M&A Deal Summary

Fortress Investment Group and Cerberus Capital Management Acquires Green Tree Servicing

On June 1, 2003, asset manager Fortress Investment Group and private equity firm Cerberus Capital Management acquired financial services company Green Tree Servicing LLC for 620M USD

Acquisition Highlights
  • This is Fortress Investment Group’s 3rd and Cerberus Capital Management’s 1st transaction in the Financial Services sector.
  • This is Fortress Investment Group’s 10th and Cerberus Capital Management’s 7th largest (disclosed) transaction.
  • This is Fortress Investment Group’s 5th and Cerberus Capital Management’s 1st transaction in the United States.
  • This is Fortress Investment Group’s 1st and Cerberus Capital Management’s 1st transaction in Minnesota.
Investment Fate
  • Green Tree Servicing was sold to a financial buyer in 2007.
  • Green Tree Servicing was sold to a publicly-traded strategic buyer in 2011 for 1.1B USD.

M&A Deal Summary

Date 2003-06-01
Target Green Tree Servicing LLC
Sector Financial Services
Buyer(s) Fortress Investment Group
Cerberus Capital Management
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 620M USD

Target

Green Tree Servicing LLC

St. Paul, Minnesota, United States
website
Green Tree Servicing LLC provides home loan servicers in the United States.

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Buyer(S) 2

Buyer

Fortress Investment Group

New York, New York, United States

website


Category Asset Manager
Founded 1998
PE ASSETS 36.1B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Fortress is a public investment firm that manages hedge fund and private equity investments. Fortress' private equity practice primarily makes control-oriented investments in North American and Western European businesses with significant asset-bases and strong cash-flows. Fortress is open to investing in a wide range of sectors, however the Firm has tended towards capital intensive sectors. These include transportation, financials, senior living/healthcare, real estate, media & telecommunications, leisure and energy infrastructure. The pivate equity group also invests in publicly traded alternative investment vehicles, which Fortress refers to as 'castles' that primarily invest in real estate and real estate related debt. Fortress is based in New York City with additional offices in Atlanta, Chicago, Dallas, Frankfurt, Geneva, Hong Kong, London, Los Angeles, Munich, New Canaan, Rome, San Diego, San Francisco, Sydney, Tokyo, and Toronto.


DEAL STATS #
Overall 6 of 41
Sector (Financial Services) 3 of 9
Type (Buyout (LBO, MBO, MBI)) 3 of 16
State (Minnesota) 1 of 1
Country (United States) 5 of 31
Year (2003) 1 of 2
Size (of disclosed) 10 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-10-01 Global Signal, Inc.

Sarasota, Florida, United States

Global Signal, Inc. is an Real Estate Investment Company, owner of wireless towers and other communications sites in the United States. Company sites are primarily located in the southeastern and mid-Atlantic regions of the country.

Buy $740M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-12-01 Simon Storage Ltd.

Redhill, United Kingdom

Simon Storage is one of Europe's largest independent bulk liquid and gas infrastructure and service companies.

Buy -
Buyer

Cerberus Capital Management

New York, New York, United States

website


Category Private Equity Firm
Founded 1992
PE ASSETS 30.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Cerberus Capital Management is a private investment firm that targets a wide range of global investments. Cerberus primarily looks for undervalued or distressed situations. Industry sectors of interest include aerospace and defense, apparel, automotive and industrial, building products, commercial services, consumer and retail, financial services, healthcare, manufacturing and distribution, paper, packaging, and printing, real estate, technology, telecommunications, transportation, and travel. Cerberus was formed in 1992 by Steve Feinberg and is based in New York. Cerberus also has offices/affiliates in Chicago, Illinois; Los Angeles, California; Atlanta, Georgia; London, United Kingdom; Baarn, Netherlands; Frankfurt, Germany; Tokyo and Osaka, Japan; and Taipei, Taiwan.


DEAL STATS #
Overall 1 of 70
Sector (Financial Services) 1 of 8
Type (Buyout (LBO, MBO, MBI)) 1 of 22
State (Minnesota) 1 of 1
Country (United States) 1 of 47
Year (2003) 1 of 1
Size (of disclosed) 7 of 13
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 AerCap Holdings N.V.

Schiphol Airport, Netherlands

Headquartered in Amsterdam, The Netherlands, AerCap (formerly debis AirFinance) is an integrated global aviation company with a leading market position in aircraft and engine leasing, trading and parts sales.

Buy -