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Sedgwick closes acquisition of York Risk Services Group

Sedgwick completed its acquisition of York Risk Services Group Inc., a Parsippany, N.J.-based claims and risk management services provider.

Entities controlled by Toronto-based investment manager and previous York Risk Services owner Onex Corp. will roll their equity into the combined business as part of the transaction. They will also be a part of Sedgwick's shareholder group as minority investors.

Bank of America Merrill Lynch and Morgan Stanley & Co. LLC were financial advisers to Sedgwick, while Simpson Thacher & Bartlett LLP and Clifford Chance US LLP were its legal advisers. Jefferies LLC and J.P. Morgan Securities LLC were financial advisers to York Risk Services. Fried Frank Harris Shriver & Jacobson LLP was York Risk Services' legal adviser. BofA Merrill Lynch and Morgan Stanley Senior Funding Inc. were the joint lead arrangers on the incremental debt for the transaction.

Memphis, Tenn.-based Sedgwick provides technology-enabled risk, benefits and integrated business solutions.