Pine Brook Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

Pine Brook Partners’ most common sectors for investment areoil/gas exploration (48%) and financial services (24%) . The Firm’s most common investment types include growth capital (36%) and buyout (lbo, mbo, mbi) (27%). In total, Pine Brook Partners has invested in 9 US states and 5 different countries. Its largest (disclosed) acquisition occurred in 2015 when it acquired Fidelis Insurance Holdings for $1.5B.

In the last 3 years, Pine Brook Partners has exited 7 companies. The Firm’s most common exit type is trade sale (44%). Pine Brook Partners’ largest (disclosed) exit occurred in 2021 when it sold Talcott Resolution Life for $2.3B.

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M&A Summary

  • M&A Total Activity67
    • M&A Buy Activity42
    • M&A Sell Activity25
  • Total Sectors Invested 4
  • Total Countries Invested 5
  • M&A Buy/Sell Connections 35
  • M&A Advisors 2

Pine Brook Partners

60 East 42nd Street, 50th Floor,
New York, New York 10165
United States
(212) 847-4333
www.pinebrookpartners.com
info@pinebrookpartners.com

Pine Brook Road Partners is a private equity group focused on growth capital investments in the energy and financial services sectors. Specific areas of interest within the energy sector include exploration, oilfield services, transportation/storage, power generation/distribution/transmission, and biofuel/renewable resources. Specific areas of interest within financial services include insurance, banks, asset management, specialty finance, and servicing/distribution/origination. Pine Brook generally acts as the lead/control investor in newly-formed or established businesses. The Firm has a special interest in 'underappreciated or overlooked' opportunities. Pine Brook Road Partners was formed in 2006 and is based in New York City.


Investment Criteria

Sectors of Interest: Energy Services and Equipment, Financial Services, Insurance, Oil/Gas Exploration, Packaging

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization, Stake Purchase, Venture, Joint Venture

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 100 500
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.0/yr) # 42 - - - - - 42
vol $3.4B $3.4B
Sell (1.8/yr) # 16 2 3 3 1 - 25
vol $2.7B $3.3B $6.0B
  67

Most Recent M&A

Company Date Value Type
Fidelis Insurance Holdings Ltd. 2023-06-29 - IPO
Pembroke, Bermuda · www.fidelisinsurance.com
Red Bluff Resources Holdings LLC 2022-06-29 - Trade Sale
Oklahoma City, Oklahoma
Cahill Services LLC 2022-05-31 - Trade Sale
Houston, Texas · www.cahillservices.com
ATX Energy Partners LLC 2022-02-02 - Merger
Austin, Texas · www.atxenergypartners.com
United Auto Credit Corp. 2021-12-14 300M USD Trade Sale
Fort Worth, Texas · www.unitedautocredit.net
Fair Square Financial LLC 2021-10-21 750M USD Trade Sale
Wilmington, Delaware · www.ollocard.com
Talcott Resolution Life, Inc. 2021-01-20 2.3B USD Secondary Sale
Windsor, Connecticut · www.talcottresolution.com
Global Atlantic Financial Group Ltd. 2020-07-08 - Secondary Sale
New York, New York · www.globalatlantic.com
Whitestar Asset Management, LLC 2020-06-24 - Secondary Sale
Dallas, Texas · www.whitestaram.com
Brigham Minerals, Inc. 2019-04-17 - IPO
Austin, Texas · www.brighamminerals.net
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Oil/Gas Exploration 6 (55%) 400M (100%) 20 (48%) 1.2B (39%)
Financial Services 2 (18%) - 10 (24%) 130M (4%)
Insurance 2 (18%) - 9 (21%) 1.7B (56%)
Energy Services and Equipment 1 (9%) - 3 (7%) -
Total 11 $400M 42 $3.0B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 7 (64%) 400M (100%) 30 (71%) 1.5B (50%)
  Texas 5 (45%) 400M (100%) 20 (48%) 1.3B (44%)
  New York 1 (9%) - 2 (5%) -
  Colorado - - 2 (5%) -
  North Carolina 1 (9%) - 1 (2%) -
  Rhode Island - - 1 (2%) 200M (7%)
  Oklahoma - - 1 (2%) -
  Louisiana - - 1 (2%) -
  Delaware - - 1 (2%) -
  Connecticut - - 1 (2%) -
Bermuda - - 5 (12%) 1.5B (50%)
Canada 2 (18%) - 4 (10%) -
  Alberta 2 (18%) - 4 (10%) -
United Kingdom 1 (9%) - 2 (5%) -
Puerto Rico 1 (9%) - 1 (2%) -
Domestic 7 (64%) 400M (100%) 30 (71%) 1.5B (50%)
Cross-border 4 (36%) - 12 (29%) 1.5B (50%)
Total 11 $400M 42 $3.0B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 4 (36%) - 15 (36%) -
Buyout (LBO, MBO, MBI) 3 (27%) 400M (100%) 11 (26%) 2.9B (96%)
Stake Purchase 3 (27%) - 6 (14%) -
Venture 1 (9%) - 5 (12%) -
Divestiture - - 2 (5%) -
Going Private - - 1 (2%) 110M (4%)
Joint Venture - - 1 (2%) -
Recapitalization - - 1 (2%) -
Total 11 $400M 42 $3.0B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 11 (44%) 3.8B (63%)
IPO 6 (24%) -
Secondary Sale 3 (12%) 2.3B (37%)
Trade Sale 3 (12%) -
Merger 1 (4%) -
Stake Sale 1 (4%) -
Total 25 $6.0B

Top M&A Advisors

Legal Deals
Skadden, Arps, Slate, Meagher & Flom
 2
Kirkland & Ellis
 1

Deal Values

buy # Total
> $1B 1 $1.5B
$100M to $1B 6 $1.9B
< $100M 1 $20M
TOTAL $3.4B
Largest Fidelis Insurance Holdings Ltd.
$1.5B (2015-06-09)
sell # Total
> $1B 1 $2.3B
$100M to $1B 8 $3.7B
< $100M 1 $18M
TOTAL $6.0B
Largest Talcott Resolution Life, Inc.
$2.3B (2021-01-20)

M&A Connections

Deals
Acquired from
Strategic(s)
5%
2 (5%)
Exited to
Investor(s)
16%
4 (16%)
Strategic(s)
48%
12 (48%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

6.0B USD

Established

2006

Specialist/Generalist

Specialist

Leadership

Howard Newman

Co-Founder & Managing Partner

Nicholas Chew

Managing Director, Energy Investment Team

Richard Aube

Managing Partner

W. Dana LaForge

Partner, Financial Services Investment Team

Elan Stukov

CFO & CCO

FAQ

When was Pine Brook Partners founded?

Pine Brook Partners was founded in 2006.

What type of investor is Pine Brook Partners?

Pine Brook Partners is a private equity firm.

Where is Pine Brook Partners headquartered?

Pine Brook Partners is headquartered in New York, New York.

How much capital does Pine Brook Partners have under management?

Pine Brook Partners has 6.0B USD under management.

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