M&A Deal Summary

The Blackstone Group Acquires Kensington Mortgages

On September 9, 2014, private equity firm The Blackstone Group acquired financial services company Kensington Mortgages from Investec for 180M GBP

Acquisition Highlights
  • This is The Blackstone Group’s 7th transaction in the Financial Services sector.
  • This is The Blackstone Group’s 133rd largest (disclosed) transaction.
  • This is The Blackstone Group’s 14th transaction in the United Kingdom.
Investment Fate
  • Kensington Mortgages was sold to a strategic buyer in 2022 for 2.3B GBP.

M&A Deal Summary
Date 2014-09-09
Target Kensington Mortgages
Sector Financial Services
Buyer(s) The Blackstone Group
Sellers(s) Investec
Deal Type Divestiture
Deal Value 180M GBP

Target

Kensington Mortgages

Maidenhead, United Kingdom
website
Kensington Mortgages is a specialist residential mortgage lender providing mortgages via brokers to borrowers with complex incomes. It uses proprietary technology, data analytics, and insight to design products and make lending decisions, focusing on the self-employed and customers who have multiple or variable incomes. Kensington Mortgage was formed in 1994 and is based in North Yorkshire.

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Buyer(S) 1

Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York City.

DEAL STATS #
Overall 181 of 321
Sector (Financial Services) 7 of 16
Type (Divestiture) 16 of 32
Country (United Kingdom) 14 of 26
Year (2014) 12 of 15
Size (of disclosed) 133 of 167
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-31 Siccar Point Energy

Aberdeen, United Kingdom

Siccar Point Energy Ltd. is a full-cycle production, development and exploration company focussed on high quality, low cost, long-life assets on the UK Continental Shelf. Siccar business now includes interests in four of the largest UK assets by remaining reserves (Schiehallion, Mariner, Cambo, and Rosebank) as well as an extensive portfolio of additional high-quality material development and exploration opportunities. Siccar Point Energy is based in Aberdeen, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-23 SuZhou Xinrong Best Medical

Zhangjiagnag, China

SuZhou Xinrong Best Medical is a designer, manufacturer, and supplier of orthopedic medical instruments to customers in China and internationally.

Buy -

Seller(S) 1

SELLER

Investec

Sandton, South Africa

website

Category Company
Founded 1974
Sector Financial Services
Employees8,500
Revenue 1.9B GBP (2022)
DESCRIPTION

Investec is an international specialist bank and asset manager providing a diverse range of financial products and services to a niche client base across three principal markets: the United Kingdom, South Africa and Australia. Investec focuses on delivering distinctive and profitable solutions for clients in three core areas of activity – asset management, wealth and investment, and specialist banking. Investec was founded in 1974 and is based in Sandton, South Africa.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
Country (United Kingdom) 1 of 1
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-23 J&J Africa

Beira, Mozambique

J&J Africa is a transporter and logistics provider specializing in reliable and efficient international transportation along the Beira Corridor. J&J also offers state of the art warehouse facilities for the handling of bulk and container cargo. J&J Africa was established in 1995 and is based in Beira, Mozambique.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 Tsebo

Johannesburg, South Africa

Tsebo is an African Integrated Workplace Management Solutions Provider that offers clients reduced costs, risks, and complexities together with increased quality, efficiency, and productivity. Tsebo was founded in 1971 and is based in Johannesburg, South Africa.

Buy -
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