Aon plc, a global professional services firm, has unveiled a transformative move with the signing of a definitive agreement to acquire NFP, a distinguished middle-market player in property and casualty brokering, benefits consulting, wealth management, and retirement plan advising. This strategic acquisition, poised to be a game-changer in the financial landscape, is set to be executed at an estimated total consideration of $13.4 billion at the time of closing, with $7 billion in cash and $6.4 billion in Aon stock financing the transaction.
The impending union with NFP positions Aon to fortify its foothold in the expansive and rapidly expanding middle-market sector, amplifying its capabilities across risk management, benefits advisory, wealth management, and retirement planning. Aon’s well-established Aon United strategy, coupled with its Aon Business Services operating platform and investments in cutting-edge analytics, has laid the groundwork for a sustained track record of success. The acquisition is poised to synergize the strengths of both entities, facilitating the seamless delivery of content and capabilities to the dynamic middle-market segment.
Doug Hammond, the Chairman and CEO of NFP, is slated to retain leadership of the business as an autonomous yet interconnected platform within Aon. He will report directly to Eric Andersen, Aon’s President. Aon envisions this strategic move as an opportunity to not only advance its relevance to clients but also to create avenues for professional growth for its colleagues. The acquisition aligns with Aon’s commitment to fostering a culture of shared values, client excellence, and a unified mindset.
“We have continually evolved our leading capabilities to better serve our clients’ growing needs amidst increasing volatility across the marketplace,” commented Greg Case, CEO of Aon. He emphasized that the acquisition is poised to enhance Aon’s ability to provide value to clients, open new avenues for colleagues, and fortify the shared cultural ethos. Aon perceives NFP as an ideal partner for growth, with NFP’s entrepreneurial culture seen as a valuable addition to Aon’s expansive capabilities.
Founded in 1999 and boasting a team of over 7,700 colleagues, NFP has established itself as a leader in addressing the multifaceted challenges of middle-market clients, encompassing risk management, workforce solutions, wealth management, and retirement planning. The acquisition positions NFP to harness the depth and breadth of Aon’s capabilities, creating a symbiotic relationship that promises to generate enhanced value for clients, colleagues, and shareholders alike.
