Pine Brook Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

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

Pine Brook Partners’ most common sectors for investment areoil/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

Pine Brook Road Partners is a private equity group focused on growth capital investments in the energy and financial services sectors. Specific areas of interest within the energy sector include exploration, oilfield services, transportation/storage, power generation/distribution/transmission, and biofuel/renewable resources. Specific areas of interest within financial services include insurance, banks, asset management, specialty finance, and servicing/distribution/origination. Pine Brook generally acts as the lead/control investor in newly-formed or established businesses. The Firm has a special interest in 'underappreciated or overlooked' opportunities. Pine Brook Road Partners was formed in 2006 and is based in New York City.


Investment Criteria

Sectors of Interest: Energy Services and Equipment, Financial Services, Insurance, Oil/Gas Exploration, Packaging

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization, Stake Purchase, Venture, Joint Venture

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

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

M&A Summary

Buy vs Sell

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

Most Recent M&A

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 >>

M&A by Sector

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

Acquisitions By Geo

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

Acquisitions by Deal Type

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

Exits by Deal Type

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

Top M&A Advisors

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

Deal Values

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

M&A Connections

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

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