Private-equity investment values Sedgwick at $13.2 billion

Private-equity investment firm Altas Partners LP has committed to invest $1 billion in Sedgwick Claims Management Services Inc., which implies a total enterprise value of $13.2 billion, Sedgwick said Thursday.

Sedgwick’s existing private-equity investors, including funds managed by Carlyle Group Inc. — the company’s majority shareholder — and Stone Point Capital LLC, will “continue to make significant new investments in the business,” Sedgwick said in a statement.

The investment by Toronto-based Altas is expected to close in the fourth quarter, the statement said. Among its other holdings, Altas is an investor in insurance brokerage Hub International Ltd.

Sedgwick, which has been private-equity owned for 25 years, is the world’s largest third-party administrator, with $4.62 billion in 2023 gross revenue, according to Business Insurance’s most recent ranking.