PNC - M&A Summary and Business Overview

Financial ServicesCompany

PNC M&A Summary

PNC has acquired 17 companies, including 4 in the last 5 years. A total of 1 acquisition came from private equity firms. It has also divested 5 assets.

PNC’s largest acquisition to date was in 2020, when it acquired BBVA USA Bancshares for $11.6B. It’s largest disclosed sale occurred in 2010, when it sold Sterling Financial to Warburg Pincus for $730M. PNC has acquired in 10 different US states. The Company’s most targeted sectors include financial services (65%) and insurance (12%).

PNC Business Overview

Where is PNC headquartered?

PNC is headquartered in Pittsburgh, Pennsylvania.

What is PNC’s revenue?

PNC disclosed revenue of 19,135M USD for 2021 and 16,901M USD for 2020.

How many employees does PNC have?

PNC has 49,549 employees.

What sector is PNC in?

PNC is a financial services company.

When was PNC founded?

PNC was founded in 1852.

M&A Summary

  • M&A Total Activity22
    • M&A Buy Activity17
    • M&A Sell Activity5
  • Total Sectors Invested 6
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 10
  • M&A Advisors 6

PNC

The PNC Financial Services Group, Inc.

The Tower at PNC Plaza 300 Fifth Avenue,
Pittsburgh, Pennsylvania 15222
United States,
(888) 762-2265
www.pnc.com

PNC is a diversified financial services organizations providing consumer and business banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services. PNC was formed in 1922 and is based in Pittsburgh, Pennsylvania. PNC was founded in 1852 and is based in Pittsburgh, Pennsylvania.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.6/yr) # 14 1 1 1 - - 17
vol $17.4B $11.6B $29.0B
Sell (0.0/yr) # 5 - - - - - 5
vol $730M $730M
  22

Most Recent M&A

Company Date Value Type
Linga POS LLC 2022-09-26 - Add-on Acquisition
Naples, Florida · www.lingapos.com
Tempus Technologies, Inc. 2021-01-27 - Add-on Acquisition
Auburn, Indiana · www.tempuspayment.com
BBVA USA Bancshares, Inc. 2020-11-16 11.6B USD Divestiture
Houston, Texas · www.bbvausa.com
The PNC Financial Services Group, Inc. - Franchise Finance Business 2019-10-01 - Divestiture
Pittsburgh, Pennsylvania
The PNC Financial Services Group, Inc. - Investment-Management-Related Assets 2019-05-07 - Divestiture
Pittsburgh, Pennsylvania
Ambassador Financial Group, Inc. 2019-01-14 - Add-on Acquisition
Allentown, Pennsylvania · www.ambfg.com
The Trout Group LLC 2017-11-27 - Add-on Acquisition
New York, New York · www.troutgroup.com
ECN Capital Corp. - U.S. Commercial, Vendor Finance Business 2017-02-21 - Divestiture
Horsham, Pennsylvania
Solebury Capital Group LLC 2014-09-29 - Add-on Acquisition
New Hope, Pennsylvania · www.solecap.com
RBC Bank (USA), Inc. 2011-06-20 3.5B USD Divestiture
Raleigh, North Carolina · www.rbcbankusa.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Numo LLC    - Atlas Works 2023-02-07 1
Pittsburgh, Pennsylvania · www.numo.com Pittsburgh, Pennsylvania · www.atlasworks.io
RBC Bank (USA), Inc. 2011-06-20 RBC Bank (USA) - Trust Department 2011-06-29 1
Raleigh, North Carolina · www.rbcbankusa.com Birmingham, Alabama
National City Insurance Group, Inc. 2008-12-31 National City Insurance - Retail Employee Benefit Insurance Brokerage Offices 2010-03-01 1
Cleveland, Ohio , United States

M&A by Sector

Sector Buy # Value Sell # Value
Financial Services 11 (65%) 29.0B (100%) 5 (100%) 730M (100%)
Insurance 2 (12%) - - -
Business Services 1 (6%) - - -
Information Technology 1 (6%) - - -
Internet Software and Services 1 (6%) - - -
Software 1 (6%) - - -
Total 17 $29.0B 5 $730M

By Geo

State/Country Buy Value Sell Value
United States 17 29.0B 5 730M
  Pennsylvania 4 565M 3 730M
  New Jersey 3 1.0B - -
  Ohio 2 5.6B - -
  Florida 2 - - -
  Texas 1 11.6B - -
  North Carolina 1 3.5B - -
  New York 1 - - -
  Maryland 1 6.0B - -
  Indiana 1 - - -
  District of Columbia 1 779M - -
  Kentucky - - 1 -
Total 17 $29.0B 5 $730M

Top M&A Advisors

Financial Deals
BofA Securities
2
Citigroup Investment Banking
2
Goldman Sachs
1
Legal Deals
Wachtell, Lipton, Rosen & Katz
5

Deal Values

buy # Total
> $1B 4 $26.7B
$100M to $1B 4 $2.4B
TOTAL $29.0B
Largest BBVA USA Bancshares, Inc.
$11.6B (2020-11-16)
sell # Total
$100M to $1B 1 $730M
TOTAL $730M
Largest Sterling Financial Corp.
$730M (2010-08-26)

M&A Connections

Deals
Acquired from
Investor(s)
6%
1 (6%)
Strategic(s)
18%
3 (18%)
Divested to
Investor(s)
20%
1 (20%)
Strategic(s)
80%
4 (80%)

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