M&A Deal Summary

Assicurazioni Generali Acquires Tranquilidade

On July 18, 2019, Assicurazioni Generali acquired insurance company Tranquilidade from Apollo Global Management for 510M EUR

Acquisition Highlights
  • This is Assicurazioni Generali’s 1st transaction in the Insurance sector.
  • This is Assicurazioni Generali’s largest (disclosed) transaction.
  • This is Assicurazioni Generali’s 2nd transaction in Portugal.

M&A Deal Summary
Date 2019-07-18
Target Tranquilidade
Sector Insurance
Buyer(s) Assicurazioni Generali
Sellers(s) Apollo Global Management
Deal Type Add-on Acquisition
Deal Value 510M EUR

Target

Tranquilidade

Lisbon, Portugal
website
Tranquilidade is the second-largest non-life business operator in Portugal with a 15.5% market share in the segment. The company also operates in the Life segment and posted total gross insurance premiums of approximately € 800 million in 2018.

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Buyer(S) 1

Buyer

Assicurazioni Generali

Trieste, Italy

website

Category Company
Founded 1831
Sector Insurance
Employees71,860
Revenue 72.6B EUR (2022)
DESCRIPTION

Assicurazioni Generali is an Italian insurance company that acts as the parent to the Generali Group. The Group comprises insurance, holding, financial and real estate. Assicurazioni Generali was founded in 1831 and is based in Trieste, Italy.

DEAL STATS #
Overall 2 of 6
Sector (Insurance) 1 of 5
Type (Add-on Acquisition) 2 of 3
Country (Portugal) 2 of 2
Year (2019) 2 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-18 AdvanceCare – Gestão de Serviços de Saúde S.A.

Lisbon, Portugal

AdvanceCare is a service platform operating primarily in the healthcare sector, a leader in the management of medical service outsourcing. It is Portugal’s second-largest private player, with a market share of around 30%. The company's capital-light fee business is scalable in other countries and fits well with the Generali 2021 strategy to increase service-based revenues.

Buy €90M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-24 Cattolica di Assicurazione

Verona, Italy

Cattolica di Assicurazione is an insurance company that provides life and non-life insurance products and services. The company offers individual insurance products and services for vehicles, health, assets and savings, travel and leisure, and house and family. Cattolica di Assicurazione was founded in 1896 and is based in Verona, Italy.

Buy -

Seller(S) 1

SELLER

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Asset Manager
Founded 1990
PE ASSETS 45.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.

DEAL STATS #
Overall 41 of 65
Sector (Insurance) 2 of 2
Type (Add-on Acquisition) 9 of 19
Country (Portugal) 2 of 2
Year (2019) 5 of 8
Size (of disclosed) 13 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-18 AdvanceCare – Gestão de Serviços de Saúde S.A.

Lisbon, Portugal

AdvanceCare is a service platform operating primarily in the healthcare sector, a leader in the management of medical service outsourcing. It is Portugal’s second-largest private player, with a market share of around 30%. The company's capital-light fee business is scalable in other countries and fits well with the Generali 2021 strategy to increase service-based revenues.

Sell €90M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-25 Pegasus Optimization Managers

College Station, Texas, United States

Pegasus Optimization Managers LLC is a natural gas contract compression and solutions provider. Its focus areas include the Marcellus/Utica, Eagle Ford, Permian, and Niobrara shale plays. Pegasus provides turnkey contract compression services, third-party equipment operations, construction project management, and other natural gas services. Pegasus Optimization Managers is based in College Station, Texas.

Sell -
Mergr

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