Hub International, a Chicago, IL-based global insurance broker and financial services firm, received a minority investment from Leonard Green & Partners, along with several other institutional minority investors.
The planned investment from LGP was announced in April of this year.
The company intends to use the funds to repurchase equity interests from existing equity holders.
Hub International is a global insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services via more than 17,000 employees in offices located throughout North America.
In 2022, HUB recorded $3.7 billion in annual revenue and is now valued at $23 Billion. HUB’s valuation has grown fivefold over the last 10 years from $4.4 billion in 2013 when Hellman & Friedman (H&F) initially invested to $10 billion in 2018 when Altas Partners (Altas) joined with its investment. Hub’s management team will continue to hold a significant equity position. Altas will remain a significant minority shareholder and member of the board, and LGP will join the board as well.
FInSMEs
18/09/2023