Aon plc to sell significant majority of NFP’s wealth business to MDP for $2.7B

Aon plc (AON) announced that it has signed a definitive agreement to sell a significant majority of NFP’s wealth business – Wealthspire Advisors, Fiducient Advisors, Newport Private Wealth and related platforms – to Madison Dearborn Partners, a private equity investment firm based in Chicago. Under the terms of the transaction, MDP will acquire the businesses for a total consideration estimated to be $2.7 billion at the time of close, resulting in total after-tax cash proceeds of approximately $2.2 billion. The businesses represent approximately $127 million in EBITDA for the trailing twelve-month period ending June 30, 2025. The transaction is expected to close in late Q4 2025, subject to the satisfaction of customary closing conditions, including receipt of regulatory approvals. Given the expected timing of the close, the financial impact to Aon’s full-year 2025 results is not expected to be material. Following the close of the transaction, the MDP-acquired businesses will be consolidated and operate under a unified brand name. The company will be led by Michael LaMena as CEO and Carl Nelson as President.