M&A Deal Summary

Access Bank Acquires Diamond Bank

On December 1, 2018, Access Bank acquired financial services company Diamond Bank from Kunoch and The Carlyle Group

Acquisition Highlights
  • This is Access Bank’s 1st transaction in the Financial Services sector.
  • This is Access Bank’s 1st transaction in Nigeria.

M&A Deal Summary

Date 2018-12-01
Target Diamond Bank
Sector Financial Services
Buyer(s) Access Bank
Sellers(s) Kunoch
The Carlyle Group
Deal Type Add-on Acquisition

Target

Diamond Bank

Lagos, Nigeria
Diamond Bank Plc is a new generation universal bank in Nigeria, engaged in corporate, commercial and consumer banking.

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Buyer(S) 1

Buyer

Access Bank

Lagos, Nigeria

Category Company
Founded 1988
Sector Financial Services
DESCRIPTION

Access Bank is a Nigerian multinational commercial bank. It is licensed by the Central Bank of Nigeria, the national banking regulator. Access Bank is headquartered in Lagos.


DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (Nigeria) 1 of 1
Year (2018) 1 of 1

Seller(S) 2

DESCRIPTION


DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (Nigeria) 1 of 1
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-24 Diamond Bank

Lagos, Nigeria

Diamond Bank Plc is a new generation universal bank in Nigeria, engaged in corporate, commercial and consumer banking.

Buy -
SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 358 of 482
Sector (Financial Services) 26 of 33
Type (Add-on Acquisition) 154 of 199
Country (Nigeria) 1 of 1
Year (2018) 15 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-14 Catapult Learning

Philadelphia, Pennsylvania, United States

Catapult Learning is an outsourced K-12 educational services platform in the U.S. The Company serves more than 300,000 K-12 students across 300+ districts, including 16 of the 20 largest districts, in 38 states and the District of Columbia. Catapult Learning was founded in 1976 and is based in Philadelphia, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-10 Accelerate Learning

Houston, Texas, United States

Accelerate Learning provides a variety of curriculum and professional development solutions for PreK-12 that support early learning, Next Generation Science Standards (NGSS), and state-aligned curriculum. Accelerate Learning was established in 2014 and is based in Houston, Texas.

Buy -