Aon Sells Back NFP Wealth Side to Madison Dearborn
Madison Dearborn Partners (MDP) has acquired a bulk of NFP’s Wealth Business for an estimated $2.7 billion, Aon officials announced today.
The acquisition comes just one year after Aon acquired NFP from MDP in a $13.4 billion deal.
Now, a majority of NFP’s wealth side, including Wealthspire Advisors, Fiducient Advisors, and Newport Private Wealth, will return to Madison Dearborn, where they will be consolidated and rebranded under one name. The new brand will be led by current CEO of Wealthspire Advisors Michael LaMena and current head of M&A for NFP Carl Nelson as president.
Over the past 12 months, these businesses have produced $127 million in earnings before interest, tax, depreciation and amortization. Madison Dearborn, a Chicago-based private equity firm with interests in financial services, has raised over $31 billion since its formation and has completed more than 160 platform investments.
“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,” said Vahe Dombalagian, managing partner and co-head of Financial Services at MDP, who also led the transaction.
The transaction supports Aon’s latest emphasis towards its Risk Capital and Human Capital capabilities, said Greg Case, CEO of the insurance broker. “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,” added Case in a statement.
The acquisition is expected to close in Q4 2025, subject to the satisfaction of customary closing conditions, including receipt of regulatory approvals. Aon anticipates it will receive $2.2 billion in after-tax cash proceeds following the sale.
UBS Investment Bank and Moelis & Company LLC advised Aon on the transaction, while Goldman Sachs & Co LLC acted as the financial advisor to MDP.
Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with nearly a decade of experience and a passion for telling stories and reporting news. She is originally from Queens, New York, but now resides in Denver, Colorado.
