M&A Deal Summary

Brightstar Capital Partners and Genstar Capital Acquire Likewize

On September 17, 2020, private equity firms Brightstar Capital Partners and Genstar Capital acquired insurance company Likewize from SoftBank

Acquisition Highlights
  • This is Brightstar Capital Partners’ 1st and Genstar Capital’s 14th transaction in the Insurance sector.
  • This is Brightstar Capital Partners’ 6th and Genstar Capital’s 85th transaction in the United States.
  • This is Brightstar Capital Partners’ 3rd and Genstar Capital’s 8th transaction in Texas.

M&A Deal Summary

Date 2020-09-17
Target Likewize
Sector Insurance
Buyer(s) Brightstar Capital Partners
Genstar Capital
Sellers(s) SoftBank
Deal Type Divestiture

Target

Likewize

Southlake, Texas, United States
website
Likewize offers comprehensive protection against any technology disruption. Whether a device is lost, stolen, damaged, malfunctioning, in need of an upgrade or the user does not know how to do something, the company provides the solution. It operates in over 30 countries, resolving 250 million problems each year across insurance, warranty, repairs, trade-ins, recycling, and premium tech support. Likewize is based in Southlake, Texas.

Search 192,723 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 2

DESCRIPTION

Brightstar Capital Partners is a middle-market private equity firm focused on partnering with closely held and family-owned companies. Sectors of interest include business services, consumer products/services, and industrials. Brightstar Capital Partners was established in 2015 and is based in New York City.


DEAL STATS #
Overall 6 of 13
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 3 of 3
Country (United States) 6 of 12
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-03 Capstone Nutrition

Ogden, Utah, United States

Capstone Nutrition is a provider of turnkey services from concept to blending, manufacturing, and packaging of solid dose products (e.g. tablets and capsules) and powders. Capstone Nutrition was founded in 1989 and is based in Ogden, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-28 Amerit Fleet Solutions

Walnut Creek, California, United States

Amerit Fleet Solutions, Inc. provides repair and maintenance services for vehicle fleet owners and operators across North America, operating via a collection of mobile repair units, branch locations, and on-site customer locations. Amerit Fleet Solutions was founded in 2010 and is based in Walnut Creek, California.

Buy -
Buyer

Genstar Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1988
PE ASSETS 49.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Genstar Capital is a private equity firm that seeks investments in life science, healthcare, medical products, industrial technology, software, financial services, packaging, building materials, manufacturing, and business services companies. Genstar looks to invest between $50 and $400 million of equity capital in businesses valued up to $1 billion. Target transaction situations include control-oriented leveraged buyouts of corporate divisions, privately held businesses or public companies, minority investments in privately held businesses or public companies, ownership restructurings/recapitalizations of privately held businesses, growth equity financings, partnerships with other strategic or financial buyers, and take privates. Genstar Capital was formed in 1988 and is based in San Francisco, California.


DEAL STATS #
Overall 92 of 107
Sector (Insurance) 14 of 14
Type (Divestiture) 9 of 9
State (Texas) 8 of 8
Country (United States) 85 of 99
Year (2020) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-06 Sonny s

Tamarac, Florida, United States

Sonny's is a global manufacturer of conveyorized car wash systems. The Company serves both small independents and large national car wash chains throughout the U.S. and Internationally. Sonny’s is the only one-stop provider of solutions spanning the entire car wash lifecycle, providing education on car wash operations, site and car wash business consulting services, a comprehensive offering of tunnel equipment, vacuums, lighting and signage, controls, chemistry, local service and support and aftermarket parts. Sonny's was founded in 1949 and is based in Tamarac, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-17 ISS

Rockville, Maryland, United States

Institutional Shareholder Services, Inc. is a provider of corporate governance and responsible investment (RI) solutions for asset owners, asset managers, hedge funds, and asset service providers. ISS’ solutions include objective governance research and recommendations; RI data, analytics, advisory, and research; end-to-end proxy voting and distribution solutions; turnkey securities class-action claims management (provided by Securities Class Action Services, LLC); and reliable global governance data and modeling tools. Clients rely on ISS’ expertise to help them make informed corporate governance and responsible investment decisions. Institutional Shareholder Services was formed in 1985 and is based in Rockville, Maryland.

Sell $2.3B

Seller(S) 1

SELLER

SoftBank

Tokyo, Japan

website


Category Company
Founded 1981
Sector Diversified
Employees80,909
Revenue 6,570.4B JPY (2023)
DESCRIPTION

SoftBank is a diversified telecommunications and internet corporation, with operations in broadband, fixed-line telecommunications, e-commerce, Internet, broadmedia, technology services, finance, media and marketing, and other businesses. SoftBank was founded in 1981 and is based in Tokyo, Japan.


DEAL STATS #
Overall 10 of 15
Sector (Insurance) 1 of 1
Type (Divestiture) 5 of 7
State (Texas) 1 of 1
Country (United States) 7 of 10
Year (2020) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-25 OSIsoft

San Leandro, California, United States

OSIsoft, Inc. is a provider of real-time industrial data software and services. OSIsoft was founded in 1980 and is based in San Leandro, California.

Sell $5.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-11 Boston Dynamics

Waltham, Massachusetts, United States

Boston Dynamics designs and builds dynamic robots and software for human simulation. The Company began as a spin-off from the Massachusetts Institute of Technology in 1992. Boston Dynamics is based in Waltham, Massachusetts.

Sell $1.1B