Canadian Underwriter
News

Marsh & McLennan Companies sells Kroll in $1.13-billion cash deal


June 7, 2010   by Canadian Underwriter


Print this page Share

Marsh & McLennan Companies Inc. (NYSE: MMC) is selling its risk consulting subsidiary company, Kroll Inc., to Altegrity Inc. for $1.13 billion in cash.
Altegrity is an international screening and security solutions company owned by Providence Equity Partners, a global private equity firm specializing in equity investments in media, entertainment, communications and information companies.
The transaction is expected to close by late September, subject to regulatory approvals and other customary closing conditions.
“Over the past six years, Kroll has been a valued member of the MMC family,” MMC president and CEO Brian Duperreault said of the deal. “However, we have determined our long-term strategy is to focus on the Risk and Insurance Services and Consulting businesses.
“Altegrity, with its complementary practice areas and expertise, will be a superb partner with Kroll to help drive the continued success of Kroll’s businesses and people.”
Altegrity CEO Mike Cherkasky served as president and CEO of Kroll from 2001 to 2004. “The combination of Kroll and Altegrity broadens our capabilities with the addition of a portfolio of industry-leading services to help clients identify and manage risk,” Cherkasky said in a press release. “Altegrity and Kroll will leverage their combined resources to develop new and innovative solutions for government and commercial clients across a global platform.”
Following the completion of the transaction, Altegrity companies will have approximately 11,000 employees across 30 countries providing information and insight to business leaders making decisions about employment, litigation, investment, security, risk and regulatory compliance matters.

 

 


Print this page Share

Related


Have your say:

Your email address will not be published. Required fields are marked *

*