M&A Deal Summary

Onex Partners Acquires Digital Insurance

On October 8, 2020, private equity firm Onex Partners acquired insurance company Digital Insurance LLC from New Mountain Capital for 2.7B USD

Acquisition Highlights
  • This is Onex Partners’ 6th transaction in the Insurance sector.
  • This is Onex Partners’ 7th largest (disclosed) transaction.
  • This is Onex Partners’ 37th transaction in the United States.
  • This is Onex Partners’ 1st transaction in Georgia.

M&A Deal Summary

Date 2020-10-08
Target Digital Insurance LLC
Sector Insurance
Buyer(s) Onex Partners
Sellers(s) New Mountain Capital
Deal Type Secondary Buyout
Deal Value 2.7B USD

Target

Digital Insurance LLC

Atlanta, Georgia, United States
website
OneDigital is a provider of employee benefits for employers of all sizes, represents the new generation in health and benefits. Focused on creating harmony between people and technology. OneDigital delivers market-leading benefits solutions and is the only company offering a sophisticated combination of strategic advisory services, analytics, compliance support, technical innovations, and HR capital management tools to employers. OneDigital was founded in 2000 and is based in Atlanta, Georgia.

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Buyer(S) 1

Buyer

Onex Partners

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 32.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Onex Partners is the private equity investment arm of Onex Corp., a Canadian based public investment and asset management firm that also invests in real estate and credit securities. Onex Partners targets investments in large companies, and ONCAP which invests in smaller middle-market companies. Both groups consider North American businesses in a wide range of industries with a special interest in aerospace, healthcare, and industrial companies. Prospective transaction situations include corporate carve-outs where the firm can leverage restructuring capabilities. Onex Corp. was established in 1984 and is based in Toronto with an additional office in New York City.


DEAL STATS #
Overall 50 of 51
Sector (Insurance) 6 of 6
Type (Secondary Buyout) 14 of 14
State (Georgia) 1 of 1
Country (United States) 37 of 38
Year (2020) 2 of 2
Size (of disclosed) 7 of 30
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-16 Acacium Group

London, United Kingdom

Acacium Group is a healthcare workforce solutions and services partner dedicated to offering staffing, managed services, and innovative delivery models to health and social care systems and the life sciences industry. The company's specialist brands enable to combine workforce, services, deep clinical expertise, and technology to deliver better outcomes for clients and patients alike. Its experience of working end-to-end, from clinical trials to hospital and community-based services for example gives a unique insight into how best to support clients and make a positive difference.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-07 Monroe Operations LLC

Nashville, Tennessee, United States

Newport Healthcare is a provider of evidence-based healing centers for teens, young adults, and families struggling with mental health issues, eating disorders, and substance abuse. Newport Healthcare is based in Nashville, Tennessee.

Buy -

Seller(S) 1

SELLER

New Mountain Capital

New York, New York, United States

website


Category Private Equity Firm
Founded 2000
PE ASSETS 20.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

New Mountain Capital is a private investment firm focused on investment in public and private companies in a variety of industries. New Mountain generally invests $100 to $500 million per transaction and looks for businesses with strong market positions and high barriers to entry. New Mountain also prefers businesses that succeed in both good and bad economies. Sectors of interest include education, healthcare, business services, federal IT services, media, software, consumer products, logistics, financial services and technologies, and energy. New Mountain Capital was formed in 2000 and is based in New York City.


DEAL STATS #
Overall 31 of 39
Sector (Insurance) 4 of 4
Type (Secondary Buyout) 7 of 9
State (Georgia) 2 of 2
Country (United States) 28 of 36
Year (2020) 2 of 4
Size (of disclosed) 3 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-30 Gelest, Inc.

Morrisville, Pennsylvania, United States

Gelest, Inc. is a manufacturer, and supplier of commercial and research quantities of organosilicon compounds, metal-organic compounds and silicones. Gelest serves advanced technology markets through a materials science-driven approach. The company provides focused technical development and application support for personal care, semiconductors, medical materials, pharmaceutical synthesis, diagnostics and separation science, and specialty polymeric materials: “Gelest – Enabling Your Technology.” Gelest was founded in 1990 and is based in Morrisville, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-25 Natrol LLC

Chatsworth, California, United States

Natrol LLC manufactures and sells quality uncompromised nutritional supplements in the United States and select international markets. It offers branded products including vitamins, minerals, and supplements, diet and weight-management products; sports nutrition products. Natrol LLC was formed in 1980 and is based in Chatsworth, California.

Buy -