Hub International

active

Insurance — Hellman & Friedman

Deal Terms

Entry Year2018

Entry EV$10B

Entry Multiple14x

Leverage7x

Debt Amount$7B

Risk Metrics

LTV (est.)70%

Debt / EV0.70x

Notes

H&F-backed insurance brokerage rollup. $10B+ EV, $7B+ debt. 700+ acquisitions since 2007. Largest privately held US insurance broker. 7x leverage. PE-driven insurance brokerage consolidation: buy small brokers, raise commissions, repeat. Debt service requires constant acquisitions.

Sponsor

Hellman & Friedman$80B AUM