National Financial Partners, a provider of benefits, insurance and wealth management services, has entered into an agreement to be acquired by Madison Dearborn Partners for approximately $1.3 billion. The transaction is expected to close in the third quarter.
National Financial Partners (NYSE: NFP) provides advisory and brokerage services to companies and high net worth individuals. NFP operates in three business segments. The Corporate Client Group provides corporate and executive benefits, retirement plans and property and casualty insurance. The Individual Client Group includes retail and wholesale life insurance brokerage and wealth management advisory services. The Advisor Services Group serves independent financial advisors by offering broker/dealer and asset management products and services. The company is based in New York (www.nfp.com).
“We are pleased to have this opportunity to invest in NFP and help the company advance its strategy,” said Vahe Dombalagian, a managing director at Madison Dearborn. “We look forward to working closely with the company’s leadership team as it continues to build a strong diversified business. We fully support NFP’s focus on providing high-quality and value-added services to all of its clients, including corporations, through a more unified brand across its business segments.”
Madison Dearborn has obtained debt financing commitments from Deutsche Bank Securities, Morgan Stanley Senior Funding, and UBS Securities.
Madison Dearborn Partners has more than $18 billion of capital under management and makes new investments through its most recent funds, Madison Dearborn Capital Partners V and Madison Dearborn Capital Partners VI. Sectors of interest include basic industries; business and government services; consumer; financial services; health care; and telecom, media and technology services. Madison Dearborn Partners was founded in 1992 and is based in Chicago (www.mdcp.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 4-15-13