M&A Deal Summary

RCS Capital Acquires Cetera

On January 16, 2014, RCS Capital acquired financial services company Cetera from Lightyear Capital for 1.2B USD

Acquisition Highlights
  • This is RCS Capital’s 1st transaction in the Financial Services sector.
  • This is RCS Capital’s largest (disclosed) transaction.
  • This is RCS Capital’s 1st transaction in the United States.
  • This is RCS Capital’s 1st transaction in California.
Investment Fate
  • Cetera was divested to a consortium of buyers in 2018.

M&A Deal Summary
Date 2014-01-16
Target Cetera
Sector Financial Services
Buyer(s) RCS Capital
Sellers(s) Lightyear Capital
Deal Type Divestiture
Deal Value 1.2B USD
Advisor(s) BofA Securities (Financial)
Simpson Thacher & Bartlett (Legal)

Target

Cetera

El Segundo, California, United States
website
Cetera is a network of independent firms empowering the delivery of professional financial advice to individuals, families and company retirement plans across the country through trusted financial advisors and financial institutions. Cetera was founded in 2010 and is based in El Segundo, California.

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Buyer(S) 1

Buyer

RCS Capital

New York, New York, United States

website

Category Company
Sector Financial Services
Employees1,942
Revenue 2.1B USD (2014)
DESCRIPTION

RCS Capital Corp. was formed to operate and grow the following four principal lines of business: a wholesale broker-dealer, an investment banking and capital markets business, a transaction management services provider and a transfer agent. RCS Capital Corp. filed for bankruptcy in 2015.

DEAL STATS #
Overall 1 of 3
Sector (Financial Services) 1 of 3
Type (Divestiture) 1 of 1
State (California) 1 of 2
Country (United States) 1 of 3
Year (2014) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-12 VSR Group

Overland Park, Kansas, United States

VSR Group, Inc. is an independent broker-dealer industry.

Buy -

Seller(S) 1

SELLER

Lightyear Capital

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2000
PE ASSETS 4.1B USD
Size Large
Type Sector Focused
DESCRIPTION

Lightyear Capital is a specialist private equity firm that pursues brand-name businesses in the financial services sector. Lightyear looks for companies with stable, recurring revenues that operate in growing markets. Transaction strategies include leveraged buyouts, recapitalizations, restructurings and consolidations. Lightyear Capital was formed in 2000 and is based in New York City.

DEAL STATS #
Overall 12 of 30
Sector (Financial Services) 4 of 13
Type (Divestiture) 2 of 2
State (California) 2 of 3
Country (United States) 9 of 24
Year (2014) 1 of 4
Size (of disclosed) 2 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-16 Ed Broking

London, United Kingdom

Ed Broking is an independent, global wholesale insurance and reinsurance broker with offices in the world’s key insurance hubs. It matches risks brought to us by expert retail brokers and those seeking reinsurance coverage with underwriters in these major markets. Ed Broking was founded in and is based in London, England.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-13 Antares Holdings

Hamilton, Bermuda

Antares Holdings is a specialist insurer and reinsurer operating in the Lloyd’s market.

Sell -
Mergr

Product

Company

Legal