Trending...
- Leonardo Defense Systems receives new investment and expands Team
- Unveiling Puptqe: First-Ever Dog Bar Opening in Temecula Promenade This November
- Latest 8x8 Research Reveals IT and Contact Center Leaders Embrace Conversational AI or Fear Falling Behind
CHICAGO, Sept. 15, 2023 ~ Today, Hub International Limited (HUB), a leading global insurance brokerage, announced the successful completion of a substantial minority investment from Leonard Green & Partners, L.P. (LGP). The planned investment from the Los Angeles-based private equity firm was first announced in April of this year.
Since 2013, when Hellman & Friedman (H&F) initially invested in HUB, the company's valuation has grown fivefold to $23 billion today. The proceeds of this investment will be used to repurchase equity interests from existing equity holders. H&F will retain a controlling-interest in HUB, while the company's management team will continue to hold a significant equity position. Altas Partners (Altas) will remain a significant minority shareholder and member of the board, and LGP will join the board as well.
More on The Californer
Morgan Stanley & Co. LLC served as exclusive financial advisor to HUB, Simpson Thacher & Bartlett LLP served as legal counsel to HUB, and MarshBerry provided market research assistance to HUB. Barclays acted as exclusive financial advisor and Latham & Watkins LLP served as legal counsel to LGP.
Since 2013, when Hellman & Friedman (H&F) initially invested in HUB, the company's valuation has grown fivefold to $23 billion today. The proceeds of this investment will be used to repurchase equity interests from existing equity holders. H&F will retain a controlling-interest in HUB, while the company's management team will continue to hold a significant equity position. Altas Partners (Altas) will remain a significant minority shareholder and member of the board, and LGP will join the board as well.
More on The Californer
- Save the Date! Long Beach to Host Festive Street Parade in Celebration of Día de Los Muertos
- TVS Flashback Network Adds Love American Style, Operation Petticoat, and Murphy Brown to Fall Sked
- IEI Releases AFL4-EHL Series Panel PC to Provide Versatile, Cost-effective Solutions
- AETH and BTOP, Two First-of-their-Kind Ethereum Futures ETFs From Bitwise, Intend to Launch October 2
- Hollywood Actress and Model Sistine Stallone is the Cover Star of Dolce Magazine Fall 2023 Issue
Morgan Stanley & Co. LLC served as exclusive financial advisor to HUB, Simpson Thacher & Bartlett LLP served as legal counsel to HUB, and MarshBerry provided market research assistance to HUB. Barclays acted as exclusive financial advisor and Latham & Watkins LLP served as legal counsel to LGP.
Filed Under: Business
0 Comments
Latest on The Californer
- California: Governor Newsom on the Passing of U.S. Senator Dianne Feinstein
- Mission Cloud Named to 2023 Best Workplaces in Technology List
- Bitwise Files Form 8-As for Two New Ethereum Futures ETFs, AETH and BTOP; Funds Intend To Begin Trading on Monday, October 2
- Step Up Announces Return of Inspiration Awards
- Global Luxury Value Exchange, Idoneus, Transitions to 100% IDON Transactions
- Swiss-Based Enclustra Announces US Operations in San Diego to Realize the Full Potential of Embedded Chip Technologies
- Faraday Future Announces its Outline for October FF 91 2.0 Deliveries as Part of its Ongoing 'Delivery Co-Creation Day' Plan and Provides Business Update
- Long Beach Showcases Key Growth Opportunities in City's Emerging Business Sectors at Inaugural Grow Long Beach Presentation
- Atrium 916 to Launch Zero Waste Mobile Art Cafe- with Sunset Paint & Sip on the River
- 'The Music Box' by Joanna Thorn
- USA Green Card Celebrates the State Department's Historic Inclusion of the UK in the DV-2025 Green Card Lottery
- Oxnard College's Camarillo-Based Fire Academy Opens New Facility
- You're invited to Monogram International's booth (#265) at New York Toy Fair
- RBB Bancorp Announces Termination of Agreement to Acquire Gateway Bank, F.S.B.
- Yo Egg to Unveil Exclusive Plant-Based Quail-Sized Egg at the Vkind Experience
- The Law Offices of Frank R. Cruz Announces Investigation of GigaCloud Technology Inc. (GCT) on Behalf of Investors
- California Increases Minimum Wage, Protections for Fast-Food Workers
- Do Grandparents Make Good Parents?
- RNA and DNA Endonuclease from Serratia marcescens
- Cardless Unveils Enhanced Simon Card with 5% Cash Back at Every Store At Simon Centers