M&A Deal Summary

Crestview Partners Acquires Victory Capital

On February 21, 2013, private equity firm Crestview Partners acquired financial services company Victory Capital from Key Bank for 246M USD

Acquisition Highlights
  • This is Crestview Partners’ 5th transaction in the Financial Services sector.
  • This is Crestview Partners’ 9th largest (disclosed) transaction.
  • This is Crestview Partners’ 13th transaction in the United States.
  • This is Crestview Partners’ 3rd transaction in Texas.
Investment Fate
  • Victory Capital went public in 2018.

M&A Deal Summary
Date 2013-02-21
Target Victory Capital
Sector Financial Services
Buyer(s) Crestview Partners
Sellers(s) Key Bank
Deal Type Divestiture
Deal Value 246M USD

Target

Victory Capital

San Antonio, Texas, United States
website
Victory Capital is an investment management firm operating a next-generation, integrated multi-boutique business model with $132.5 billion in assets under management as of July 31, 2020. Victory Capital serves both institutional and retail investors. Victory Capital was founded in 2013 and is based in San Antonio, Texas.

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Buyer(S) 1

Buyer

Crestview Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2004
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Crestview Partners is a private equity firm focused on challenging investment situations. Crestview targets opportunities across a broad range of industries, with a special interest in asset management, media, healthcare and financial service companies. The Firm looks to commit $100 to $250 million of equity capital in transactions valued between $500 million and $3 billion. Crestview Partners was formed in 2004 and is based in New York, New York.

DEAL STATS #
Overall 17 of 55
Sector (Financial Services) 5 of 9
Type (Divestiture) 2 of 4
State (Texas) 3 of 6
Country (United States) 13 of 44
Year (2013) 1 of 3
Size (of disclosed) 9 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-27 NEP Group

Pittsburgh, Pennsylvania, United States

NEP Group, Inc. is a provider of outsourced broadcasting services vital to the delivery of live sports and entertainment events. NEP serves premiere broadcast networks and production companies with state-of-the-art facilities, engineering expertise and technical management to support telecasts of major events and programs.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-03 DS Waters of America

Atlanta, Georgia, United States

DS Waters of America, Inc. is a diversified beverage company providing bottled drinking water, water filtration and coffee services and products to homes and offices across the U.S.

Buy -

Seller(S) 1

SELLER

Key Bank

Cleveland, Ohio, United States

website

Category Company
Founded 1849
Sector Financial Services
Employees17,654
Revenue 7.0B USD (2022)
DESCRIPTION

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.

DEAL STATS #
Overall 2 of 3
Sector (Financial Services) 1 of 1
Type (Divestiture) 2 of 3
State (Texas) 1 of 1
Country (United States) 2 of 3
Year (2013) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-13 HSBC - 37 Retail Banking Branches

United States

HSBC - 37 Retail Banking Branches, 26 branches are in its Western New York District and 11 are in its Rochester District, bringing to 100 the total number of KeyBank branches in those markets.

Buy $95M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-17 Pacific Crest Securities

Portland, Oregon, United States

Pacific Crest Securities is a investment bank focused exclusively on technology. The firm is a full-service investment bank providing research, institutional sales and trading, and investment banking services to technology investors and companies worldwide.

Buy -
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