M&A Deal Summary

PCG Capital Partners, Angelo Gordon s Private Equity Group, Metalmark Capital and Ocwen Financial Acquire Ocwen Structured Investments

On March 20, 2007, private equity firm PCG Capital Partners, private equity firm Angelo Gordon s Private Equity Group, private equity firm Metalmark Capital and Ocwen Financial acquired financial services company Ocwen Structured Investments for 300M USD

Acquisition Highlights
  • This is PCG Capital Partners’ 1st, Angelo Gordon s Private Equity Group’s 2nd, Metalmark Capital’s 3rd and Ocwen Financial’s 2nd transaction in the Financial Services sector.
  • This is PCG Capital Partners’ 2nd, Angelo Gordon s Private Equity Group’s , Metalmark Capital’s 3rd and Ocwen Financial’s largest (disclosed) transaction.
  • This is PCG Capital Partners’ 5th, Angelo Gordon s Private Equity Group’s 9th, Metalmark Capital’s 36th and Ocwen Financial’s 2nd transaction in the United States.
  • This is PCG Capital Partners’ 2nd, Angelo Gordon s Private Equity Group’s 2nd, Metalmark Capital’s 2nd and Ocwen Financial’s 1st transaction in Florida.

M&A Deal Summary

Date 2007-03-20
Target Ocwen Structured Investments
Sector Financial Services
Buyer(s) PCG Capital Partners
Angelo Gordon s Private Equity Group
Metalmark Capital
Ocwen Financial
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 300M USD

Target

Ocwen Structured Investments

West Palm Beach, Florida, United States
Ocwen Structured Investments ('OSI') was formed to leverage the superior servicing capabilities of Ocwen Financial Corporation ('Ocwen') [NYSE: OCN] and to create value by investing in newly issued residential mortgage-backed securities where Ocwen will provide the servicing for the underlying mortgages.

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Buyer(S) 4

Buyer

PCG Capital Partners

La Jolla, California, United States

website


Category Private Equity Firm
Founded 1993
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

PCG Capital Partners (PCG) is the direct private equity investment arm of the Pacific Corporate Group, an investment firm that also manages private equity fund investments. PCG provides non-control equity capital to help fund growth initiatives at both public and private companies. Sectors of interest span business services, consumer, energy, financial services, healthcare, industrial, and communications. PCG looks to commit between $15 and $75 million of capital per transaction. The Firm's geographic preference is for North American based opportunities. PCG was formed in 1993 and is based in La Jolla, California.


DEAL STATS #
Overall 5 of 9
Sector (Financial Services) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 2 of 3
State (Florida) 2 of 2
Country (United States) 5 of 8
Year (2007) 1 of 3
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-09 ORBCOMM

Rochelle Park, New Jersey, United States

ORBCOMM is a wireless data communications company, provides machine-to-machine communication solutions. ORBCOMM was founded in 2001 and is based in Rochelle Park, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-09 AECOM

Los Angeles, California, United States

AECOM is a global provider of professional technical and management support services for public and private clients around the world. AECOM provides planning, consulting, architectural and engineering design, and program and construction management services for a broad range of projects, including highways, airports, bridges, mass transit systems, government and commercial buildings, water and wastewater facilities and power transmission and distribution. AECOM also provides program and facilities management and maintenance, training, logistics, security and other support services, primarily for agencies of the US government. AECOM was formed in 1980 and is based in Los Angeles, California.

Sell -
Buyer

Angelo Gordon s Private Equity Group

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1988
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Angelo, Gordon's Private Equity Group is the private equity arm of asset manager Angele, Gordon & Co. AG's private equity group focuses on acquiring assets from financially distressed sellers or from larger corporations. Prospective transactions include forced sales, management-led buyouts, private company recapitalizations, corporate carve-outs, asset pool purchases, and other complex situations. The Group prefers control when considering opportunities and generally looks to commit $25 to $125 million of capital in transactions valued up to $500 million. Broad sectors of interest include specialty finance, retail, consumer, healthcare services/facilities, real estate, and business services. Angelo, Gordon's Private Equity group is based in New York City.


DEAL STATS #
Overall 11 of 22
Sector (Financial Services) 2 of 6
Type (Buyout (LBO, MBO, MBI)) 8 of 16
State (Florida) 2 of 3
Country (United States) 9 of 18
Year (2007) 1 of 4
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-10 White Hen Pantry

Lombard, Illinois, United States

White Hen Pantry, Inc. is a eading convenience store chain in mid-west with over 270 locations nation widePartnered with senior management and a distressed fund to acquire the business out of the Clark Retail bankruptcy

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-01 Gateway One Lending & Finance

Anaheim, California, United States

Gateway One Lending & Finance LLC is a Specialty finance business providing auto loans to consumers.partnered with experienced industry veterans and funded a management team to recreate previous success.

Buy -
Buyer

Metalmark Capital

New York, New York, United States

website


Category Private Equity Firm
Founded 2004
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Metalmark Capital is an independent private equity group focused on large company transactions in a wide range of industries. Metalmark is a hands-on investment firm looking to build long-term value in its portfolio companies. Broad areas of interest include natural resources/energy, healthcare services, industrials, food, transportation, and financial services. Metalmark was established in 2004 by the former principals of Morgan Stanley Capital Partners to manage the Metalmark Capital and Morgan Stanley Capital Partners funds. Metalmark is based in New York City.


DEAL STATS #
Overall 37 of 60
Sector (Financial Services) 3 of 3
Type (Buyout (LBO, MBO, MBI)) 17 of 24
State (Florida) 2 of 3
Country (United States) 36 of 56
Year (2007) 5 of 6
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-01 Tegrant

DeKalb, Illinois, United States

Tegrant Corporation manufactures customized packaging for consumer goods and industrial applications.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-22 HDT Global

Solon, Ohio, United States

HDT Global is a provider of highly engineered solutions for branches of the US military, international governments, and commercial customers. HDT holds a portfolio of products aimed at creating and controlling environmental conditions to protect and optimize the functioning of critical equipment and personnel. Its innovative products include rapidly deployable shelters, sophisticated environmental control, and power equipment, and nuclear, biological, and chemical protection systems. HDT Global was founded in 1937 and is based in Solon, Ohio.

Buy $335M
Buyer

Ocwen Financial

West Palm Beach, Florida, United States

website


Category Company
Founded 1988
Sector Financial Services
Employees5,000
Revenue 1.0B USD (2022)
DESCRIPTION

Ocwen Financial is a financial services company that specializes in mortgage servicing and origination. The Company has grown to become one of the largest mortgage servicers in the United States. Ocwen Financial is committed to providing superior service and support to its customers, helping homeowners to achieve their financial goals and navigate the complex world of mortgage finance. Ocwen Financial was founded in 1988 and is based in West Palm Beach, Florida.


DEAL STATS #
Overall 2 of 4
Sector (Financial Services) 2 of 4
Type (Buyout (LBO, MBO, MBI)) 1 of 1
State (Florida) 1 of 1
Country (United States) 2 of 4
Year (2007) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-05-01 American Business Financial Services

Philadelphia, Pennsylvania, United States

American Business Financial Services, Inc., together with its subsidiaries, originates, sells, and services home mortgage loans.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-03 Liberty Home Equity Solutions

Rancho Cordova, California, United States

Liberty Home Equity Solutions, Inc. is a provider of reverse mortgages through direct, wholesale and correspondent channels.

Buy -