M&A Deal Summary

TPG and Pharos Capital Group Acquire American Beacon Advisors

On September 15, 2008, private equity firms TPG and Pharos Capital Group acquired financial services company American Beacon Advisors from American Airlines for 480M USD

Acquisition Highlights
  • This is TPG’s 10th and Pharos Capital Group’s 1st transaction in the Financial Services sector.
  • This is TPG’s 83rd and Pharos Capital Group’s largest (disclosed) transaction.
  • This is TPG’s 91st and Pharos Capital Group’s 18th transaction in the United States.
  • This is TPG’s 14th and Pharos Capital Group’s 4th transaction in Texas.
Investment Fate
  • American Beacon Advisors was sold to a consortium of financial buyers in 2014 for 600M USD.

M&A Deal Summary

Date 2008-09-15
Target American Beacon Advisors
Sector Financial Services
Buyer(s) TPG
Pharos Capital Group
Sellers(s) American Airlines
Deal Type Divestiture
Deal Value 480M USD

Target

American Beacon Advisors

Irving, Texas, United States
website
American Beacon Advisors is a provider of investment advisory services to institutional and retail markets. American Beacon Advisors serves defined benefit plans, defined contribution plans, foundations, endowments, corporations, and other institutional investors, as well as retail clients. American Beacon Advisors was founded in 1986 and is based in Irving, Texas.

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Buyer(S) 2

Buyer

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1992
PE ASSETS 137.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.


DEAL STATS #
Overall 128 of 403
Sector (Financial Services) 10 of 25
Type (Divestiture) 15 of 36
State (Texas) 14 of 35
Country (United States) 91 of 270
Year (2008) 20 of 20
Size (of disclosed) 83 of 101
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-10 Strauss Elite International BV

Schipol, Netherlands

Strauss Elite International BV produces and markets coffee and coffee-related products. The company's products include roast and ground coffee, instant coffee, cappuccino, and coffee creamer. It has operations in the Balkans, Poland, Ukraine, Serbia & Montenegro, and Brazil. Strauss Elite is based in Schipol-Rijk, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-25 Mr. Cooper Group

Coppell, Texas, United States

Mr. Cooper Group is a provider of quality servicing, origination and transaction-based services related principally to single-family residences throughout the United States with operations under its primary brands: Mr. Cooper® and Xome®. Mr. Cooper Group was founded in 2015 and is based in Coppell, Texas.

Sell -
Buyer

Pharos Capital Group

Dallas, Texas, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1998
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Pharos Capital Group is a private equity firm that provides later-stage equity funding to companies at or near cash-flow break even. Investment funds are typically used to support growth, acquisitions, management buyouts, or recapitalization. Pharos looks to commit $20 to $50 million per transaction. Target sectors include healthcare, business services, and technology. Pharos prefers US-based opportunities. Pharos Capital Group was formed in 1998 and is based in Dallas, Texas.


DEAL STATS #
Overall 19 of 39
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 4 of 4
Country (United States) 18 of 38
Year (2008) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-06 Back Yard Burgers

Nashville, Tennessee, United States

Back Yard Burgers is a fast casual, better-burger concept that takes pride in its commitment to "providing custom, flame-grilled burgers and sandwiches with care." The company's franchise partners and employees are passionate about offering fresh ingredients, allowing their guests to customize their meals and serve the same high-quality food they would offer at home to their own family. Along with made-to-order gourmet Angus burgers, Back Yard Burgers' menu includes delicious grilled chicken sandwiches, fresh and creative salads, hand-dipped milkshakes, and freshly baked desserts. Today the franchise brand operates 55 locations (23-company owned and 33 franchised restaurants) in 11 states. Back Yard Burgers is a strong supporter of Share Our Strength - No Kid Hungry, whose goal is to end childhood hunger in America. Back Yard Burgers was founded in 1987 and is based in Nashville, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-11-16 TotalTrax

Newport, Delaware, United States

TotalTrax, Inc. is a provider of real-time vehicle, driver and inventory tracking technologies for manufacturing and warehouse operations. Offering a complete technology platform that transforms traditional material handling vehicles into “smart trucks”, TotalTrax provides solutions that automate data collection and reporting for materials handling operations.

Buy -

Seller(S) 1

SELLER

American Airlines

Fort Worth, Texas, United States

website


Category Company
Founded 1930
Sector Airlines
Employees132,800
Revenue 52.8B USD (2023)
DESCRIPTION
Entrance to American Airlines' corporate headquarters in Fort Worth, Texas.
Entrance to American Airlines' corporate headquarters in Fort Worth, Texas.

American Airlines is the holding company for American Airlines. American offers an average of nearly 6,700 flights per day to nearly 350 destinations in more than 50 countries. American is a founding member of the oneworld alliance, whose members and members-elect serve nearly 1,000 destinations with 14,250 daily flights to 150 countries. American Airlines was incorporated in 1930 and is based in Fort Worth, Texas.


DEAL STATS #
Overall 2 of 2
Sector (Financial Services) 1 of 1
Type (Divestiture) 2 of 2
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2008) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-03-01 Worldwide Flight Services

Roissy, France

Worldwide Flight Services is a provider of ground services at over 60 major airports. WFS provides ramp, passenger, cargo, and technical services for more than 200 domestic and international airlines, including American, Continental, British Airways, Cathay Pacific, and Korean Airlines. Worldwide Flight Services was founded in 1984 and is based in Roissy, France.

Sell $75M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-14 US Airways Group

Tempe, Arizona, United States

US Airways Group, along with US Airways Shuttle and US Airways Express, operates nearly 3,200 flights per day and serves more than 200 communities in the U.S., Canada, Mexico, Europe, the Middle East, the Caribbean, Central and South America. The airline employs more than 32,000 aviation professionals worldwide, operates the world's largest fleet of Airbus aircraft and is a member of the Star Alliance network, which offers its customers more than 21,500 daily flights to 1,356 airports in 193 countries. Together with its US Airways Express partners, the airline serves approximately 80 million passengers each year and operates hubs in Charlotte, N.C., Philadelphia and Phoenix, and a focus city in Washington, D.C. at Ronald Reagan Washington National Airport. US Airways Group, Inc. was formed in 1939 and is headquartered in Tempe, Arizona.

Buy $11.0B