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Sedgwick acquires retention solution provider Stericycle

Wednesday, December 02, 2020 — 13:34:57 (EST)

MEMPHIS, Tenn., Dec. 2, 2020 /PRNewswire/ -- Sedgwick, a leading global provider of technology-enabled risk, benefits and integrated business solutions, today announced its acquisition of Stericycle's Expert Solutions service line, the market leader in helping companies protect their consumers and brand reputations by managing a wide range of in-market business and product risks.

This strategic transaction brings to Sedgwick market-leading expertise and specialization in the complexities associated with end-to-end product recall, remediation and retention, thus expanding the company's offerings in this arena. While Sedgwick has a long tradition of helping clients with product liability claims, bringing this business in-house enables the company to provide a comprehensive solution for managing global risk, recall and remediation—including the retrieval of in-market product, processing and tracking returns, working with governing regulatory agencies and more.

"The addition of Stericycle's Expert Solutions service line, along with their talented team, brings tremendous value to Sedgwick," said Mike Arbour, CEO of Sedgwick. "We look forward to offering best-in-class recall, remediation and retention solutions on a global scale under the Sedgwick banner to clients in the automotive, food and beverage, medical devices, retail, pharmaceuticals and consumer products industries and beyond. This acquisition enhances our suite of integrated offerings in the benefits, claims and resolution space, and we are excited to combine our resources and expertise for the benefit of our clients."

As part of the transaction, Sedgwick gains more than 300 new colleagues from Stericycle's Expert Solutions service line in the U.S., Canada and Europe. Bringing recall, remediation and retention solutions under the banner of Sedgwick's specialty operations presents opportunities for the company to better serve clients by offering a more robust range of services that address and resolve in-market challenges.

"With a 25-year track record of managing some of the most sensitive and time-critical business and product crises, we know what it takes to resolve in-market challenges and uphold client commitments to customers, supply chain partners, industry groups and regulators," said Ken Edwards, senior vice president and general manager at Expert Solutions.

About Sedgwick

Sedgwick is a leading global provider of technology-enabled risk, benefits and integrated business solutions. The company provides a broad range of resources tailored to our clients' specific needs in casualty, property, marine, benefits and other lines. At Sedgwick, caring counts®; through the dedication and expertise of more than 27,000 colleagues across 65 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 the bottom line. 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.

About Expert Solutions

Expert Solutions protects businesses, their customers and our environment through best practice recall and remediation solutions. Trusted by leading brands, the company works in partnership to manage the risks and minimize the impacts of business and product crises. Since 1995, Expert Solutions has managed over 5,000 recall and remediation programs, spanning 60+ countries and 20+ languages. With operations in the U.S. and Europe, the company works with clients across industries to uphold their commitments to customers, supply chain partners, and regulators. For more see stericycleexpertsolutions.com.

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Source: Company press release.