M&A Deal Summary

Accredited Home Lenders Acquires Aames Investment

On May 25, 2006, Accredited Home Lenders acquired financial services company Aames Investment from Equifin Capital and Capital Z Partners

Acquisition Highlights
  • This is Accredited Home Lenders’ 1st transaction in the Financial Services sector.
  • This is Accredited Home Lenders’ 1st transaction in the United States.

M&A Deal Summary

Date 2006-05-25
Target Aames Investment
Sector Financial Services
Buyer(s) Accredited Home Lenders
Sellers(s) Equifin Capital
Capital Z Partners
Deal Type Add-on Acquisition
Advisor(s) Credit Suisse Investment Banking (Financial)
Sullivan & Cromwell (Legal)

Target

Aames Investment

Los Angele, United States
Aames originates mortgage loans in 47 states. Aames Financial is a 50-year-old national mortgage banking company focused primarily on originating non-prime residential mortgage loans through wholesale and retail channels under the name "Aames Home Loan

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Buyer(S) 1

Buyer

Accredited Home Lenders

San Diego, California, United States

Category Company
Sector Financial Services
DESCRIPTION

Accredited Home Lenders is a provider of finances, securitizes, services, and sells nonprime mortgage loans secured by residential real estate.


DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
Country: United States M&A 1 of 1
Year: 2006 M&A 1 of 1

Seller(S) 2

SELLER

Equifin Capital

Madison, New Jersey, United States

Category Private Equity Firm
PE ASSETS 450M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Equifin Capital is a specialist private equity firm focused on the financial services sector. Areas of interest include consumer finance, commercial finance, capital asset management, and other areas of the financial services sector. Equifin looks to support portfolio acquisitions, growth capital financings, corporate spin-outs and take privates, as well as turnarounds. Equifin Capital is based in New York City.


DEAL STATS #
Overall 2 of 4
Sector: Financial Services M&A 1 of 3
Type: Add-on Acquisition M&A Deals 1 of 2
Country: United States M&A 2 of 4
Year: 2006 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-02-14 Flagship Credit

Chadds Ford, Pennsylvania, United States

Flagship Credit Corporation is a national indirect automobile finance company which purchases retail installment contracts from dealers financing to non-prime consumers for purchases of new and late model used vehicles. The Company is headquartered in Chadds Ford, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-17 RCS

Fort Worth, Texas, United States

RCS is a provider of mortgage solutions to the mortgage industry. It also offers customized mortgage refinance programs. The company was founded in 2006 and is based in Fort Worth, Texas.

Buy -
SELLER

Capital Z Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1990
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Capital Z Partners is a private equity firm focused on the financial services sector. The Firm targets companies in the US, Bermuda, and the UK and looks to commit $25 to $100 million as a primary or co-investor partner. Specific areas of interest include insurance (property, life, health, reinsurance, and specialty markets), services (insurance distribution, claims management, asset servicing, and outsourced service providers), specialty finance (commercial finance, consumer finance, banks, and leasing), and securities (fund management, broker-dealers, and wealth management). Capital Z Partners was established in 1990 and is headquartered in New York City.


DEAL STATS #
Overall 1 of 8
Sector: Financial Services M&A 1 of 4
Type: Add-on Acquisition M&A Deals 1 of 3
Country: United States M&A 1 of 6
Year: 2006 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-21 NewStar Financial

Boston, Massachusetts, United States

NewStar Financial, Inc. is an internally-managed, commercial finance company with $7.3 billion of assets managed across two complementary business lines — middle market direct lending and asset management. The Company's direct lending activities are focused on meeting the complex financing needs of companies and private investors in the middle markets through specialized lending groups that offer a range of flexible debt financing options. Credit investments are originated directly through teams of experienced, senior bankers and marketing officers organized around key industry and market segments. Through its asset management platforms, NewStar offers a range of investment products employing credit-oriented strategies focused on middle market loans and liquid, tradeable credit.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-15 NewStar Financial

Boston, Massachusetts, United States

NewStar Financial, Inc. is an internally-managed, commercial finance company with $7.3 billion of assets managed across two complementary business lines — middle market direct lending and asset management. The Company's direct lending activities are focused on meeting the complex financing needs of companies and private investors in the middle markets through specialized lending groups that offer a range of flexible debt financing options. Credit investments are originated directly through teams of experienced, senior bankers and marketing officers organized around key industry and market segments. Through its asset management platforms, NewStar offers a range of investment products employing credit-oriented strategies focused on middle market loans and liquid, tradeable credit.

Sell -