Altas is pleased to announce that Connor Bilby has joined the firm as a Principal within the Investor Relations team.

Prior to joining Altas, Connor worked at Davidson Kempner, where he most recently served as a Principal on the Marketing and Investor Relations team.

Connor holds a bachelor’s degree in Economics from Tufts University and is a CFA Charterholder.

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MEMPHIS, Tenn.--Redwood Services (“Redwood”), a leading national platform in the essential home services sector, today announced a significant equity investment from Altas Partners (“Altas”), a North American investment firm. The transaction, expected to close in the second quarter of 2025 pending regulatory approvals, marks the expansion of Redwood’s investor group alongside founding backer Union Main Group. Terms of the transaction were not disclosed.

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Today, Redwood supports over 2,500 employees and generates more than $500 million in annual revenue. Over the years, Redwood has built a proven partnership model and a robust national platform—with an emphasis on scaling with discipline, preserving culture, and driving and supporting consistent performance across its family of brands.

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“Altas is the ideal partner as we embark on our next phase of growth,” said Richard Lewis, Founder and CEO of Redwood Services. “We’ve built a nationwide, people-first platform that empowers elite contractors through local alignment and world-class support. Our Partner Support Center helps our Partners unlock their full potential, enabling them to deliver exceptional service and build lasting customer relationships. We’re proud of what we’ve built, and we’re just getting started.”

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The investment will enable Redwood to further strengthen its infrastructure, expand strategic partnerships, accelerate tuck-in acquisitions across the U.S., and continue to help its local brands operate at the highest level.

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“Altas shares our vision and deeply values what we’ve built,” said Adam Hanover, Co-Founder and CEO of Union Main Group and Chairman of Redwood’s Board. “Their experience scaling businesses from our size to several times larger—combined with their genuine respect for Redwood’s culture, partnership model, and Partner Support Center team—makes them an ideal partner for this next chapter. We’re excited to welcome them to the team.”

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Altas brings a distinct approach to partnerships given its focus on completing only one or two significant investments each year, allowing for deep engagement and meaningful collaboration. Altas has a strong track record of helping leading services businesses like Redwood grow significantly larger and more valuable—by enhancing capabilities while preserving each company’s unique culture. In recent years, this approach has led to the development of the leading commercial roofing service provider and the leading independent fire and life safety provider in the U.S.

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“We’ve spent several years studying the home services and residential HVAC space, and Redwood stands out as one of the premier platforms in the industry,” said Michael Korzinstone, Partner at Altas. “Redwood’s impressive team, disciplined approach to growth, strong local alignment, and mission-driven culture set it apart from others in the industry. Given our track record of helping scale leading services businesses in other sectors, we are confident we can provide the support and capabilities to help Redwood accelerate its growth while preserving what makes it exceptional.”

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Advisors

Piper Sandler & Co. served as Redwood’s financial advisor. Debevoise & Plimpton LLP and Burch, Porter & Johnson, PLLC served as legal counsel to Redwood. Baird and Deutsche Bank served as Altas’ financial advisors. Kirkland & Ellis LLP served as legal counsel to Altas.

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About Redwood Services

Founded in 2020 and headquartered in Memphis, Redwood Services is a nationwide people-focused platform dedicated to empowering elite contractors in the essential home services industry. Redwood provides world-class resources, coaching, and strategic partnerships to 19 leading companies across the United States, enabling its Partners to deliver exceptional HVAC, plumbing, and electrical services to residential customers. Redwood’s mission is to unleash the full potential of its Partners, supporting them in providing high-quality service and building lasting relationships with customers. For more information, visit www.redwoodservices.com.

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About Altas Partners

Altas Partners is a North American investment firm focused on selectively acquiring significant interests in high-quality businesses with meaningful growth potential. Altas focuses on sub-sectors where it has deep expertise, seeking one or two compelling investment opportunities each year. The Firm's patient investment philosophy and engaged approach to ownership distinguish Altas as a buyer of choice for many management teams and founders. The Firm was founded in 2012 and operates from offices in Toronto and New York. Altas manages more than $10 billion on behalf of leading institutional and family office investors from around the world. For more information, visit www.altas.com.

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About Union Main Group

Union Main Group is a long-term holding company that owns and operates a concentrated portfolio of essential business services companies. Founded and led by Marc and Adam Hanover, Union Main is backed by a close-knit group of entrepreneurial investors, including Bill Conway (Co-Founder, The Carlyle Group), Pitt Hyde (Founder, AutoZone), and Mitchell Blutt and Kevin Livingston (Founders, Consonance Capital). Union Main builds and scales businesses in partnership with exceptional operators, and has selectively partnered with large-cap investment firms—while continuing to hold significant stakes as its companies enter new chapters of growth. For more information, visit www.unionmain.us.

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Altas is delighted to announce that Isaac Fisher-Jhirad has re-joined the firm as a Director on the Investment Team.

Isaac returns following time on CD&R’s investment team in New York. He previously spent two years at Altas as an Associate and began his career in investment banking at Barclays in Toronto. Isaac holds a Bachelor of Business Administration from Wilfrid Laurier University (with High Distinction, Gold Medalist).

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ATLANTA, June 10, 2025 - Today, Pye-Barker Fire & Safety ("Pye-Barker" or the "Company"), the largest fully integrated and full-service fire protection, life safety, and security alarm services provider in the United States, announced that a wholly owned subsidiary of the Abu Dhabi Investment Authority ("ADIA") and GIC, a global institutional investor, have completed the acquisition of minority stakes in Pye-Barker, joining existing equity holders Altas Partners ("Altas") and Leonard Green & Partners, L.P. ("LGP"), as investors in the Company. As part of the transaction, LGP invested significant new capital into the Company while Altas retained the majority of its ownership interest. Financial terms were not disclosed.

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Headquartered in Atlanta, Georgia, Pye-Barker is the leading privately-owned commercial fire protection services provider in the U.S. The Company's service offerings include inspection, testing, maintenance, repair, and installation of fire detection systems, fire alarms, fire extinguishers, fire suppression and sprinkler systems, and security alarm monitoring services for businesses nationwide.

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"We are excited about entering our next phase of growth with our longstanding and exceptional partners in Altas and LGP, as well as with our new investors ADIA and GIC who share our common vision," said Bart Proctor, CEO of Pye-Barker. "Pye-Barker is fortunate to have experienced rapid growth due to the hard work, innovation, and entrepreneurial spirit of our people. On behalf of Pye-Barker's leadership team, we appreciate the strong existing partnership with Altas and LGP and look forward to the support of ADIA and GIC as we continue our focus on growth by delivering exceptional care for our team members and customers."

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"We extend our sincere gratitude to the entire Pye-Barker team for their outstanding work in building a world-class organization," said John Danhakl, Managing Partner at LGP. Evan Hershberg, Partner at LGP, added, "We look forward to the next stage of Pye-Barker's growth and continued success. Since we partnered with the Pye-Barker team over five years ago, the Company has been a consistently strong performer and has delivered exceptional growth and value to all stakeholders. We are excited about the many growth opportunities that lie ahead and look forward to continuing our support of the Company."

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"We are pleased to welcome ADIA and GIC as new financial partners in Pye-Barker. This transaction underscores the strength of the Company, its talented management team, and its significant growth opportunities," said Scott Werry, Managing Partner of Altas. "We are excited to continue our partnership with Pye-Barker and have strong confidence in the Company's future success under the leadership of Bart and his accomplished team."

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The transaction closed in January 2025. Harris Williams served as lead financial advisor to Pye-Barker. Bank of America, Deutsche Bank, Goldman Sachs & Co., Jefferies, and Piper Sandler also provided financial advice to parties in the transaction. Latham & Watkins LLP acted as legal advisor to LGP and Kirkland & Ellis LLP acted as legal advisor to Pye-Barker and Altas. Dechert LLP acted as legal advisor to GIC and Cleary Gottlieb Steen & Hamilton LLP acted as legal advisor to ADIA.

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ABOUT PYE-BARKER FIRE & SAFETY
Pye-Barker Fire & Safety is the largest fully integrated fire protection, life safety and security alarm services provider to commercial end markets in the United States. Headquartered in Atlanta, Georgia, and servicing facilities in industrial, hospitality, retail, healthcare and other commercial markets, Pye-Barker's comprehensive offerings focus on inspection, testing, maintenance, service and repair of life safety and fire protection products and systems to help save lives, protect businesses, and ensure state and local building code compliance. With over 250 locations and nearly 8,000 team members across 45 states, Pye-Barker ranks No. 849 on the Inc. 5000 and No. 8 on the SDM 100. For more information about Pye-Barker, visit www.PyeBarkerFS.com.

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ABOUT ALTAS
Altas Partners is a North American private equity firm focused on selectively acquiring significant interests in high-quality businesses with meaningful growth potential. Altas focuses on services sub-sectors where it has deep expertise, seeking one or two compelling investment opportunities each year. The firm's patient investment philosophy and engaged approach to ownership distinguish Altas as a buyer of choice for many management teams and founders. The firm was founded in 2012 and operates from offices in Toronto and New York. Altas manages more than $10 billion in AUM on behalf of leading institutional and family office investors from around the world. For more, visit www.altas.com.

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ABOUT LGP
LGP is a leading private equity investment firm founded in 1989 and based in Los Angeles with over $70 billion of assets under management. The firm partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, LGP has completed over 150 investments in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm primarily focuses on companies providing services, including consumer, healthcare, and business services, as well as distribution and industrials. For more information, please visit www.leonardgreen.com.

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ABOUT ADIA
Established in 1976, the Abu Dhabi Investment Authority is a globally-diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation. For more information, please visit www.adia.ae.

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ABOUT GIC
GIC is a leading global investment firm established in 1981 to secure Singapore's financial future. As the manager of Singapore's foreign reserves, GIC takes a long-term, disciplined approach to investing and is uniquely positioned across a wide range of asset classes and active strategies globally. These include equities, fixed income, real estate, private equity, venture capital, and infrastructure. Its long-term approach, multi-asset capabilities, and global connectivity enable it to be an investor of choice. GIC seeks to add meaningful value to its investments. Headquartered in Singapore, GIC has a global talent force of over 2,300 people in 11 key financial cities and has investments in over 40 countries. For more information, please visit www.gic.com.sg.

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We are delighted to announce the promotion of Jack Hansen and Akshay Kumar to Partner.

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Jack and Akshay have demonstrated outstanding expertise, leadership, and dedication. Their promotions are a testament to the significant impact they have made at Altas as well as our unwavering commitment to recognizing and nurturing talent.

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Please join us in congratulating Jack and Akshay on this well-earned milestone in their careers!

We were delighted to host our partners at the 2024 Altas Annual General Meeting in Toronto. The event featured our team, Advisory Board members, and senior leadership from our portfolio companies, who discussed developments at Altas and the progress of our businesses over the past year.

We were also fortunate to welcome Dominic Barton, former Global Managing Partner of McKinsey & Company and an Altas Advisory Board member, for a discussion with our CEO, Andrew Sheiner, on the current state of the world and lessons learned throughout his impressive career.

Thank you to our partners who joined us in chilly but beautiful Toronto, as well as those who participated virtually.

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On September18^th, Lisa Dymond, Partner and Head of Talent, represented Altas at the Women’s Private Capital Summit in Toronto, Ontario.

Lisa participated in the panel “Closing the Diversity Gap in Private Markets –Moving from Talk to Action” alongside Kerryann Benjamin (KKR), Michelle McBane (Stand Up Ventures), and Nicole Musicco (former CIO of CalPERS). Tanya Carmichael (Roxborough Advisory) moderated the compelling discussion on how to accelerate the closing of the Say-Do gap and the evolution beyond traditional measures to diversity of thought and experience.

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September 16, 2024 – Mercer Global Advisors, Inc. (“Mercer Advisors”), a national wealth management firm with $63 billion in client assets, announced today that it was ranked first in the 2024 Barron’s Top 100 RIA Ranking.  

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“The recognition from Barron’s is a reflection of our unwavering commitment to being unapologetically client focused and striving to deliver the highest standard of financial care that is available anywhere,” said Dave Welling, CEO, Mercer Advisors. For nearly 40 years, Mercer Advisors has been helping families connect the dots of their financial life by unifying planning, investment management, tax, estate insurance, trusts, and more.  

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“Mercer Advisors is a partnership of professionals who have chosen to come together to help build a pre-eminent fiduciary-first wealth management firm as a team. The colleagues who have chosen to be here through partnerships or as direct employees have done so because they believe Mercer Advisors is a firm that is committed to keeping promises to clients,” said Daniel Gourvitch, President, Mercer Advisors. “Our number one ranking is a testament to the excellent work of our collective team.”

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“This year’s ranking has particular meaning to us because it underscores being better not just bigger,” added Welling. “We have become one of the most respected and fastest growing independent RIAs in the country while staying true to our founding principles of ensuring that our actions positively impact our clients, employees, shareholders, and communities.”

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Barron’s RIA rankings are based on assets managed by the firms, technology spending, staff diversity, succession planning and other metrics. This is Mercer Advisors eighth year being ranked in the top 10 and its first year being ranked number one.

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About Mercer Advisors

Established in 1985, Mercer Global Advisors Inc. (“Mercer Advisors”) is a total wealth management and financial planning firm that provides comprehensive, fee-based investment management, financial planning, family office services, retirement benefits and distribution planning, estate and tax planning, insurance solutions, and corporate trustee and trust administration services. Mercer Advisors Inc. is a parent company of Mercer Global Advisors Inc. and is majority owned by Oak Hill Capital, Genstar Capital, and Altas Partners. Mercer Global Advisors, Inc. is headquartered in Denver, Colorado, is privately held, has 1,150+ employees, and operates nationally through more than 90 locations. Mercer Advisors has $63 billion in client assets. For more information, visit merceradvisors.com.

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Important Information

Company statistics as of July 31, 2024. Client assets refer to client assets under management (AUM) and client asset under advisement (AUA) as well as assets gained from recent acquisitions where the advisory agreements have been properly assigned to Mercer Global Advisors, but the custodial accounts have yet to be transferred and/or the accounts have yet to be migrated to Mercer Global Advisors’ portfolio management system.

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Mercer Advisors is not a law firm and does not provide legal advice to clients. All estate planning documentation preparation and other legal advice is provided through select third parties unaffiliated to Mercer Advisors. Tax preparation and tax filing are a separate fee from Mercer Advisors’ investment management and planning services. Trustee services are offered through select third parties with which a client would engage directly, as such additional fees may apply. Mercer Global Advisors has a related insurance agency. Mercer Advisors Insurance Services, LLC (MAIS) is a wholly owned subsidiary of Mercer Advisors Inc. Employees of Mercer Global Advisors serve as officers of MAIS. MAIS provides individual life, disability, long term care coverage, and property and casualty coverage through various insurance companies.  

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Mercer Advisors was ranked number 1 for firms with fewer than $70 billion in client assets. In 2024, Barron’s ranked the largest registered investment advisor firms ($70B+ in assets) separately from its broader RIA ranking. More information can be found here.

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Please Note: Limitations. Neither rankings and/or recognitions by unaffiliated rating services, publications, media, or other organizations, nor the achievement of any professional designation, certification, degree, or license, membership in any professional organization, or any amount of prior experience or success, should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if Mercer Advisors or its investment professionals are engaged, or continues to be engaged, to provide investment advisory services. A fee was not paid by either Mercer Advisors or its investment professionals to receive the award or ranking. The award or ranking is based upon specific criteria and methodology (see ranking criteria/methodology). No ranking or recognition should be construed as an endorsement by any past or current client of Mercer Advisors or its investment professionals.

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MEMPHIS, Tenn., Sept. 12, 2024 - Sedgwick, a leading global provider of claims management, loss adjusting and technology-enabled business solutions, announced a strategic investment from Altas Partners ("Altas"), a North American private equity firm. Current investors, including funds managed by global investment firm Carlyle (NASDAQ: CG) and by Stone Point Capital LLC, will remain as investors and continue to make significant new investments in the business, with Carlyle maintaining its control position in partnership with the investor group and the Sedgwick management team.

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This transaction implies a total enterprise value of approximately $13.2 billion, an increase from $6.7 billion when Carlyle made its initial investment in Sedgwick in 2018. Altas has committed to invest $1 billion of equity as part of the transaction and will be an active participant in the company's value creation journey going forward.

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"This new partnership with Altas, and our current stakeholders, brings together a strategic vision that builds our global footprint, expands comprehensive service capabilities and enhances our business for decades to come," said Mike Arbour, CEO of Sedgwick. "Altas has a history of actively supporting companies in its portfolio, and they are very knowledgeable in the challenges our clients face in today's competitive business environment. We look forward to leveraging their expertise as informed and engaged strategic allies as we continue to lead the industry in innovation and enable clients to thrive by helping them navigate the unexpected."

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"We are incredibly proud of the growth Sedgwick has achieved under our ownership," said Will McMullan, Partner and co-Head of Global Financial Services at Carlyle. "As we welcome Altas to the partnership, we are excited about the future and look forward to supporting Sedgwick's continued growth and innovation. Together, with our new and existing partners, we are committed to further enhancing Sedgwick's industry-leading capabilities and global footprint."

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"Sedgwick is an exceptional company, led by a terrific team, that we have coveted for many years" said Paul Emery, Partner at Altas. "Our strategy is incredibly selective; we only invest in businesses that possess the rare combination of quality, durability and meaningful line of sight for growth. These opportunities are hard to come by, and a business like Sedgwick fits squarely within our framework. We are excited to work in close partnership with Mike Arbour and team to support the many value creation opportunities that lie ahead."

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Jim Carey, Co-CEO of Stone Point said, "we have known the Sedgwick leadership team for many years and are thrilled to continue the partnership alongside Carlyle and Altas. Sedgwick is a leader in the risk, loss adjusting and claims management industries, and we look forward to supporting the company's mission in its next stage of growth."

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Every year, millions of people around the world contact Sedgwick when they face an unsettling, unfamiliar or stressful event — whether a catastrophe, an accident, an absence request or claim scenario. In 2023, Sedgwick handled more than eight million claims and had fiduciary responsibility for claim payments totaling more than $33 billion. The company will remain an independent, private company with an undiluted focus on claims handling excellence, use of robust data science and technological innovation.

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Morgan Stanley & Co. LLC and BofA Securities served as financial advisors and Latham & Watkins LLP served as legal advisor to Sedgwick. J.P. Morgan Securities LLC and Barclays served as financial advisors and Kirkland & Ellis served as legal advisor to Altas.

The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions.

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‍About Sedgwick
Sedgwick is a leading global provider of claims management, loss adjusting and technology-enabled business solutions. The company provides a broad range of resources tailored to clients' specific needs in casualty, property, marine, benefits, brand protection and other lines. At Sedgwick, caring counts; through the dedication and expertise of over 33,000 colleagues across 80 countries, the company takes care of people and organizations by mitigating and reducing risks and losses, promoting health and productivity, protecting brand reputations, and containing costs that can impact performance. Sedgwick's majority shareholder is The Carlyle Group; Stone Point Capital LLC, Caisse de dépôt et placement du Québec (CDPQ), Onex and other management investors are minority shareholders. For more, see sedgwick.com.

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About Altas Partners
Altas Partners is a North American private equity firm focused on selectively acquiring significant interests in high-quality businesses with meaningful growth potential. Altas focuses on services sub-sectors where it has deep expertise, seeking one or two compelling investment opportunities each year. The firm's patient investment philosophy and engaged approach to ownership distinguish Altas as a buyer of choice for many management teams and founders. The firm was founded in 2012 and operates from offices in Toronto and New York. Altas manages approximately $10 billion on behalf of leading institutional and family office investors from around the world. For more, visit altas.com.

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About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $435 billion of assets under management as of June 30, 2024, Carlyle's purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,200 people in 29 offices across four continents. Further information is available at carlyle.com.

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About Stone Point Capital
Stone Point is an alternative investment firm based in Greenwich, Connecticut, with more than $50 billion of assets under management. Stone Point targets investments in companies in the global financial services industry and related sectors. The firm invests in alternative asset classes, including private equity through its flagship Trident Funds and credit through commingled funds and separately managed accounts. In addition, Stone Point Capital Markets supports the firm, portfolio companies and other clients by providing dedicated financing solutions. For more information, please visit stonepoint.com.

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SOURCE Sedgwick Claims Management Services, Inc.

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