Madison Dearborn and HPS to Sell NFP to Aon in $13.4 Billion Deal

Paul, Weiss advised funds affiliated with Madison Dearborn Partners and HPS Investment Partners in their sale of portfolio company NFP to leading global professional services firm Aon plc. NFP is a leading middle market property and casualty broker, benefits consultant, wealth manager and retirement plan advisor. Under the terms of the transaction, Aon will acquire NFP for a total consideration of approximately $13.4 billion, funded by $7 billion of cash and $6.4 billion of Aon stock.

NFP will continue to operate as an independent but connected platform within Aon. The deal is expected to close in mid-2024 at the earliest, subject to customary conditions and regulatory approvals.

The Paul, Weiss team is led by corporate partners Adam Givertz and Ian Hazlett; antitrust partner Scott Sher; and tax partner Scott Sontag.