M&A Deal Summary

GI Partners, TowerBrook Capital Partners, Peterson Partners, OMERS Private Equity, Constitution Capital Partners and The Silverfern Group Acquire Ladder Capital

On November 12, 2008, private equity firm GI Partners, private equity firm TowerBrook Capital Partners, asset manager Peterson Partners, private equity firm OMERS Private Equity, private equity firm Constitution Capital Partners and asset manager The Silverfern Group acquired financial services company Ladder Capital for 1.0B USD

Acquisition Highlights
  • This is GI Partners’ 1st, TowerBrook Capital Partners’ 2nd, Peterson Partners’ 1st, OMERS Private Equity’s 1st, Constitution Capital Partners’ 1st and The Silverfern Group’s 2nd transaction in the Financial Services sector.
  • This is GI Partners’ 3rd, TowerBrook Capital Partners’ 3rd, Peterson Partners’ , OMERS Private Equity’s 7th, Constitution Capital Partners’ 2nd and The Silverfern Group’s largest (disclosed) transaction.
  • This is GI Partners’ 6th, TowerBrook Capital Partners’ 16th, Peterson Partners’ 27th, OMERS Private Equity’s 4th, Constitution Capital Partners’ 5th and The Silverfern Group’s 2nd transaction in the United States.
  • This is GI Partners’ 2nd, TowerBrook Capital Partners’ 4th, Peterson Partners’ 2nd, OMERS Private Equity’s 1st, Constitution Capital Partners’ 1st and The Silverfern Group’s 1st transaction in New York.
Investment Fate
  • Ladder Capital went public in 2014.

M&A Deal Summary

Date 2008-11-12
Target Ladder Capital
Sector Financial Services
Buyer(s) GI Partners
TowerBrook Capital Partners
Peterson Partners
OMERS Private Equity
Constitution Capital Partners
The Silverfern Group
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 1.0B USD

Target

Ladder Capital

New York, New York, United States
website
Ladder Capital is a commercial real estate finance company that originates and invests in a diverse portfolio of commercial real estate and real estate-related assets, focusing on senior secured assets. Ladder’s investment activities include: (i) direct origination of mid-market commercial real estate first mortgage loans of $5 million to $100 million; (ii) investments in investment grade securities secured by first mortgage loans on commercial real estate; and (iii) investments in net leased and other commercial real estate. Ladder Capital was founded in 2008 and is headquartered in New York, New York.

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Buyer(S) 6

Buyer

GI Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2001
PE ASSETS 16.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GI Partners (Global Innovation Partners) is a private equity firm focused on control oriented investments in asset-backed businesses and properties located throughout North America and Western Europe. GI looks to invest up to $1500 million in companies generating predictable, recurring cash flows; underperforming businesses with intrinsic value; and direct asset investments with operational complexity. Sectors of interest include energy, education, healthcare services, leisure, retail, logistics, media, entertainment, financial services, technology, and telecommunications. GI Partners was formed in 2001 and has offices in San Francisco, Greenwich, and Chicago.


DEAL STATS #
Overall 9 of 58
Sector (Financial Services) 1 of 4
Type (Buyout (LBO, MBO, MBI)) 6 of 17
State (New York) 2 of 3
Country (United States) 6 of 46
Year (2008) 2 of 2
Size (of disclosed) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-25 Care Aspirations

London, United Kingdom

Care Aspirations is a provider of low-secure learning disabilities services. Care Aspirations was founded in 1986 and is based in London, England.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-09-03 FlatIron Crossing

Broomfield, Colorado, United States

FlatIron Crossing, a 1.7 million square foot class A regional mall. Strong employment base IBM, Sun/Oracle, Ball Corp each employ over 3,000 in market 78,000 employees in trade area.

Buy -
Buyer

TowerBrook Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2001
PE ASSETS 17.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TowerBrook Capital Partners is a private equity firm focused on leveraged buyouts, leveraged build-ups and distressed situation investments throughout North America and Europe. TowerBrook prefers control-oriented investments and actively pursues complex situations that other firms may avoid. Target sectors include consumer services, distribution, beverages, pharmaceuticals, media, technology, communications, software, and healthcare. TowerBrook Capital Partners was established in 2001 and is headquartered in New York City.


DEAL STATS #
Overall 26 of 86
Sector (Financial Services) 2 of 7
Type (Buyout (LBO, MBO, MBI)) 19 of 30
State (New York) 4 of 6
Country (United States) 16 of 41
Year (2008) 3 of 3
Size (of disclosed) 3 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-01 The Broadlane Group

Dallas, Texas, United States

The Broadlane Group, Inc. is a provider of comprehensive supply chain management, technology and other value-added services to hospitals, physicians offices and surgery centers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-05-01 Wilton Brands

Woodridge, Illinois, United States

Wilton Brands was a distributor of craft and celebration products in the U.S. The business comprised a number of creative consumer products companies, whose diversified product portfolio included baking, cake decorating, candy and cookie making, party and seasonal products, together with scrapbooking, card-making, needlecraft, paint-by-numbers and rubber stamping products, sold through several established consumer brands.

Buy -
Buyer

Peterson Partners

Salt Lake City, Utah, United States

Investor Investor Investor Investor Investor

website


Category Asset Manager
Founded 1995
PE ASSETS 350M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Peterson Partners is a private equity firm that targets investments in lower middle-market growth companies located in the Western US. Peterson looks to commit between $5 and $25 million of equity in companies generating sales of at least $5 million. Sectors of interest include consumer products and services, business services, and manufacturing. Peterson Partners was formed in 1995 and is based in Salt Lake City, Utah.


DEAL STATS #
Overall 29 of 56
Sector (Financial Services) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 17 of 25
State (New York) 2 of 4
Country (United States) 27 of 49
Year (2008) 5 of 5
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-30 Jetscape

Fort Lauderdale, Florida, United States

Jetscape engages in commercial aircraft leasing, management, remarketing and advisory services. The company serves a variety of aircraft owners and operators throughout the world.

Buy $40M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-12-01 Handi Quilter

North Salt Lake, Utah, United States

Handi Quilter develops and manufactures branded and OEM quilting machines, frames, tables, computerized quilting systems, and quilting accessories. The company's products are primarily used in the home by dedicated quilting enthusiasts as well as by quilters with home-based businesses. Handi Quilter was founded in 1998 and is based in North Salt Lake, Utah.

Sell -
Buyer

OMERS Private Equity

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1987
PE ASSETS 19.8B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

OMERS Private Equity, Inc. is the private equity arm of the Ontario Municipal Employees Retirement System. OMERS invests in buyout, venture, and mezzanine funds as well as makes direct private equity investments in North American companies with and enterprise value of $200 million to 1.5 billion. Target sectors include manufacturing, financial and business services, industrial and consumer products, transportation, and technology. OMERS Private Equity was formed in 1987 and is based in Toronto, Ontario.


DEAL STATS #
Overall 13 of 55
Sector (Financial Services) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 9 of 12
State (New York) 1 of 3
Country (United States) 4 of 28
Year (2008) 2 of 2
Size (of disclosed) 7 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-10 Maxxam Analytics International

Mississauga, Ontario, Canada

Maxxam Analytics International Corp. is a privately held laboratory services provider, serving an extensive customer base with a national network of laboratories and a team of dedicated and experienced management and scientific professionals. Maxxam provides testing services to the environmental, oil and gas, petrochemical, construction, general manufacturing, food and nutrition and government sectors.

Buy $237M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-06-01 Nordco

Oak Creek, Wisconsin, United States

Nordco is a provider of highly-engineered equipment, parts and services to the railroad maintenance-of-way, railcar moving and rail flaw detection sectors. Nordco was founded in 1926 and is based in Oak Creek, Wisconsin.

Buy -
DESCRIPTION

Constitution Capital Partners is a private equity firm focused on buyouts of North American companies. Constitution typically invests in private equity partnerships, however the Firm also makes direct private equity and credit investments. Constitution Capital Partners does not have any sector preferences. The Firm was formed in 2008 and is headquartered in Andover, Massachusetts.


DEAL STATS #
Overall 7 of 25
Sector (Financial Services) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 5 of 12
State (New York) 1 of 1
Country (United States) 5 of 22
Year (2008) 3 of 4
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-02 ConvaTec

Reading, United Kingdom

ConvaTec is a global medical products and technologies company that provides advanced wound care, ostomy care, continence, and critical care, and infusion devices. ConvaTec was formed in 1972 and is based in Reading, United Kingdom.

Buy $4.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-11-26 The Environmental Quality

Wayne, Michigan, United States

The Environmental Quality Company is a fully integrated environmental services and waste management organization based in Wayne, Michigan.

Buy -
DESCRIPTION

The Silverfern Group is an asset management firm focused on investing in private equity, real estate, and private debt transactions on behalf of institutional investors and single family offices. The Firm will consider opportunities across North/South America, Europe, and Asia. Within its private equity practice, Silverfern makes direct, co-control middle-market private equity investments requiring $25 to $150 million of equity per transaction. Sectors of interest include energy, financial services, food, hospitality, IT, power equipment rental, renewable energy, telecom, transportation, and waste management. The Silverfern Group was established in 2001 and is headquartered in New York City.


DEAL STATS #
Overall 2 of 19
Sector (Financial Services) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 2 of 9
State (New York) 1 of 1
Country (United States) 2 of 13
Year (2008) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-01 CorePointe Group

Jupiter, Florida, United States

CorePointe Group comprises CorePointe Insurance Company and CorePointe Capital Finance. CorePointe Group provides dealer open lot inventory protection, surety bonds, and other related coverages and CorePointe Capital Finance provides middle-market lending. CorePointe Group was founded in 2007 and is based in Jupiter, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-01 Carlile Bancshares

Forth Worth, Texas, United States

Carlile Bancshares, Inc. is a provider of buying small to regional banks that are looking for shareholder alternatives. Carlile Bancshares, Inc. was established in 2009 and is headquartered in Forth Worth, Texas.

Buy -