Memphis, TN (Sept. 4, 2019) \u2013 Sedgwick, a leading global provider of technology-enabled risk, benefits and integrated business solutions, today announced the completion of its purchase of York Risk Services Group, a premier provider of claims administration, managed care, specialized loss adjusting, pool administration and loss control solutions.<\/p>\n
York\u2019s customized claims solutions and specialized expertise complement and enrich Sedgwick\u2019s market capabilities. The strategic acquisition brings to Sedgwick approximately 5,000 highly skilled professionals serving a variety of clients, including corporations, the insurance industry and public entities. With the close of the acquisition, the Sedgwick family now comprises nearly 27,000 colleagues across 65 countries.<\/p>\n
\u201cThe York acquisition marks another milestone in our storied half-century of growth,\u201d said Sedgwick president and CEO Dave North, referencing the company\u2019s 50th anniversary in 2019. \u201cJoining forces with York enhances Sedgwick\u2019s position as a global industry leader. Together, we\u2019ll have the capacity to support more customers in times of need; taking care of people is at the heart of everything we do, because caring counts.\u201d<\/p>\n
\u201cIntegrating our two companies\u2019 expertise and capabilities will enhance our service offerings, bring us into new markets, and present exciting growth opportunities for our talented colleagues,\u201d said Thomas Warsop, chairman and CEO of York. \u201cThis union is great news for the industry and for all our valued stakeholders.\u201d<\/p>\n
As part of the transaction, entities controlled by Onex Corporation (TSX: ONEX), an investment manager founded in 1984 that owned York, are rolling their equity into the combined business and join Sedgwick\u2019s shareholder group as a minority investor.<\/p>\n
BofA Merrill Lynch and Morgan Stanley & Co. LLC served as financial advisors to Sedgwick, and Simpson Thacher & Bartlett LLP and Clifford Chance US LLP served as legal advisors. Jefferies LLC and J.P. Morgan Securities LLC served as financial advisors to York, and Fried, Frank, Harris, Shriver & Jacobson LLP served as its legal advisor. BofA Merrill Lynch and Morgan Stanley Senior Funding, Inc. acted as joint lead arrangers on the incremental debt for the transaction.<\/p>\n
About Sedgwick<\/strong><\/p>\n Sedgwick is a leading global provider of technology-enabled risk, benefits and integrated business solutions. The company provides a broad range of resources tailored to clients\u2019 specific needs in casualty, property, marine, benefits and other lines. At Sedgwick, caring counts\u00ae; through the dedication and expertise of nearly 27,000 colleagues across 65 countries, the company takes care of people and organizations by mitigating and reducing risks and losses, promoting health and productivity, protecting brand reputations, and containing costs that can impact the bottom line. Sedgwick\u2019s majority shareholder is The Carlyle Group; Stone Point Capital LLC, Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec (CDPQ), Onex and other management investors are minority shareholders. To learn more, visit www.sedgwick.com<\/a>.<\/p>\n SOURCE: Sedgwick<\/em><\/p>\n Tags: Acquisition<\/a>, Sedgwick<\/a> Read the original article at Insurance-Canada.ca <\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Memphis, TN (Sept. 4, 2019) \u2013 Sedgwick, a leading global provider of technology-enabled risk, benefits and integrated business solutions, today announced the completion of its purchase of York Risk Services Group, a premier provider...<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/16662"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=16662"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/16662\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=16662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=16662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=16662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}