M&A Deal Summary

Stone Point Capital Acquires Genex

On January 24, 2007, private equity firm Stone Point Capital acquired insurance company Genex from Unum

Acquisition Highlights
  • This is Stone Point Capital’s 13th transaction in the Insurance sector.
  • This is Stone Point Capital’s 12th transaction in the United States.
  • This is Stone Point Capital’s 2nd transaction in Pennsylvania.
Investment Fate
  • Genex was sold to a financial buyer in 2014.
  • Genex was sold to a financial buyer in 2018.

M&A Deal Summary

Date 2007-01-24
Target Genex
Sector Insurance
Buyer(s) Stone Point Capital
Sellers(s) Unum
Deal Type Divestiture

Target

Genex

Wayne, Pennsylvania, United States
website
Genex Services is the trusted provider of managed care services enabling clients to transform their bottom lines while enhancing the lives of injured and disabled workers. The company is a managed care leader with more than 2,900 employees and 41 service locations throughout North America. The company serves the top underwriters of workers’ compensation, automobile, disability insurance, third-party administrators, and a significant number of Fortune 500 employers. In addition, Genex is the only company that delivers high-quality clinical services enhanced by intelligent systems and 360-degree data analysis. The company consistently drives superior results related to medical, wage loss, and productivity costs associated with claims in the workers’ compensation, disability, automobile, and health care systems. Genex was formed in 1978 and is based in Wayne, Pennsylvania.

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Buyer(S) 1

Buyer

Stone Point Capital

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1994
PE ASSETS 19.0B USD
SizeMega
Type Sector Focused
DESCRIPTION

Stone Point Capital LLC is a private equity firm that targets investments in the insurance and financial services industries. Specific areas of interest include insurance underwriting, outsourcing service providers to financial institutions, specialty lending and other credit opportunities, employee benefits and healthcare, asset management/retirement savings, and banking/depository institutions. Stone Point looks to commit between $5 and $500 million of equity per transaction and will consider control or substantial minority positions. Geographic areas of interest include North America and Europe. Stone Point Capital was formed in 1994 and is based in Greenwich, Connecticut and New York City.


DEAL STATS #
Overall 17 of 99
Sector (Insurance) 13 of 29
Type (Divestiture) 1 of 5
State (Pennsylvania) 2 of 5
Country (United States) 12 of 86
Year (2007) 3 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 Enstar Group

Hamilton, Bermuda

Enstar Group is a insurance run-off services company that specializes in acquiring and managing reserves associated with discontinued books of property & casualty insurance and reinsurance business on a global basis. Enstar Group was founded in 2001 and is based in Hamilton, Bermuda.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-02 EasyCare

Norcross, Georgia, United States

EasyCare is a marketer and administrator of vehicle service contracts and complementary products sold by auto dealers throughout the United States and Canada. EasyCare was formed in 1984 and is based in Norcross, Georgia.

Buy -

Seller(S) 1

SELLER

Unum

Chattanooga, Tennessee, United States

website


Category Company
Founded 1848
SectorInsurance
Employees10,300
Revenue 11.9B USD (2021)
DESCRIPTION
Unum's corporate headquarters in Chattanooga, Tennessee.
Unum's corporate headquarters in Chattanooga, Tennessee.

Unum is a provider of financial protection benefits in the United States and the United Kingdom. Unum’s portfolio includes disability, life, accident and critical illness coverage, which help protect millions of working people and their families in the event of an illness or injury. Unum was formed in 1848 and is based in Chattanooga, Tennessee.


DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 1 of 1
Year (2007) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-01-01 Genex

Wayne, Pennsylvania, United States

Genex Services is the trusted provider of managed care services enabling clients to transform their bottom lines while enhancing the lives of injured and disabled workers. The company is a managed care leader with more than 2,900 employees and 41 service locations throughout North America. The company serves the top underwriters of workers’ compensation, automobile, disability insurance, third-party administrators, and a significant number of Fortune 500 employers. In addition, Genex is the only company that delivers high-quality clinical services enhanced by intelligent systems and 360-degree data analysis. The company consistently drives superior results related to medical, wage loss, and productivity costs associated with claims in the workers’ compensation, disability, automobile, and health care systems. Genex was formed in 1978 and is based in Wayne, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-10 National Dental Plan

London, United Kingdom

National Dental Plan Ltd. is a provider of financial protection benefits and services in the U.S. and U.K.

Buy $50M