M&A Deal Summary

Aon Acquires NFP

On December 20, 2023, Aon acquired insurance company NFP from Madison Dearborn Partners for 13.4B USD

Acquisition Highlights
  • This is Aon’s 21st transaction in the Insurance sector.
  • This is Aon’s largest (disclosed) transaction.
  • This is Aon’s 13th transaction in the United States.
  • This is Aon’s 2nd transaction in Texas.

M&A Deal Summary

Date 2023-12-20
Target NFP
Sector Insurance
Buyer(s) Aon
Sellers(s) Madison Dearborn Partners
Deal Type Add-on Acquisition
Deal Value 13.4B USD
Advisor(s) Evercore Group
BofA Securities
Jefferies
TD Securities (Financial)
Skadden, Arps, Slate, Meagher & Flom
Ropes & Gray
Paul, Weiss, Rifkind, Wharton & Garrison (Legal)

Target

NFP

Austin, Texas, United States
website
NFP is a provider of benefits solutions for companies of all sizes and in the delivery of life insurance and wealth management solutions for high net worth individuals. NFP's independent broker/dealers offers a wide range of choices from some of the nation’s top investment companies. NFP is based in Austin, Texas.

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Buyer(S) 1

Buyer

Aon

Dublin , Ireland

website


Category Company
Founded 1919
Sector Insurance
Employees50,000
Revenue 11.1B USD (2020)
DESCRIPTION
Aon's offices in downtown Sydney, Australia.
Aon's offices in downtown Sydney, Australia.

Aon is a provider of risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing. Aon serves clients through two segments, Risk Solutions and HR Solutions. Risk Solutions acts as an advisor and insurance and reinsurance broker, helping clients manage their risks via consultation, as well as negotiation and placement of insurance risk with insurance carriers through our global distribution network. HR Solutions partners with organizations to solve their most complex benefits, talent and related financial challenges, and improve business performance by designing, implementing, communicating and administering a wide range of human capital, retirement, investment consulting, health care, compensation and talent management strategies. Aon was founded in 1919 and is based in Dublin, Ireland.


DEAL STATS #
Overall 34 of 35
Sector (Insurance) 21 of 21
Type (Add-on Acquisition) 24 of 25
State (Texas) 2 of 2
Country (United States) 13 of 13
Year (2023) 2 of 2
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-31 NGS Seguros

Uruguay

NGS Segurosis a risk management consultant in the Uruguayan insurance market. NGS offers a wide range of solutions to address the needs of clients of all sizes. NGS Seguros was founded in 1871 and is based in Uruguay.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-07 Humn.ai

Leeds, United Kingdom

Humn.ai is an AI-powered Platform that uses science and data in the precision insurance solution. The company improves road safety by building a risk & insurance platform Rideshur. Rideshur tracks thousands of environmental & behavioral data points in real-time, providing transportation risk modeling capabilities. Humn.ai is based in Leeds, United Kingdom.

Buy -

Seller(S) 1

SELLER

Madison Dearborn Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1992
PE ASSETS 28.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Madison Dearborn Partners (MDP) is a large private equity firm that targets buyouts of private or publicly held companies, divestitures of larger companies, recapitalizations of family-owned or closely-held companies, acquisition-oriented financings, and financings to fund internal growth. MDP's target investment size is $100 to $600 million in buyout oriented transactions and $100 to $400 million in growth capital commitments. Areas of interest include basic industries (natural resources, chemicals, energy and power, automotive, building products, food, metals and mining, refining, paper, packaging and forest products, and general manufacturing), as well as communications, consumer products/services, financial services, and healthcare. Madison Dearborn Partners was formed in 1992 and is based in Chicago, Illinois.


DEAL STATS #
Overall 70 of 70
Sector (Insurance) 1 of 1
Type (Add-on Acquisition) 31 of 31
State (Texas) 5 of 5
Country (United States) 62 of 62
Year (2023) 2 of 2
Size (of disclosed) 2 of 26
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-29 T2S Solutions

Belcamp, Maryland, United States

T2S is a provider of R&D, prototyping, engineering, integration, and technology products to mission critical programs for the U.S. Department of Defense (“DoD”), Intelligence Community (“IC”), and other U.S. Government Agencies. T2S was founded in 2010 and is based in Belcamp, Maryland.

Buy -