Fairfax - M&A Summary and Business Overview

InsuranceCompany

Fairfax M&A Summary

Fairfax has acquired 13 companies, including 2 in the last 5 years. A total of 2 acquisitions came from private equity firms. It has also divested 5 assets.

Fairfax’s largest acquisition to date was in 2022, when it acquired Atlas for $10.9B. It’s largest disclosed sale occurred in 2020, when it sold RiverStone Europe to CVC Capital Partners for $750M. Fairfax has acquired in 4 different US states, and 7 countries. The Company’s most targeted sectors include insurance (59%) and diversified (9%).

Fairfax Business Overview

Where is Fairfax headquartered?

Fairfax is headquartered in Toronto, Ontario.

What is Fairfax’s revenue?

Fairfax disclosed revenue of 25,803M USD for 2023 and 19,583M USD for 2022.

How many employees does Fairfax have?

Fairfax has 15,891 employees.

What sector is Fairfax in?

Fairfax is an insurance company.

When was Fairfax founded?

Fairfax was founded in 1951.

M&A Summary

  • M&A Total Activity17
    • M&A Buy Activity12
    • M&A Sell Activity5
  • Total Sectors Invested 6
  • Total Countries Invested 7
  • M&A Buy/Sell Connections 8
  • M&A Advisors 6

Fairfax

Fairfax Financial Holdings Ltd.

95 Wellington Street West, Suite 800,
Toronto, Ontario M5J 2N7
Canada,
(416) 367-4941
www.fairfax.ca

Fairfax is a financial services holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management. Fairfax’s corporate objective is to achieve a high rate of return on invested capital and build long-term shareholder value. Fairfax was founded in 1951 and is based in Toronto, Ontario.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.2/yr) # 11 - - 1 - - 12
vol $6.9B $10.9B $17.8B
Sell (0.6/yr) # 2 1 - 2 - - 5
vol $750M $750M
  17

Most Recent M&A

Company Date Value Type
Atlas Corp. 2022-11-01 10.9B USD Add-on Acquisition
Vancouver, British Columbia · www.atlascorporation.com
United States Fire Insurance Co. 2022-06-20 - Divestiture
Morristown, New Jersey · www.cfins.com
Pethealth, Inc. 2022-06-20 - Divestiture
Oakville, Ontario · www.pethealthinc.com
RiverStone Europe 2020-12-02 750M USD Divestiture
Brighton, United Kingdom · www.rsml.co.uk
Quess Corp Ltd. 2019-08-01 - Stake Purchase
Bengaluru, India · www.quesscorp.com
Stelco Holdings, Inc. 2018-11-19 - Stake Purchase
Hamilton, Ontario · www.stelco.com
Performance Sports Group Ltd. 2017-02-28 - Add-on Acquisition
Exeter, New Hampshire · www.performancesportsgroup.com
Allied World Assurance Company Holdings, AG 2016-12-18 4.9B USD Add-on Acquisition
Zug, Switzerland · www.awac.com
PT Asuransi Multi Artha Guna Tbk 2016-06-27 - Stake Purchase
Jakarta, Indonesia · www.mag.co.id
Rouge Media Group 2016-06-17 - Add-on Acquisition
New York, New York · www.rougemediagroup.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Brit Insurance Ltd. 2015-02-18 Ambridge Partners LLC 2023-01-09 3
London, United Kingdom · www.britinsurance.com New York, New York · www.ambridge-group.com
Brit Insurance Ltd. 2015-02-18 Scion Underwriting Services 2021-07-01 2
London, United Kingdom · www.britinsurance.com Dallas, Texas · www.scionunderwriting.com
Brit Insurance Ltd. 2015-02-18 Commonwealth Insurance Company of America (CICA) 2021-03-08 1
London, United Kingdom · www.britinsurance.com Wilmington, Delaware
Allied World Assurance Company Holdings, AG 2016-12-18 Vault Holdings LLC 2020-11-12 1
Zug, Switzerland · www.awac.com St. Petersburg, Florida · www.vaultinsurance.com

M&A by Sector

Sector Buy # Value Sell # Value
Insurance 7 (58%) 6.9B (39%) 4 (80%) 750M (100%)
Business Services 1 (8%) 10.9B (61%) - -
Consumer Products 1 (8%) - - -
Diversified 1 (8%) - - -
Media 1 (8%) - - -
Metals/Mining 1 (8%) - - -
Food - - 1 (20%) -
Total 12 $17.8B 5 $750M

By Geo

State/Country Buy Value Sell Value
United States 4 - 3 -
  California 1 - 1 -
  Rhode Island 1 - - -
  New York 1 - - -
  New Hampshire 1 - - -
  New Jersey - - 1 -
  Minnesota - - 1 -
Canada 3 11.0B 1 -
  Ontario 2 100M 1 -
  British Columbia 1 10.9B - -
United Kingdom 1 1.9B 1 750M
India 1 - - -
Indonesia 1 - - -
Jordan 1 - - -
Switzerland 1 4.9B - -
Domestic 3 (25%) 11.0B (62%) 1 (20%) -
Cross-border 9 (75%) 6.8B (38%) 4 (80%) 750M (100%)
Total 12 $17.8B 5 $750M

Top M&A Advisors

Financial Deals
Scotia Capital, Inc. (Scotiabank - Global Banking and Markets)
1
Rothschild Global Advisory
1
BDT & MSD Partners
1
Legal Deals
Torys
2
Shearman & Sterling
1
Squire Patton Boggs
1

Deal Values

buy # Total
> $1B 3 $17.7B
< $100M 1 $100M
TOTAL $17.8B
Largest Atlas Corp.
$10.9B (2022-11-01)
sell # Total
$100M to $1B 1 $750M
TOTAL $750M
Largest RiverStone Europe
$750M (2020-12-02)

M&A Connections

Deals
Acquired from
Investor(s)
8%
1 (8%)
Strategic(s)
17%
2 (17%)
Divested to
Investor(s)
60%
3 (60%)
Strategic(s)
40%
2 (40%)

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