Key Bank Mergers and Acquisitions Summary

Financial ServicesCompany

Key Bank has acquired 10 companies, including 5 in the last 5 years. A total of 3 acquisitions came from private equity firms. It has also divested 3 assets.

Key Bank’s largest acquisition to date was in 2015, when it acquired First Niagara Financial Group for $4.1B. It’s largest disclosed sale occurred in 2013, when it sold Victory Capital Holdings to Crestview Partners for $246M. Key Bank has acquired in 8 different US states. The Company’s most targeted sectors include financial services (75%) and information technology (13%).

Join Mergr and gain access to Key Bank’s M&A summary, the M&A summaries of companies just like it, as well as recent M&A activity in the financial services sector.

M&A Summary

  • M&A Total Activity11
    • M&A Buy Activity8
    • M&A Sell Activity3
  • Total Sectors Invested 3
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 9
  • M&A Advisors 3

Key Bank

KeyCorp.

127 Public Square,
Cleveland, Ohio 44114
United States,
(216) 689-3000
www.key.com

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.


M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (0.8/yr) # 4 - 1 - 2 1 8
vol $4.2B $4.2B
Sell (0.2/yr) # 2 1 - - - - 3
vol $246M $246M
  11

Most Recent M&A

Company Date Value Type
GradFin 2022-05-09 - Add-on Acquisition
Philadelphia, Pennsylvania · www.gradfin.com
XUP, Inc. 2021-11-22 - Add-on Acquisition
Charlotte, North Carolina · www.xuppay.com
AQN Strategies LLC 2021-03-02 - Add-on Acquisition
McLean, Virginia · www.aqnstrategies.com
Laurel Road Bank - Online Lending Business 2019-01-16 - Divestiture
, Connecticut
Key Insurance & Benefits Services, Inc. 2018-03-29 - Divestiture
Buffalo, New York
HelloWallet Holdings, Inc. 2017-05-31 - Divestiture
Washington, District of Columbia · www.hellowallet.com
First Niagara Financial Group, Inc. 2015-10-30 4.1B USD Add-on Acquisition
Buffalo, New York · www.fnfg.com
Pacific Crest Securities LLC 2014-07-17 - Add-on Acquisition
Portland, Oregon · www.pacific-crest.com
Victory Capital Holdings, Inc. 2013-02-21 246M USD Divestiture
San Antonio, Texas · www.vcm.com
HSBC - 37 Retail Banking Branches 2012-07-13 95M USD Divestiture
, United States
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
KeyBank Real Estate Capital    - Bank of America CMBS Servicing Portfolio 2013-05-09 2
Kansas City, Missouri · www.key.com/key2cre , United States

M&A by Sector

Sector Buy # Value Sell # Value
Financial Services 6 (75%) 4.2B (100%) 1 (33%) 246M (100%)
Information Technology 1 (13%) - 1 (33%) -
Internet Software and Services 1 (13%) - - -
Insurance - - 1 (33%) -
Total 8 $4.2B 3 $246M

By Geo

State/Country Buy Value Sell Value
United States 8 4.2B 3 246M
  New York 1 4.1B 1 -
  Virginia 1 - - -
  Pennsylvania 1 - - -
  Oregon 1 - - -
  North Carolina 1 - - -
  District of Columbia 1 - - -
  Connecticut 1 - - -
  Texas - - 1 246M
  Ohio - - 1 -
Total 8 $4.2B 3 $246M

Top M&A Advisors

Financial Deals
Morgan Stanley
2
KeyBanc Capital Markets
2
Legal Deals
Simpson Thacher & Bartlett LLP
1

Deal Values

buy # Total
> $1B 1 $4.1B
< $100M 1 $95M
TOTAL $4.2B
Largest First Niagara Financial Group, Inc.
$4.1B (2015-10-30)
sell # Total
$100M to $1B 1 $246M
TOTAL $246M
Largest Victory Capital Holdings, Inc.
$246M (2013-02-21)

M&A Connections

Deals
Acquired from
Investor(s)
13%
1 (13%)
Strategic(s)
38%
3 (38%)
Divested to
Investor(s)
33%
1 (33%)
Strategic(s)
67%
2 (67%)

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