{"id":24382,"date":"2024-01-13T16:03:40","date_gmt":"2024-01-14T00:03:40","guid":{"rendered":"https:\/\/essential.construction\/news\/aon-to-acquire-nfp-on-site-magazine\/"},"modified":"2024-01-13T16:03:41","modified_gmt":"2024-01-14T00:03:41","slug":"aon-to-acquire-nfp-on-site-magazine","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/aon-to-acquire-nfp-on-site-magazine\/","title":{"rendered":"Aon to acquire NFP – On-Site Magazine"},"content":{"rendered":"

\"-\"<\/a>
\n<\/p>\n

\n

<\/a>Global professional services firm Aon plc has signed a definitive agreement to acquire NFP, a leading middle market property and casualty broker, benefits consultant, wealth manager and retirement plan advisor. Under the terms of the transaction, Aon will acquire NFP for a total consideration estimated to be $13.4 billion (US) at the time of close, which will be funded by $7 billion in cash and $6.4 billion of Aon stock.<\/p>\n

Aon says the acquisition of NFP will expand its presence in the large and fast-growing middle-market segment, with capabilities across risk, benefits, wealth and retirement plan advisory.<\/p>\n

Doug Hammond, chairman and CEO of NFP, will continue to lead the business as an independent but connected platform within Aon, reporting to Eric Andersen, president of Aon.<\/p>\n

\u201cWe have continually evolved our leading capabilities to better serve our clients\u2019 growing needs amidst increasing volatility across the marketplace,\u201d said Greg Case, CEO of Aon. \u201cThe acquisition will advance our relevance to clients, create opportunities for our colleagues and further strengthen our shared cultural values. Doug and NFP have built an exceptional team, with a complementary one-firm mindset, and we expect to both learn from their entrepreneurial culture and share with them the depth and breadth of our capabilities to create more value for clients, colleagues and shareholders.\u201d<\/p>\n

NFP is a leader in property and casualty brokerage, benefits consulting, wealth management and retirement plan consulting for middle-market clients with more than 7,700 colleagues. Through strong local relationships and a people-first approach focused on well-being, belonging and impact, NFP aims to help companies and individuals address their most significant risk, workforce, wealth management and retirement challenges. NFP, which was founded in 1999 and is privately held, sees Aon as an ideal partner for its growth and serving the dynamic needs of clients.<\/p>\n

\u201cThis is an exciting milestone in NFP\u2019s evolution that reflects the tremendous quality of the business we\u2019ve built and the exceptional people who drive our success,\u201d said Hammond. \u201cAon is an industry leader in delivering risk capital and human capital capabilities and this acquisition is compelling for many reasons. Our clients will benefit from Aon\u2019s global resources and distribution, while our people will have more opportunities to accelerate the growth of NFP. With aligned values and capabilities across different-sized market segments, we look forward to working with the Aon team to elevate performance and make the transaction successful for everyone involved.\u201d<\/p>\n

\u201cNFP has one of the most high-performing leadership teams and cultures that I\u2019ve come across in the marketplace in my 30-plus years in the business,\u201d said Andersen. \u201cNFP\u2019s team shares our one-firm mindset and commitments to client excellence and growth, and I\u2019m looking forward to working with Doug and all the colleagues at NFP when they join our firm as an Aon company.\u201d<\/p>\n

Closing of the transaction is subject to customary conditions, including regulatory approvals, and is expected to occur in mid-2024. However, financial metrics are calculated conservatively based on a June 30, 2025, closing date. Aon and NFP will continue to operate independently until the closing date.<\/p>\n

\u00a0<\/p>\n

www.aon.com<\/a><\/p>\n

www.nfp.com<\/a><\/p>\n<\/p><\/div>\n