Key Bank - M&A Summary and Business Overview

Financial ServicesCompany

Key Bank M&A Summary

Key Bank has acquired 11 companies, including 4 in the last 5 years. A total of 4 acquisitions came from private equity firms. It has also divested 3 assets.

Key Bank’s largest acquisition to date was in 2015, when it acquired First Niagara Financial Group for $4.1B. It’s largest disclosed sale occurred in 2013, when it sold Victory Capital Holdings to Crestview Partners for $246M. Key Bank has acquired in 8 different US states. The Company’s most targeted sectors include financial services (67%) and consumer products (12%).

Key Bank Business Overview

Where is Key Bank headquartered?

Key Bank is headquartered in Cleveland, Ohio.

What is Key Bank’s revenue?

Key Bank disclosed revenue of 6,215M USD for 2023 and 7,026M USD for 2022.

How many employees does Key Bank have?

Key Bank has 16,752 employees.

What sector is Key Bank in?

Key Bank is a financial services company.

When was Key Bank founded?

Key Bank was founded in 1849.

M&A Summary

  • M&A Total Activity12
    • M&A Buy Activity9
    • M&A Sell Activity3
  • Total Sectors Invested 4
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 10
  • M&A Advisors 3

Key Bank

KeyCorp.

127 Public Square,
Cleveland, Ohio 44114
United States,
(216) 689-3000
www.key.com

Key Bank is a provider of investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. Key Bank was founded in 1849 and is based in Cleveland, Ohio.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.6/yr) # 6 - 2 1 - - 9
vol $4.2B $4.2B
Sell (0.0/yr) # 3 - - - - - 3
vol $246M $246M
  12

Most Recent M&A

Company Date Value Type
GradFin 2022-05-09 - Add-on Acquisition
Philadelphia, Pennsylvania · www.gradfin.com
XUP, Inc. 2021-11-22 - Add-on Acquisition
Charlotte, North Carolina · www.xuppay.com
AQN Strategies LLC 2021-03-02 - Add-on Acquisition
McLean, Virginia · www.aqnstrategies.com
Laurel Road Bank - Online Lending Business 2019-01-16 - Divestiture
, Connecticut
Key Insurance & Benefits Services, Inc. 2018-03-29 - Divestiture
Buffalo, New York
HelloWallet Holdings, Inc. 2017-05-31 - Divestiture
Washington, District of Columbia · www.hellowallet.com
Starad, Inc. 2016-12-13 6M USD Add-on Acquisition
New York, New York · www.christopherradko.com
First Niagara Financial Group, Inc. 2015-10-30 4.1B USD Add-on Acquisition
Buffalo, New York · www.fnfg.com
Pacific Crest Securities LLC 2014-07-17 - Add-on Acquisition
Portland, Oregon · www.pacific-crest.com
Victory Capital Holdings, Inc. 2013-02-21 246M USD Divestiture
San Antonio, Texas · www.vcm.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Starad, Inc. 2016-12-13 Jay Strongwater LLC 2017-08-23 1
New York, New York · www.christopherradko.com New York, New York · www.jaystrongwater.com
KeyBank Real Estate Capital    - Bank of America CMBS Servicing Portfolio 2013-05-09 2
Kansas City, Missouri · www.key.com/key2cre , United States

M&A by Sector

Sector Buy # Value Sell # Value
Financial Services 6 (67%) 4.2B (100%) 1 (33%) 246M (100%)
Information Technology 1 (11%) - 1 (33%) -
Consumer Products 1 (11%) 6M (< 1%) - -
Internet Software and Services 1 (11%) - - -
Insurance - - 1 (33%) -
Total 9 $4.2B 3 $246M

By Geo

State/Country Buy Value Sell Value
United States 9 4.2B 3 246M
  New York 2 4.1B 1 -
  District of Columbia 1 - - -
  Connecticut 1 - - -
  Virginia 1 - - -
  Pennsylvania 1 - - -
  Oregon 1 - - -
  North Carolina 1 - - -
  Texas - - 1 246M
  Ohio - - 1 -
Total 9 $4.2B 3 $246M

Top M&A Advisors

Financial Deals
Morgan Stanley
2
KeyBanc Capital Markets
2
Legal Deals
Simpson Thacher & Bartlett
1

Deal Values

buy # Total
> $1B 1 $4.1B
< $100M 2 $101M
TOTAL $4.2B
Largest First Niagara Financial Group, Inc.
$4.1B (2015-10-30)
sell # Total
$100M to $1B 1 $246M
TOTAL $246M
Largest Victory Capital Holdings, Inc.
$246M (2013-02-21)

M&A Connections

Deals
Acquired from
Investor(s)
22%
2 (22%)
Strategic(s)
33%
3 (33%)
Divested to
Investor(s)
33%
1 (33%)
Strategic(s)
67%
2 (67%)

 Subscribe to unlock this and 207,390
investor and company profiles

Sign-up today to get full access

  • check  Unlimited Searches
  • check  Unlimited Profile Views
  • check  Build and Export Lists of
    • PE Backed Companies
    • Direct Investors & Acquirers
    • Advisors
    • Deals
    • & More

What's Mergr?

We built Mergr to save people the arduous and time-consuming process of tracking when companies are bought, sold, and who currently owns them.

Every day, new opportunities emerge around M&A and we help professionals of all types comb through transactions, investors, and corporate acquirers via an easy-to-use web database that is accessible to anyone.

Try us for 1 week free today!

Mergr, the Easiest-to-Use PE and M&A DB


Key Benefits

  • Stay informed on events in your industry
  • M&A research that takes seconds (not all afternoon)
  • Better understand your customers and prospects
  • Discover active buyers (or sellers)
Search
  • 4.6K Private Equity Firms
  • 200K M&A Transactions
  • 203K Companies Involved in M&A
    (Buyer, Seller, or Target)
  • 3.6K M&A Advisors
    (Investment Banks and Law Firms)
  • 81K M&A Contacts
    (PE and M&A Advisors)

Ready to try?

Join FREE for 1 Week

No obligation. Cancel anytime.