PNC Mergers and Acquisitions Summary

Financial Services Company

PNC has acquired 15 companies, including 5 in the last 5 years. A total of 1 acquisition came from private equity firms. It has also divested 6 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 Thomas H. Lee Partners for $730M. PNC has acquired in 10 different US states. The Company’s most targeted sectors include financial services (74%) and insurance (14%).

Join Mergr and gain access to PNC’s M&A summary, the M&A summaries of companies just like it, as well as recent M&A activity in the financial services sector.

M&A Summary

  • M&A Total Activity20
    • M&A Buy Activity15
    • M&A Sell Activity6
  • Total Sectors Invested 4
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 11
  • M&A Advisors 6

The PNC Financial Services Group, Inc. (PNC)

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 ≤ '16 '17 '18 '19 '20 '21 T
Buy (1.0/yr) # 10 2 - 1 1 1 15
vol $17.4B $11.6B $29.0B
Sell (0.4/yr) # 4 - - 2 - - 6
vol $730M $730M
  21

Most Recent M&A

Company Date Value Type
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
Sterling Financial Corp. 2010-08-26 730M USD Recapitalization
Lancaster, Pennsylvania · www.sterlingfinancialcorporation-spokane.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
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 (73%) 29.0B (100%) 5 (100%) 730M (100%)
Insurance 2 (13%) - - -
Business Services 1 (7%) - - -
Information Technology 1 (7%) - - -
Total 15 $29.0B 5 $730M

By Geo

State/Country Buy Value Sell Value
United States 15 29.0B 6 730M
  Pennsylvania 4 565M 3 730M
  Ohio 2 5.6B 1 -
  New Jersey 2 1.0B - -
  Texas 1 11.6B - -
  North Carolina 1 3.5B - -
  New York 1 - - -
  Maryland 1 6.0B - -
  Indiana 1 - - -
  Florida 1 - - -
  District of Columbia 1 779M - -
  Kentucky - - 1 -
Total 15 $29.0B 6 $730M

Top M&A Advisors

Financial Deals
Bank of America Merrill Lynch (BofA Securities)
2
Citigroup Investment Banking
2
Goldman Sachs Investment Banking Division
1
Legal Deals
Wachtell, Lipton, Rosen & Katz LLP
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)
7%
1 (7%)
Strategic(s)
20%
3 (20%)
Divested to
Investor(s)
17%
1 (17%)
Strategic(s)
83%
5 (83%)

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