Hellman & Friedman is reportedly looking to sell a stake in
HUB International in a deal that could value the broker at around $6-$7 billion, including debt.
Sources familiar with the matter told Reuters that a number of other private equity firms, as well as sovereign wealth funds and public pension funds are considering an investment in HUB.
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Private equity firm Hellman & Friedman acquired HUB from Apax Partners four years ago for $4.4 billion, including debt. HUB operates over 400 brokerages across Canada and the US. According to Moody’s Investors Service, the company generated total revenue of $1.6 billion for the fiscal year ending September 2016. HUB offers personal, business and employee benefit insurance products.
When contacted for a comment, Hellman & Friedman declined to make a statement, while HUB did not respond to the newswire’s request.
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