M&A Deal Summary

Fairfax Acquires Atlas

On November 1, 2022, Fairfax acquired business services company Atlas for 10.9B USD

Acquisition Highlights
  • This is Fairfax’s 1st transaction in the Business Services sector.
  • This is Fairfax’s largest (disclosed) transaction.
  • This is Fairfax’s 3rd transaction in Canada.
  • This is Fairfax’s 1st transaction in British Columbia.

M&A Deal Summary
Date 2022-11-01
Target Atlas
Sector Business Services
Buyer(s) Fairfax
Deal Type Add-on Acquisition
Deal Value 10.9B USD

Target

Atlas

Vancouver, British Columbia, Canada
website
Atlas is an asset manager that owns and operates the businesses in which it invests while focusing on deploying capital across multiple verticals. Atlas' wholly-owned subsidiaries, Seaspan and APR is an integrated platform in the global maritime and energy space respectively. Atlas was founded in 2019 and is based in Vancouver, British Columbia.

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Buyer(S) 1

Buyer

Fairfax

Toronto, Ontario, Canada

website

Category Company
Founded 1951
Sector Insurance
Employees15,891
Revenue 25.6B USD (2021)
DESCRIPTION

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, Canada.

DEAL STATS #
Overall 12 of 12
Sector (Business Services) 1 of 1
Type (Add-on Acquisition) 8 of 8
State (British Columbia) 1 of 1
Country (Canada) 3 of 3
Year (2022) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-20 Crum & Forster

Morristown, New Jersey, United States

Crum & Forster provides specialty and standard commercial lines insurance products through company admitted and surplus lines insurance companies. The group is a founding member of the North American Pet Health Insurance Association (NAPHIA). Pethealth Inc. offers pet services through two brands 24Pet and VioVet. 24Pet are the experts in lost pet solutions, pet adoptions, animal welfare, and shelter support. A family of platforms, services, products, and people, obsessed with pets. From connecting them with loving families to protecting and helping keep them happy, healthy, and home. VioVet is a UK-registered veterinary online pet retailer that offers a variety of pet and horse supplies, including prescription and non-prescription medications, supplements, food, toys, and more. Crum & Forster was formed in 1896 and is based in Morristown, New Jersey.

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