Altas Partners to buy minority interest in H&F’s Hub International
Canadian long-term private equity firm Altas Partners has agreed to acquire a minority stake in Hub International Ltd, a Chicago-based insurance brokerage. The deal, expected to close later this year, implies an enterprise value for Hub of more than US$10 billion. U.S. private equity firm Hellman & Friedman (H&F), which acquired Hub in 2013 for about US$4.4 billion, will remain the company's largest investor. The management team will also continue to hold an equity position. Hub was established in 1998 with the merger of 11 Canadian insurance brokerages. Altas Managing Partner Scott Werry said his firm will work with Hub and H&F to support the company's "numerous growth opportunities."
17 October 2018•4 mins read
