Sedgwick, a global provider of technology-enabled risk, benefits and integrated business products, has signed an agreement to acquire York Risk Services Group.
York is a Jersey City, N.J.-headquartered provider of claims administration, managed care, specialized loss adjusting, pool administration and loss control products. It serves a variety of clients, including corporations, the insurance industry and public entities..
BofA Merrill Lynch and Morgan Stanley & Co. LLC served as financial advisors to Sedgwick, and Simpson Thacher & Bartlett LLP and Clifford Chance US LLP served as legal advisors. Jefferies LLC and J.P. Morgan Securities LLC served as financial advisors to York, and Fried, Frank, Harris, Shriver & Jacobson LLP served as its legal advisor. BofA Merrill Lynch and Morgan Stanley Senior Funding, Inc. have provided committed debt financing for the transaction.
The closing of the transaction is subject to customary conditions and regulatory approvals. The terms of the agreement were not disclosed.
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