Sun Life - M&A Summary and Business Overview

InsuranceCompany

Sun Life M&A Summary

Sun Life has acquired 9 companies, including 3 in the last 5 years. A total of 1 acquisition came from private equity firms. It has also divested 4 assets.

Sun Life’s largest acquisition to date was in 2021, when it acquired DentaQuest for $2.5B. It’s largest disclosed sale occurred in 2022, when it sold SLF of Canada UK Limited to Phoenix Group Holdings for $382M. Sun Life has acquired in 6 different US states, and 2 countries. The Company’s most targeted sectors include insurance (34%) and healthcare services (23%).

Sun Life Business Overview

Where is Sun Life headquartered?

Sun Life is headquartered in Toronto, Ontario.

What is Sun Life’s revenue?

Sun Life disclosed revenue of 32,656M CAD for 2023 and 35,690M CAD for 2021.

How many employees does Sun Life have?

Sun Life has 30,941 employees.

What sector is Sun Life in?

Sun Life is an insurance company.

When was Sun Life founded?

Sun Life was founded in 1871.

M&A Summary

  • M&A Total Activity13
    • M&A Buy Activity9
    • M&A Sell Activity4
  • Total Sectors Invested 6
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 6
  • M&A Advisors 10

Sun Life

Sun Life Financial, Inc.

1 York Street 31st Floor,
Toronto, Ontario M5J 0B6
Canada,
(416) 979-9966
www.sunlife.com

Sun Life is a international provider of protection and wealth products and services to individual and corporate customers. With offices in key markets worldwide serving millions of customers, Company help people achieve financial peace of mind by providing sound financial solutions throughout their lifetimes. Sun Life was incorporated in 1871 and is based in Toronto, Canada.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.6/yr) # 6 - 2 - 1 - 9
vol $940M $2.6B $3.5B
Sell (0.4/yr) # 2 - 1 1 - - 4
vol $2M $382M $383M
  13

Most Recent M&A

Company Date Value Type
Dialogue Health Technologies, Inc. 2023-07-26 - Add-on Acquisition
Montreal, Quebec · www.dialogue.co
SLF of Canada UK Limited 2022-08-04 382M GBP Divestiture
Basingstoke, United Kingdom
Sun Life’s Sponsored Markets Business 2021-12-13 - Divestiture
Toronto, Ontario
DentaQuest LLC 2021-10-03 2.5B USD Add-on Acquisition
Boston, Massachusetts · www.dentaquest.com
PinnacleCare LLC 2021-04-23 85M USD Add-on Acquisition
Baltimore, Maryland · www.pinnaclecare.com
Maxwell Health 2018-06-04 - Add-on Acquisition
New York, New York · www.maxwellhealth.com
The Premier Dental Group, Inc. 2017-04-20 - Add-on Acquisition
Plymouth, Minnesota · www.premier-dental.com
Assurant - Employee Benefits Business 2016-03-01 940M USD Divestiture
, United States
Prime Advisors, Inc. 2015-06-30 - Add-on Acquisition
Redmond, Washington · www.primeadvisors.com
Bentall GreenOak 2015-01-01 - Buyout (LBO, MBO, MBI)
Toronto, Ontario · www.bentallkennedy.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Bentall GreenOak 2015-01-01 Metropolitan Real Estate Equity Management LLC 2021-04-01 3
Toronto, Ontario · www.bentallkennedy.com New York, New York · www.mreem.com

M&A by Sector

Sector Buy # Value Sell # Value
Insurance 3 (33%) 3.4B (98%) 4 (100%) 383M (100%)
Healthcare Services 2 (22%) 85M (2%) - -
Business Services 1 (11%) - - -
Information Technology 1 (11%) - - -
Internet Software and Services 1 (11%) - - -
Real Estate 1 (11%) - - -
Total 9 $3.5B 4 $383M

By Geo

State/Country Buy Value Sell Value
United States 6 3.5B 1 -
  New York 1 - 1 -
  Washington 1 - - -
  Minnesota 1 - - -
  Massachusetts 1 2.5B - -
  Maryland 1 85M - -
Canada 3 - 2 2M
  Ontario 2 - 2 2M
  Quebec 1 - - -
United Kingdom - - 1 382M
Domestic 3 (33%) - 2 (50%) 2M (< 1%)
Cross-border 6 (67%) 3.5B (100%) 2 (50%) 382M (100%)
Total 9 $3.5B 4 $383M

Top M&A Advisors

Financial Deals
Fenchurch Advisory Partners Ltd.
 1
Barclays Investment Bank
 1
Morgan Stanley
 1
Legal Deals
Debevoise & Plimpton
 2
Skadden, Arps, Slate, Meagher & Flom
 1
Torys LLP
 1

Deal Values

buy # Total
> $1B 1 $2.5B
$100M to $1B 1 $940M
< $100M 1 $85M
TOTAL $3.5B
Largest DentaQuest LLC
$2.5B (2021-10-03)
sell # Total
$100M to $1B 1 $382M
< $100M 1 $2M
TOTAL $383M
Largest SLF of Canada UK Limited
$382M (2022-08-04)

M&A Connections

Deals
Acquired from
Investor(s)
11%
1 (11%)
Strategic(s)
11%
1 (11%)
Divested to
Strategic(s)
100%
4 (100%)

Company Summary

SECTOR

Insurance

Revenue

32,656   2023
35,690   18% 2021
43,337   10% 2020
39,679   47% 2019
26,997   8% 2018
29,334   3% 2017
28,573   49% 2016
19,274   26% 2015
25,764   2014
(millions of CAD) Show More Show Less

Employees

30,941

Established

1871

Public

NYSE: SLF

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