Altas Partners to invest in Carlyle's Sedgwick

(Corrects company name throughout; the story was previously corrected to fix company name in media packaging code and remove a typo in headline)

(Reuters) - Private equity firm Carlyle Group-owned Sedgwick on Thursday announced a strategic investment from Altas Partners that will imply a total enterprise value of $13.2 billion.

Altas has committed to invest $1 billion of equity as part of the transaction, the insurance claim service provider said in a statement.

Sedgwick said its current investors, including Carlyle and Stone Point Capital, will remain and continue to finance the business.

Morgan Stanley and BofA Securities served as Sedgwick's financial advisors for the deal, while J.P. Morgan Securities and Barclays advised Altas.

Sedgwick is a global provider of claims management, loss adjusting and technology-enabled business solutions that helps companies manage their insurance claims such as workers' compensation.



In 2018, Carlyle became the majority shareholder in Sedgwick in a $6.7 billion transaction.

(Corrects company name throughout; the story was previously corrected to fix company name in media packaging code and remove a typo in headline)

Source: Investing.com