Sedgwick’s journey, reflecting a shared commitment to advancing industry standards and service quality. The combined efforts are expected to drive innovation and client satisfaction in the claims management and loss adjusting sectors.
The transaction, facilitated by Morgan Stanley & Co. LLC, BofA Securities, J.P. Morgan Securities LLC, and Barclays, with legal advisement from Latham & Watkins LLP and Kirkland & Ellis, is anticipated to close in the fourth quarter of 2024, pending customary closing conditions.
Mike Arbour, CEO of Sedgwick, said, “This new partnership with Altas, and our current stakeholders, brings together a strategic vision that builds our global footprint, expands comprehensive service capabilities and enhances our business for decades to come.
“Altas has a history of actively supporting companies in its portfolio, and they are very knowledgeable in the challenges our clients face in today’s competitive business environment. We look forward to leveraging their expertise as informed and engaged strategic allies as we continue to lead the industry in innovation and enable clients to thrive by helping them navigate the unexpected.”
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