M&A Deal Summary

AmTrust Financial Acquires Republic Companies

On September 27, 2015, AmTrust Financial acquired insurance company Republic Companies from Delek Group for 233M USD

Acquisition Highlights
  • This is AmTrust Financial’s 20th transaction in the Insurance sector.
  • This is AmTrust Financial’s largest (disclosed) transaction.
  • This is AmTrust Financial’s 20th transaction in the United States.
  • This is AmTrust Financial’s 3rd transaction in Texas.

M&A Deal Summary

Date 2015-09-27
Target Republic Companies
Sector Insurance
Buyer(s) AmTrust Financial
Sellers(s) Delek Group
Deal Type Divestiture
Deal Value 233M USD

Target

Republic Companies

Dallas, Texas, United States
website
Republic Companies, Inc. is an insurance company providing personal and commercial property and casualty insurance products to individuals and small to medium business primarily in Texas.

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Buyer(S) 1

Buyer

AmTrust Financial

New York, New York, United States

website


Category Company
Founded 1998
Sector Insurance
Employees5,100
Revenue 4.7B USD (2015)
DESCRIPTION
AmTrust Financial office in downtown Cleveland, Ohio.
AmTrust Financial office in downtown Cleveland, Ohio.

AmTrust Financial is a provider of property and casualty insurance to small businesses. AmTrust insurance products include multiline small business, warranty and specialty risk, specialty program business insurance services. AmTrust Financial was formed in 1998 and is based in New York City.


DEAL STATS #
Overall 24 of 32
Sector (Insurance) 20 of 28
Type (Divestiture) 9 of 12
State (Texas) 3 of 3
Country (United States) 20 of 26
Year (2015) 9 of 10
Size (of disclosed) 1 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-25 Heritage Indemnity

Lakewood, Colorado, United States

Heritage Indemnity Co. is a provider of property and casualty insurance services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-27 Genworth Financial Mortgage Insurance

London, United Kingdom

Genworth Financial Mortgage Insurance Ltd. is a provider of mortgage insurance to mortgage lenders which protects against losses arising from credit defaults on residential and buy-to-let mortgage portfolios.

Buy $60M

Seller(S) 1

SELLER

Delek Group

Netanya, Israel

website


Category Company
Founded 1951
Sector Oil/Gas Exploration
Revenue 6.7B ILS (2020)
DESCRIPTION

Delek Group is a holding company through subsidiaries retails gasoline and lubricants, and operates gasoline filling stations, convenience stores and a crude oil pipeline and refinery in the United States, holds interests in the energy, infrastructure, automotive, media, finance and wealth management sectors, and owns real estate investments. Delek Group was founded in 1951 and is headquartered in Herzliya, Israel.


DEAL STATS #
Overall 3 of 5
Sector (Insurance) 1 of 2
Type (Divestiture) 3 of 4
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2015) 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-16 Roadchef

Cannock, United Kingdom

RoadChef is a roadside service area businesses operates motorway service areas in Britain. It operates catering and retail brand outlets, and restaurants, which provide meals, sandwiches, muffins, pastries, breakfasts, portions of fish and chips, and coffees. Roadchef was founded in 1973 and is based in Cannock, United Kingdom.

Sell £153M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-04 Ithaca Energy

Aberdeen, United Kingdom

Ithaca Energy (UK) Ltd. is a North Sea oil and gas operator focused on the delivery of lower risk growth through the appraisal and development of UK undeveloped discoveries and the exploitation of its existing UK producing asset portfolio. Ithaca’s strategy is centred on generating sustainable long term shareholder value by building a highly profitable 25kboe/d North Sea oil and gas company.

Buy $1.2B