Benefits, insurance, and fund management services provider National Financial Partners Corporation announced today that Madison Dearborn Partners have acquired the company. National Financial Partners Corp's stockholders will get US$25.35 in cash per share of the company's common stock that they own. The sale will have an equity value of an estimated US$1.3 billion, including the company's convertible debt cost.

The stockholders of National Financial Partners Corp. voted for the approval of the transaction during a special meeting held a week ago. Due to its privatization, the company's common stock will be removed from the list of the New York Stock Exchange.

The buyer, Madison Dearborn Parters, is a leading private equity firm in the Chicago region. The firm has successfully raised six funds that has aggregate capital worth over US$18 billion. Madison Dearborn also has placed approximately 125 investments in different sectors of the economy.

Notable investments of the firm include TransUnion, EVO Payments, Capital Source, and PayPal.