PE-backed Sedgwick CMS has agreed to acquire Specialty Risk Services, a third-party claims administrator, from The Hartford Financial Services Group (NYSE: HIG) for $278 million in cash. The Hartford is being financially advised by Credit Suisse on the transaction. Sedgwick was acquired by Stone Point Capital and Hellman & Friedman through a $1.1 billion LBO in May.
© 2020 PitchBook Data. All rights reserved. PitchBook is a financial technology company that provides data on the capital markets.