Transaction|October 2, 2013
Hub International agrees to be acquired by Hellman & Friedman LLC
Torys acted as Canadian counsel to Hellman & Friedman with a team that included Cameron Koziskie, Ryan Unruch, Graeme Murray and Shane Attersley (corporate/securities), Blair Keefe, Omar Wakil and Arezou Farivar (regulatory), Adam Delean, Tom Zverina and Nadine Rockman Katz (lending), Lynne Lacoursière (employment), Nooreen Bhanji (real estate) and John Tobin (tax).
On October 2, 2013, Hub International Limited (Hub) announced the successful completion of its buyout by funds advised by Hellman & Friedman LLC (Hellmann). The transaction values Hub at approximately US$4.4 billion. In connection with the closing of the transaction, HUB also completed the funding of a US$2.1 billion senior secured credit facility, and a US$950 million private offering of senior unsecured notes.
Under the terms of the agreement, investment funds managed by Hellman & Friedman now hold a majority interest in the company, while members of Hub's senior management continue to hold a significant equity position.
Hub International Limited is a leading global insurance brokerage providing property and casualty, life and health, employee benefits, investment and risk management products and services through offices located in the United States (including Puerto Rico), Canada and Brazil.
Hellman & Friedman LLC is a leading private equity investment firm with offices in San Francisco, New York and London, which has raised and, through its affiliated funds, managed over US$25 billion of committed capital.
Further information can be found on Hub's website.
Under the terms of the agreement, investment funds managed by Hellman & Friedman now hold a majority interest in the company, while members of Hub's senior management continue to hold a significant equity position.
Hub International Limited is a leading global insurance brokerage providing property and casualty, life and health, employee benefits, investment and risk management products and services through offices located in the United States (including Puerto Rico), Canada and Brazil.
Hellman & Friedman LLC is a leading private equity investment firm with offices in San Francisco, New York and London, which has raised and, through its affiliated funds, managed over US$25 billion of committed capital.
Further information can be found on Hub's website.