Sale of majority interest in Hub International by private equity firm closes

Private equity firm Hellman & Friedman has successfully completed its buyout the majority interest in Hub International, a deal first announced in August. The transaction values Hub at roughly $4.4 billion.

 Under the terms of the agreement, investment funds managed by Hellman & Friedman will hold a majority interest in the company, while members of Hub’s senior management will continue to have a significant equity position, according to the August announcement from Hub.

“We are very excited to move forward with our new partner, Hellman & Friedman,” Martin Hughes, Hub’s chairman and CEO commented in a statement on the closing of the deal. “This transaction will strengthen our company’s already solid foundation and enhance our ability to build Hub well into the future.”

“Hub is an exceptional organization and has established itself as a market leading, premier insurance brokerage,” added David Tunnell, managing director of Hellman & Friedman. “We are excited to partner with the Hub team and to support them in their next stage of growth going forward.”