Sedgwick Switches PE Backers

A group of investors, including Fidelity National Financial, Thomas H. Lee Partners and Evercore Capital Partners, has completed the sale of Sedgwick Claims Management Services to Stone Point Capital and Hellman & Friedman for $1.1 billion, almost double the $635 million they paid for the company in 2006. Sedgwick provides claims and productivity management solutions to employers. BofA Merrill Lynch and Barclays Capital provided financing for the transaction, which is the second time Stone Point has backed Sedgwick. The firm previously participated in a buyout of the company in 1999.