The private equity giant Kohlberg Kravis Roberts agreed on Monday to buy Sedgwick Claims Management Services, a provider of insurance claims processing, for $2.4 billion.
K.K.R. is buying control from Sedgwick’s existing investors, including Hellman & Friedman and Stone Point Capital.
The deal is the latest multibillion-dollar transaction by K.K.R. in recent months. Last week, the firm and Affinity and Equity Partners agreed to sell Oriental Brewery, a big Korean beer maker, back to Anheuser-Busch InBev for about $5.8 billion.
And over the last four months, it has announced a number of takeovers, including the purchase of Panasonic Healthcare for nearly $1.7 billion; the $1.6 billion acquisition of the Brickman Group, a landscaping company; and the $1 billion takeover of Mitchell International, a maker of claims processing technology.
Sedgwick says it handles more than 2.1 million claims and oversees claim payments worth more than $11 billion, primarily in areas like auto insurance and workers’ compensation.
“This is a critical time for employers as they adjust to an evolving health care delivery model, the shifting demographics of the work force and a multitude of additional challenges,†Tagar C. Olson, the head of K.K.R.’s financial services investment practice, said in a statement.
The deal is expected to close by March 31.
K.K.R. received financing from UBS, Deutsche Bank, Morgan Stanley, Mizuho, KKR Capital Markets and MCS Capital Markets. It received legal advice from Latham & Watkins, while Sedgwick took legal counsel from Simpson Thacher & Bartlett.
