Sedgwick CMS acquired by Stone Point Capital and Hellman & Friedman

Private equity firms Stone Point Capital LLC and Hellman & Friedman LLC have acquired Sedgwick Claims Management Services Inc. for approximately $1.1 billion.
“We are excited to be partnering with Stone Point and Hellman & Friedman for the next stage of Sedgwick CMS’s growth,” Sedgwick CMS president and CEO David A. North said in a press release.
“Stone Point and Hellman & Friedman share our vision for continuing the growth of Sedgwick CMS through focusing on our clients and delivering highly responsive, cost-effective claims and productivity management solutions,” he added.
The transaction is expected to close during the second quarter of 2010, subject to usual and customary conditions and the receipt of regulatory approvals, according to a joint release.
Bank of America Merrill Lynch and Barclays Capital have provided commitments to finance the transaction.