An agreement has been reached for Aon plc to purchase NFP, a middle-market advisor for retirement plans, wealth manager, benefits consultant, and property and casualty broker.

A total of $7 billion in cash and $6.4 billion in Aon shares would be used in the deal, which was projected to be worth $13.4 billion at the time of close.

Funds connected to HPS Investment Partners and Madison Dearborn Partners, NFP’s principal capital backer, are the sources of the acquisition.

“We have continually evolved our leading capabilities to better serve our clients’ growing needs amidst increasing volatility across the marketplace,” said Greg Case, CEO of Aon.

“The acquisition will advance our relevance to clients, create opportunities for our colleagues and further strengthen our shared cultural values.”

According to the corporation, this calculated move would increase Aon’s market share in the growing middle-market sector by providing a wide range of services in the areas of risk, benefits, wealth management, and retirement plan consulting.

Reporting to Eric Andersen, President of Aon, Doug Hammond, the company’s current chairman and CEO, will continue to steer NFP as a separate but integrated platform within Aon.