WOODWARD PARK PARTNERS ADVISES SALUS GROUP IN ITS SALE TO NFP, A WHOLLY OWNED SUBSIDIARY OF AON

Rhea-AI Summary

Aon (NYSE: AON) has acquired Salus Group through its subsidiary NFP. Salus Group, founded in 2005, is a leading independent benefits consulting, brokerage and administration firm specializing in credit unions and middle-market employers, including those with unionized workforces. The company operates nationwide from its Michigan base.

NFP, as part of Aon, provides consultative services addressing risk, workforce, wealth management and retirement challenges, employing over 7,700 colleagues across the US, Puerto Rico, Canada, UK and Ireland. Woodward Park Partners served as the exclusive financial advisor to Salus Group in this transaction.

Positive

• Strategic acquisition expanding Aon's benefits consulting and brokerage capabilities
• Strengthens presence in credit union and middle-market employer segments
• Adds nationwide client portfolio to existing operations

Negative

• None.

Insights

M&A Analyst

This acquisition of Salus Group by NFP, an Aon subsidiary, represents a strategic expansion in the benefits consulting and brokerage space. The target company's specialization in credit unions and middle-market employers, particularly those with unionized workforces, fills a valuable niche in Aon's portfolio. The deal strengthens Aon's presence in the Michigan market while adding nationwide capabilities in benefits administration.

The acquisition aligns with Aon's strategy to enhance its Risk Capital and Human Capital solutions. Salus Group's expertise in benefits consultancy complements NFP's existing services across property and casualty insurance, wealth management and retirement plan advisory. This vertical integration should create operational synergies and expand cross-selling opportunities across Aon's 7,700+ colleague network in the US, Puerto Rico, Canada, UK and Ireland.

While the financial terms weren't disclosed, this type of strategic bolt-on acquisition typically carries minimal dilution risk and should be accretive to earnings within 12-18 months through cost synergies and revenue enhancement opportunities. The deal represents a continuation of Aon's disciplined M&A strategy focusing on specialized capabilities that enhance its core service offerings.

BLOOMFIELD HILLS, Mich., Dec. 19, 2024 /PRNewswire/ -- Woodward Park Partners is pleased to announce that its client, Benefits Partner, LLC dba Salus Group ("Salus Group"), has been acquired by NFP, a wholly owned subsidiary of Aon (NYSE: AON). Salus Group is a leading independent benefits consulting, brokerage and administration firm.

Woodward Park Partners acted as the exclusive financial advisor to Salus Group in this transaction. Michael Brillati, CEO and majority shareholder of Salus Group stated, "The Woodward Park team was instrumental in guiding us through the entire sale process, structuring an approach that resulted in a successful closing and seamless transition to the next chapter of growth for our organization."

Salus Group was founded in 2005 to provide benefits consultancy for credit unions and has since expanded its client portfolio with a particular focus on middle-market employers, including those with unionized workforces. With a base in Michigan, Salus Group works with clients nationwide.

NFP, an Aon company, is an organization of consultative advisors and problem solvers helping companies and individuals address their most significant risk, workforce, wealth management and retirement challenges. NFP's global capabilities, specialized expertise and customized solutions span property and casualty insurance, benefits, wealth management and retirement plan advisory, with more than 7,700 colleagues in the US, Puerto Rico, Canada, UK and Ireland serving a diversity of clients, industries and communities.

Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, Aon provides clients in over 120 countries with the clarity and confidence to make better risk and people decisions that protect and grow their businesses.

For more information, visit woodwardparkpartners.com.

About Woodward Park Partners
Woodward Park Partners is a middle-market focused investment banking firm. The firm specializes in providing high-touch advisory services with unparalleled senior professional involvement to financial sponsors, private business owners and publicly traded companies. The firm's expertise covers a wide spectrum of transaction types, including private company sales, divestitures, mergers & acquisitions and other financial advisory engagements. For more information, visit woodwardparkpartners.com.

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SOURCE Woodward Park Partners

FAQ

What company did Aon acquire through NFP in December 2023?

Aon acquired Salus Group, a leading independent benefits consulting, brokerage and administration firm, through its subsidiary NFP.

What is Salus Group's primary business focus and market coverage?

Salus Group specializes in benefits consultancy for credit unions and middle-market employers, including those with unionized workforces, operating nationwide from its Michigan base.

How many employees does NFP, Aon's subsidiary, have across its operations?

NFP employs more than 7,700 colleagues across the US, Puerto Rico, Canada, UK and Ireland.

When was Salus Group founded and what was its original purpose?

Salus Group was founded in 2005 to provide benefits consultancy services specifically for credit unions.

What services does NFP provide as part of Aon?

NFP provides consultative services addressing risk, workforce, wealth management and retirement challenges for companies and individuals.