Report: Aon could sell Aon Hewitt employee benefits outsourcing unit
British insurance broker Aon Plc is reportedly looking to sell Hewitt Associates, its benefits outsourcing unit, for about $4.5 billion in an effort to focus more on its risk management business.
According to a report from Reuters, the deal would undo much of Aon's $4.9 billion purchase of Hewitt Associates in 2010. Aon is reportedly looking to sell the unit to private equity firm Clayton Dubilier & Rice.
Aon is working with investment bank Morgan Stanley on the sale, which has attracted interest from private equity firms, the report said, citing "people familiar with the matter."
Aon did not immediately return calls for further comment.
Headquartered in London, Aon is active in more than 120 countries.
Founded in 1940, Hewitt Associates, with offices in Lincolnshire, is a provider of human capital and management consulting services, outsourcing and insurance brokerage services.
A couple years ago, Aon Hewitt moved it workers from a large campus on Route 22 to its nearby headquarters at 4 Overlook Point in Lincolnshire.
Medline Industries, a Lake County-based medical supply company, purchased the former Aon Hewitt campus that's west of the Tri-State and north of Route 22. The 38-acre site has 269,000 square feet of office space in three buildings.