Aon has agreed to divest a “significant majority” of its subsidiary NFP’s wealth management business to US-based private equity firm Madison Dearborn Partners (MDP).
The deal, valued at approximately $2.7bn at the time of closure, encompasses Wealthspire Advisors, Fiducient Advisors, Newport Private Wealth, and related platforms.
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Post-transaction, these businesses will be consolidated and run under a unified brand.
Michael LaMena, currently CEO of Wealthspire Advisors, will lead the new entity as CEO, with Carl Nelson, current head of M&A at NFP, stepping in as president.
The businesses being sold reported an EBITDA of around $127m for the trailing 12-month period ending 30 June 2025.
The finalisation of the sale is scheduled for late Q4 2025, contingent on regulatory approvals and other standard closing conditions.
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By GlobalDataAccording to Aon, the deal will not materially affect its financial results for the year 2025.
Aon CEO Greg Case said: “With our 3×3 Plan to accelerate our Aon United strategy, we are more focused than ever on serving our clients’ risk and people needs with distinction. This transaction reinforces our ongoing commitment to investing in and growing our core Risk Capital and Human Capital capabilities.
“Through disciplined portfolio management, we are further strengthening our capital position while enabling greater flexibility for high-return growth investments that drive sustained value creation and shareholder returns.”
MDP managing partner and co-head of Financial Services Vahe Dombalagian stated: “For more than twenty years, we have successfully generated value for our portfolio companies in the financial services sector and are tremendously excited to welcome these outstanding businesses back to MDP.
“Aon and NFP have been great partners and we’re pleased to deepen our relationship through this transaction.”
NFP, operating under Aon, has a team spread across the US, Puerto Rico, Canada, the UK, and Ireland. The company’s services include property and casualty insurance, benefits, and retirement plan advisory.
