Navacord to buy minority stake held by Fairfax with Madison Dearborn's support
Navacord said July 4 that it has agreed to a management-led buyout of its minority capital partner, Fairfax Financial Holdings. Madison Dearborn Partners is backing the transaction. Financial terms weren’t announced. Navacord, of Toronto, is a Canadian insurance brokerage. Bank of America Merrill Lynch provided financial advice to Navacord, while Paul, Weiss, Rifkind, Wharton & Garrison LLP, Felesky Flynn LLP and McBride Wallace Laurent & Cord LLP served as legal advisors. Kirkland & Ellis LLP and Stikeman Elliott LLP served as MDP’s legal advisors.
5 July 2018•3 mins read
