Lightyear Capital Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Lightyear Capital has acquired 4 companies. It has also invested in 1 other.

Lightyear Capital’s most common sectors for investment arefinancial services (41%) and insurance (16%) . The Firm’s most common investment types include secondary buyout (35%) and buyout (lbo, mbo, mbi) (23%). In total, Lightyear Capital has invested in 18 US states and 6 different countries. Its largest (disclosed) acquisition occurred in 2006 when it acquired Flagstone Reinsurance Holdings S.A. for $715M.

In the last 3 years, Lightyear Capital has exited 4 companies. The Firm’s most common exit type is trade sale (40%). Lightyear Capital’s largest (disclosed) exit occurred in 2016 when it sold Yadkin Financial for $1.4B.

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M&A Summary

  • M&A Total Activity73
    • M&A Buy Activity43
    • M&A Sell Activity30
  • Total Sectors Invested 12
  • Total Countries Invested 6
  • M&A Buy/Sell Connections 37
  • M&A Advisors 8

Lightyear Capital

Lightyear Capital LLC

40 West 57th Street 22nd Floor,
New York, New York 10019
United States
(212) 328-0555
www.lycap.com
IR@lycap.com

Lightyear Capital is a specialist private equity firm that pursues brand-name businesses in the financial services sector. Lightyear looks for companies with stable, recurring revenues that operate in growing markets. Transaction strategies include leveraged buyouts, recapitalizations, restructurings and consolidations. Lightyear Capital was formed in 2000 and is based in New York City.


Investment Criteria

Sectors of Interest: Business Services, Financial Services, Healthcare Services, Information Technology, Insurance, Internet Software and Services, Software

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Growth Capital, Recapitalization, PIPE, Secondary Buyout, Stake Purchase

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA 10 -
Investment Size - -
Enterprise Value 200 2,000
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.8/yr) # 34 5 3 - - 1 43
vol $1.0B $1.0B
Sell (0.8/yr) # 26 - 2 2 - - 30
vol $6.8B $6.8B
  73

Most Recent M&A

Company Date Value Type
Prime Pensions, Inc. 2024-02-26 - Secondary Buyout
Florham Park, New Jersey · www.primepensionsinc.com
Pathlight Capital LLC 2022-12-01 - Unknown
Hingham, Massachusetts · www.pathlightcapital.com
Cerity Partners LLC 2022-06-13 - Recapitalization
New York, New York · www.ceritypartners.com
PracticeTek 2021-12-06 - Recapitalization
San Diego, California · www.practicetek.com
Schellman & Co. LLC 2021-09-17 - Growth Capital
Tampa, Florida · www.schellman.com
Wren Sterling Financial Planning Ltd. 2021-07-21 - Secondary Buyout
London, United Kingdom · www.wrensterling.com
Datalot, Inc. 2021-06-29 - Trade Sale
Brooklyn, New York · www.datalot.com
Therapy Brands, Inc. 2021-04-07 - Secondary Sale
Birmingham, Alabama · www.therapybrands.com
Allworth Financial 2020-10-20 - Secondary Buyout
Sacramento, California · www.allworthfinancial.com
Inszone Insurance Services, Inc. 2020-07-01 - Growth Capital
Rancho Cordova, California · www.inszoneinsurance.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Wren Sterling Financial Planning Ltd. 2021-07-21 Critchleys Financial Planning LLC 2022-07-01 1
London, United Kingdom · www.wrensterling.com Oxford, United Kingdom
First National Bancorp. 2017-06-01 Strategic Growth Bancorp Inc. 2017-06-01 2
Denver, Colorado El Paso, Texas

M&A by Sector

Sector Current # Value All-time # Value
Financial Services 7 (44%) 140M (100%) 18 (41%) 317M (31%)
Insurance 2 (13%) - 7 (16%) 715M (69%)
Business Services 3 (19%) - 4 (9%) -
Software 2 (13%) - 4 (9%) -
Information Technology 2 (13%) - 3 (7%) -
Retail - - 2 (5%) -
Communications - - 1 (2%) -
Healthcare Services - - 1 (2%) -
Internet Software and Services - - 1 (2%) -
Machinery - - 1 (2%) -
Marketing - - 1 (2%) -
Staffing - - 1 (2%) -
Total 16 $140M 44 $1.0B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 15 (94%) 140M (100%) 38 (86%) 317M (31%)
  California 4 (25%) - 7 (16%) -
  New York 1 (6%) - 4 (9%) -
  Texas 1 (6%) - 4 (9%) -
  Georgia 1 (6%) - 3 (7%) -
  Florida 1 (6%) - 3 (7%) -
  Tennessee 2 (13%) - 2 (5%) -
  Connecticut 1 (6%) - 2 (5%) -
  Minnesota - - 2 (5%) -
  Massachusetts - - 2 (5%) -
  Illinois 1 (6%) 140M (100%) 1 (2%) 140M (14%)
  New Jersey 1 (6%) - 1 (2%) -
  Colorado 1 (6%) - 1 (2%) -
  Washington 1 (6%) - 1 (2%) -
  Oregon - - 1 (2%) 177M (17%)
  North Carolina - - 1 (2%) -
  Arizona - - 1 (2%) -
  Alabama - - 1 (2%) -
  Virginia - - 1 (2%) -
United Kingdom 1 (6%) - 2 (5%) -
Luxembourg - - 1 (2%) 715M (69%)
Canada - - 1 (2%) -
  Manitoba - - 1 (2%) -
Germany - - 1 (2%) -
Bermuda - - 1 (2%) -
Domestic 15 (94%) 140M (100%) 38 (86%) 317M (31%)
Cross-border 1 (6%) - 6 (14%) 715M (69%)
Total 16 $140M 44 $1.0B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 7 (44%) - 15 (34%) -
Buyout (LBO, MBO, MBI) - - 10 (23%) 715M (69%)
Growth Capital 5 (31%) - 7 (16%) -
Divestiture 1 (6%) 140M (100%) 5 (11%) 140M (14%)
Recapitalization 2 (13%) - 2 (5%) -
PIPE - - 1 (2%) 177M (17%)
Consolidation 1 (6%) - 1 (2%) -
Joint Venture - - 1 (2%) -
Stake Purchase - - 1 (2%) -
Venture - - 1 (2%) -
Total 16 $140M 44 $1.0B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 9 (30%) 3.8B (56%)
Secondary Sale 8 (27%) 960M (14%)
Trade Sale 3 (10%) 729M (11%)
IPO 3 (10%) -
Divestiture 2 (7%) 1.3B (19%)
Merger 2 (7%) -
Recapitalization 1 (3%) -
Stake Sale 1 (3%) -
Unknown 1 (3%) -
Total 30 $6.8B

Top M&A Advisors

Financial Deals
BofA Securities
2
Jefferies
2
SunTrust Robinson Humphrey, Inc.
1
Legal Deals
Davis Polk & Wardwell
6
Simpson Thacher & Bartlett
2
Sullivan & Cromwell
1

Deal Values

buy # Total
$100M to $1B 3 $1.0B
TOTAL $1.0B
Largest Flagstone Reinsurance Holdings, S.A.
$715M (2006-02-27)
sell # Total
> $1B 2 $2.6B
$100M to $1B 8 $4.2B
< $100M 1 $42M
TOTAL $6.8B
Largest Yadkin Financial Corp.
$1.4B (2016-07-21)

M&A Connections

Deals
Acquired from
Investor(s)
36%
16 (36%)
Strategic(s)
11%
5 (11%)
Exited to
Investor(s)
30%
9 (30%)
Strategic(s)
53%
16 (53%)

FAQ

When was Lightyear Capital founded?

Lightyear Capital was founded in 2000.

What type of investor is Lightyear Capital?

Lightyear Capital is a private equity firm.

Where is Lightyear Capital headquartered?

Lightyear Capital is headquartered in New York, New York.

How much capital does Lightyear Capital have under management?

Lightyear Capital has 4.1B USD under management.

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