Pine Brook Partners Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Pine Brook Partners has acquired 1 company.

Pine Brook Partners’ most common sectors for investment are oil/gas exploration (49%) and financial services (20%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (32%) and growth capital (29%). In total, Pine Brook Partners has invested in 9 US states and 6 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 3 companies. The Firm’s most common exit type is trade sale (39%). Pine Brook Partners’ largest (disclosed) exit occurred in 2010 when it sold Common Resources for $805M.

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M&A Summary

M&A Total Activity58
- M&A Buy Activity45
- M&A Sell Activity13
Total Sectors Invested 5
Total Countries Invested 6
M&A Buy/Sell Connections 34
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

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

Transaction Criteria

Min

Max

Target Revenue

Target EBITDA

Investment Size

100

500

Enterprise Value

values in millions of USD

Year	≤ '16	'17	'18	'19	'20	'21	T
Buy (0.8/yr)	#	41	3	1	-	-	-	45
vol	$3.4B						$3.4B
Sell (1.0/yr)	#	8	2	-	1	1	1	13
vol	$1.3B	$448M					$1.8B
	58

Year

≤ '16

'17

'18

'19

'20

'21

Buy (0.8/yr)

vol

$3.4B

Sell (1.0/yr)

vol

$1.3B

$448M

$1.8B

Company	Date	Value	Type
Talcott Resolution Life Insurance Co.	2021-01-20	-	Secondary Buyout
Windsor, Connecticut · www.talcottresolution.com
Global Atlantic Financial Group Ltd.	2020-07-08	-	Secondary Buyout
New York, New York · www.globalatlantic.com
Brigham Minerals, Inc.	2019-04-17	-	IPO
Austin, Texas · www.brighamminerals.net
Talcott Resolution Life Insurance Co.	2018-05-31	-	Divestiture
Windsor, Connecticut · www.talcottresolution.com
ATX Energy Partners	2017-12-15	-	Growth Capital
Austin, Texas · www.atxenergypartners.com
Cadence Business Finance (CBF)	2017-09-01	198M USD	Add-on Acquisition
Houston, Texas · www.cadencebusinessfinance.com
Narragansett Bay Insurance Co.	2017-08-08	250M USD	Add-on Acquisition
Pawtucket, Rhode Island · www.nbic.com
Triumph Capital Advisors LLC	2017-03-30	-	Divestiture
Dallas, Texas
Admiral Permian Resources LLC	2017-03-09	-	Buyout (LBO, MBO, MBI)
Midland, Texas · www.admiralpermian.com
Aurigen Capital Ltd.	2016-10-20	285M CAD	Add-on Acquisition
Hamilton, Bermuda · www.aurigenre.com
View All >>

Company

Date

Value

Type

Talcott Resolution Life Insurance Co.

2021-01-20

Secondary Buyout

Windsor, Connecticut · www.talcottresolution.com

Global Atlantic Financial Group Ltd.

2020-07-08

Secondary Buyout

New York, New York · www.globalatlantic.com

Brigham Minerals, Inc.

2019-04-17

IPO

Austin, Texas · www.brighamminerals.net

Talcott Resolution Life Insurance Co.

2018-05-31

Divestiture

Windsor, Connecticut · www.talcottresolution.com

ATX Energy Partners

2017-12-15

Growth Capital

Austin, Texas · www.atxenergypartners.com

Cadence Business Finance (CBF)

2017-09-01

198M USD

Add-on Acquisition

Houston, Texas · www.cadencebusinessfinance.com

Narragansett Bay Insurance Co.

2017-08-08

250M USD

Add-on Acquisition

Pawtucket, Rhode Island · www.nbic.com

Triumph Capital Advisors LLC

2017-03-30

Divestiture

Dallas, Texas

Admiral Permian Resources LLC

2017-03-09

Buyout (LBO, MBO, MBI)

Midland, Texas · www.admiralpermian.com

Aurigen Capital Ltd.

2016-10-20

285M CAD

Add-on Acquisition

Hamilton, Bermuda · www.aurigenre.com

View All >>

Sector	Current #	Value	All-time #	Value
Oil/Gas Exploration	12 (48%)	780M (33%)	22 (49%)	1.2B (39%)
Insurance	3 (12%)	1.5B (63%)	9 (20%)	1.7B (56%)
Financial Services	6 (24%)	110M (5%)	9 (20%)	130M (4%)
Energy Services and Equipment	3 (12%)	-	4 (9%)	-
Packaging	1 (4%)	-	1 (2%)	-
Total	25	$2.4B	45	$3.0B

Sector

Current #

Value

All-time #

Value

Oil/Gas Exploration

12 (48%)

780M (33%)

22 (49%)

1.2B (39%)

Insurance

3 (12%)

1.5B (63%)

9 (20%)

1.7B (56%)

Financial Services

6 (24%)

110M (5%)

9 (20%)

130M (4%)

Energy Services and Equipment

3 (12%)

4 (9%)

Packaging

1 (4%)

1 (2%)

Total

$2.4B

$3.0B

State/Country	Current #	Value	All-time #	Value
United States	20 (80%)	890M (37%)	33 (73%)	1.5B (50%)
	Texas	11 (44%)	780M (33%)	19 (42%)	1.2B (40%)
	New York	2 (8%)	-	3 (7%)	-
	Oklahoma	2 (8%)	-	2 (4%)	-
	Connecticut	1 (4%)	-	2 (4%)	-
	Colorado	-	-	2 (4%)	-
	California	1 (4%)	110M (5%)	1 (2%)	110M (4%)
	Louisiana	1 (4%)	-	1 (2%)	-
	Rhode Island	-	-	1 (2%)	200M (7%)
Bermuda	1 (4%)	1.5B (63%)	5 (11%)	1.5B (50%)
Canada	1 (4%)	-	4 (9%)	-
	Alberta	1 (4%)	-	4 (9%)	-
United Kingdom	1 (4%)	-	1 (2%)	-
Colombia	1 (4%)	-	1 (2%)	-
Puerto Rico	1 (4%)	-	1 (2%)	-
Domestic	20 (80%)	890M (37%)	33 (73%)	1.5B (50%)
Cross-border	5 (20%)	1.5B (63%)	12 (27%)	1.5B (50%)
Total	25	$2.4B	45	$3.0B

State/Country

Current #

Value

All-time #

Value

United States

20 (80%)

890M (37%)

33 (73%)

1.5B (50%)

Texas

11 (44%)

780M (33%)

19 (42%)

1.2B (40%)

New York

2 (8%)

3 (7%)

Oklahoma

2 (8%)

2 (4%)

Connecticut

1 (4%)

2 (4%)

Colorado

2 (4%)

California

1 (4%)

110M (5%)

1 (2%)

110M (4%)

Louisiana

1 (4%)

1 (2%)

Rhode Island

1 (2%)

200M (7%)

Bermuda

1 (4%)

1.5B (63%)

5 (11%)

1.5B (50%)

Canada

1 (4%)

4 (9%)

Alberta

1 (4%)

4 (9%)

United Kingdom

1 (4%)

1 (2%)

Colombia

1 (4%)

1 (2%)

Puerto Rico

1 (4%)

1 (2%)

Domestic

20 (80%)

890M (37%)

33 (73%)

1.5B (50%)

Cross-border

5 (20%)

1.5B (63%)

12 (27%)

1.5B (50%)

Total

$2.4B

$3.0B

Type	Current #	Value	All-time #	Value
Buyout (LBO, MBO, MBI)	8 (32%)	2.4B (100%)	14 (31%)	3.0B (100%)
Growth Capital	7 (28%)	-	13 (29%)	-
Venture	4 (16%)	-	7 (16%)	-
Stake Purchase	4 (16%)	-	6 (13%)	-
Divestiture	1 (4%)	-	2 (4%)	-
Consolidation	1 (4%)	-	1 (2%)	-
Joint Venture	-	-	1 (2%)	-
Recapitalization	-	-	1 (2%)	-
Total	25	$2.4B	45	$3.0B

Type

Current #

Value

All-time #

Value

Buyout (LBO, MBO, MBI)

8 (32%)

2.4B (100%)

14 (31%)

3.0B (100%)

Growth Capital

7 (28%)

13 (29%)

Venture

4 (16%)

7 (16%)

Stake Purchase

4 (16%)

6 (13%)

Divestiture

1 (4%)

2 (4%)

Consolidation

1 (4%)

1 (2%)

Joint Venture

1 (2%)

Recapitalization

1 (2%)

Total

$2.4B

$3.0B

Type	Total #	Value
Trade Sale - Public Company	7 (54%)	1.8B (100%)
IPO	4 (31%)	-
Secondary Sale	2 (15%)	-
Total	13	$1.8B

Type

Total #

Value

Trade Sale - Public Company

7 (54%)

1.8B (100%)

IPO

4 (31%)

Secondary Sale

2 (15%)

Total

$1.8B

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

Legal

Deals

Skadden, Arps, Slate, Meagher & Flom LLP

Kirkland & Ellis LLP

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)

buy

Total

> $1B

$1.5B

$100M to $1B

$1.9B

< $100M

$20M

TOTAL

$3.4B

Largest

Fidelis Insurance Holdings Ltd.
$1.5B (2015-06-09)

sell	#	Total
$100M to $1B	5	$1.8B
TOTAL	$1.8B
Largest	Common Resources LLC $805M (2010-05-19)

sell

Total

$100M to $1B

$1.8B

TOTAL

$1.8B

Largest

Common Resources LLC
$805M (2010-05-19)

		Deals
Acquired from
Strategic(s)	4%	2 (4%)
Exited to
Investor(s)	23%	3 (23%)
Strategic(s)	38%	5 (38%)

Deals

Acquired from

Strategic(s)

2 (4%)

Exited to

Investor(s)

3 (23%)

Strategic(s)

5 (38%)

Pine Brook Partners Mergers and Acquisitions Summary

Private Equity Profile

M&A Summary