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OneDigital Health and Benefits has signed a definitive agreement with New York-based investment firm New Mountain Capital, which will see it acquire the majority ownership position from Fidelity National Financial Ventures.
The company said it will now provide strategic guidance and industry expertise to help drive OneDigital's continued growth.
Adam Bruckman, president and CEO of OneDigital, said: "When seeking the right partner to support OneDigital’s future, we wanted a group that would be a great cultural fit and have proven experience in both healthcare and brokerage distribution."
Robert Mulcare of New Mountain Capital, added: "We believe OneDigital is a truly unique platform within the insurance distribution sector, and have been impressed with the company's exceptional culture and talent, best-in-class technology and systems, and proven leadership team.
"OneDigital has a successful track record of delivering healthcare solutions and thought leadership to its customers, which is crucial to its success. The company has consistently grown organically and through acquisitions, and New Mountain is excited to help management execute on a strategy that has made it one of the best performing brokers in the US."
OneDigital Health, New Mountain Capital, M&A, Fidelity National Financial Ventures, US