M&A Deal Summary

Evercore Capital Partners and Thomas H. Lee Partners Acquire Sedgwick

On December 27, 2005, private equity firms Evercore Capital Partners and Thomas H. Lee Partners acquired insurance company Sedgwick from Stone Point Capital for 635M USD

Acquisition Highlights
  • This is Evercore Capital Partners’ 1st and Thomas H. Lee Partners’ 5th transaction in the Insurance sector.
  • This is Evercore Capital Partners’ and Thomas H. Lee Partners’ 24th largest (disclosed) transaction.
  • This is Evercore Capital Partners’ 6th and Thomas H. Lee Partners’ 14th transaction in the United States.
  • This is Evercore Capital Partners’ 1st and Thomas H. Lee Partners’ 1st transaction in Tennessee.
Investment Fate
  • Sedgwick was sold to a consortium of financial buyers in 2010 for 1.1B USD.
  • Sedgwick was sold to a consortium of financial buyers in 2014 for 2.4B USD.
  • Sedgwick was sold to a consortium of financial buyers in 2018 for 6.7B USD.

M&A Deal Summary

Date 2005-12-27
Target Sedgwick
Sector Insurance
Buyer(s) Evercore Capital Partners
Thomas H. Lee Partners
Sellers(s) Stone Point Capital
Deal Type Secondary Buyout
Deal Value 635M USD

Target

Sedgwick

Memphis, Tennessee, United States
website
Sedgwick is a global provider of technology-enabled risk, benefits and integrated business solutions. The Company provides technology-enabled claims management solutions for workers’ compensation, disability, liability, and property claims. Sedgwick was founded in 1969 and is based in Memphis, Tennessee.

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Buyer(S) 2

Buyer

Evercore Capital Partners

New York, New York, United States


Category Private Equity Firm
Founded 1996
Size Large
Type Sector Agnostic
DESCRIPTION

Evercore Capital Partners (ECP) is the private equity arm of investment bank Evercore Partners. ECP is part of Evercore's Investment Management division which also consists of Evercore Ventures, Evercore Asset Management, and Protego Asesores, a Mexico focused private equity fund launched jointly with Discovery Capital Partners. ECP seeks investments in middle-market businesses valued greater than $50 million. ECP looks for value situations with post-investment upside, and will consider opportunities in a variety of industries. Evercore was founded in 1996 and is based in New York City.


DEAL STATS #
Overall 6 of 10
Sector (Insurance) 1 of 2
Type (Secondary Buyout) 1 of 1
State (Tennessee) 1 of 1
Country (United States) 6 of 10
Year (2005) 3 of 3
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-09 TestEquity

Moorpark, California, United States

TestEquity is a distributor of electronic test and measurement equipment as well as laboratory and production supplies. TestEquity is a source provider for test solutions and electronic production supplies. TestEquity was founded in 1971 and is based in Moorpark, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-03-09 Davis Petroleum

Houston, Texas, United States

Davis Petroleum is an independent Houston-based oil and gas company focused on the acquisition, exploration, and development of domestic oil and gas properties onshore in south Louisiana, the upper Texas Gulf Coast, and East Texas. Davis Petroleum was founded in 2006 and is based in Houston, Texas.

Buy -
Buyer

Thomas H. Lee Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1974
PE ASSETS 25.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thomas H. Lee Partners, LP (THL) is a private equity firm that seeks buyout, expansion, consolidation, distressed, and recapitalization investments across various industries. Sectors of interest include business and information services, consumer products/retail, financial services, healthcare, industrial, and media/communications. THL looks to invest $100 to $400 million in companies valued up to $2.5 billion. Thomas H. Lee Partners, LP was formed in 1974 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 22 of 82
Sector (Insurance) 5 of 7
Type (Secondary Buyout) 5 of 30
State (Tennessee) 1 of 2
Country (United States) 14 of 70
Year (2005) 5 of 5
Size (of disclosed) 24 of 26
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-18 Ariel Re

Hamilton, Bermuda

Ariel Re is a reinsurance company based in Bermuda that underwrites a global portfolio of insurance and reinsurance business through offices in London, Bermuda, Atlanta and Kansas City. Ariel Re was founded in 2005 and is based in Hamilton, Bermuda.

Buy $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 Hawkeye Energy Holdings

Ames, Iowa, United States

Hawkeye Energy Holdings, LLC ('Hawkeye' or the 'Company') is the fourth largest ethanol producer in the United States based on production capacity of 450 MMGPY. Its access to low-cost corn supplies, approach to marketing its ethanol, operating scale, transportation infrastructure and operational expertise allow the Company to be one of the lowest-cost producers of ethanol in the United States. Hawkeye Gold, a marketing & services organization, has developed a best-in-class management team that is currently marketing ethanol and distillers grains for Hawkeye and several third party plants.

Buy -

Seller(S) 1

SELLER

Stone Point Capital

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1994
PE ASSETS 25.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Stone Point Capital is a private equity firm that targets investments in financial services sector. Specific areas of interest include insurance underwriting, outsourcing service providers to financial institutions, specialty lending and other credit opportunities, employee benefits and healthcare, asset management/retirement savings, and banking/depository institutions. Stone Point looks to commit between $5 and $500 million of equity per transaction and will consider control or substantial minority positions. Geographic areas of interest include North America and Europe. Stone Point Capital was formed in 1994 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 4 of 47
Sector (Insurance) 3 of 15
Type (Secondary Buyout) 2 of 13
State (Tennessee) 1 of 3
Country (United States) 3 of 42
Year (2005) 1 of 1
Size (of disclosed) 8 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-01 Alterra Capital Holdings

Hamilton, Bermuda

Alterra Capital Holdings Limited is a global insurance and reinsurance company dedicated to providing diversified specialty products to corporations, public entities, property and casualty insurers and life and health insurers. Alterra was formed through the May 2010 merger of Harbor Point Limited and Max Capital Group Ltd.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 Preferred Concepts

New York, New York, United States

Preferred Concepts LLC is an insurance program underwriter and wholesale broker. The company’s operating divisions include Preferred Concepts, a program administrator; Preferred Underwriting, a program underwriter; Preferred Brokerage, a wholesale broker; and ezumbrella.com, an online umbrella liability program.

Buy -