Hub International files for a potential IPO, aiming to raise funds for corporate use and debt repayment amid private equity ownership.
Insurance brokerage Hub International has confidentially filed for a proposed initial public offering in the US, submitting a draft registration to the SEC. The company did not disclose the timing, share count, or price range for the offering. Proceeds will be used for general corporate purposes, including potential debt repayment.
Hub, owned by private equity firm Hellman & Friedman since a $4.4bn acquisition in 2013, provides property, casualty, reinsurance, and employee benefits services. The company employs 21,000 people across 570 North American offices. Hub previously traded on the Toronto and New York stock exchanges before going private in 2007.
The filing follows recent leadership changes, including the appointment of Paul Collins as Northeast Area president. The IPO remains subject to SEC review and market conditions.