M&A Deal Summary

AFCO Credit Acquires Cananwill

On January 9, 2009, AFCO Credit acquired financial services company Cananwill from Aon

Acquisition Highlights
  • This is AFCO Credit’s 1st transaction in the Financial Services sector.
  • This is AFCO Credit’s 1st transaction in the United States.
  • This is AFCO Credit’s 1st transaction in Pennsylvania.

M&A Deal Summary

Date 2009-01-09
Target Cananwill
Sector Financial Services
Buyer(s) AFCO Credit
Sellers(s) Aon
Deal Type Divestiture
Advisor(s) Colonnade Advisors (Financial)

Target

Cananwill

Philadelphia, Pennsylvania, United States
Cananwill, Inc. is a provider of insurance premium financing for commercial property and casualty policies.

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Buyer(S) 1

Buyer

AFCO Credit

New York, New York, United States

Category Company
Founded 1954
Sector Financial Services
DESCRIPTION

AFCO Credit Corp. is a provider in premium finance solutions for clients large and small, AFCO offers progressive solutions for lasting relationships.


DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Pennsylvania M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2009 M&A 1 of 1

Seller(S) 1

SELLER

Aon

Dublin , Ireland

Category Company
Founded 1919
Sector Insurance
Employees60,000
Revenue 15.7B USD (2024)
DESCRIPTION
Aon's offices in downtown Sydney, Australia.
Aon's offices in downtown Sydney, Australia.

Aon is a provider of risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing. Aon serves clients through two segments, Risk Solutions and HR Solutions. Risk Solutions acts as an advisor and insurance and reinsurance broker, helping clients manage their risks via consultation, as well as negotiation and placement of insurance risk with insurance carriers through our global distribution network. HR Solutions partners with organizations to solve their most complex benefits, talent and related financial challenges, and improve business performance by designing, implementing, communicating and administering a wide range of human capital, retirement, investment consulting, health care, compensation and talent management strategies. Aon was founded in 1919 and is based in Dublin, Ireland.


DEAL STATS #
Overall 6 of 23
Sector: Financial Services M&A 2 of 5
Type: Divestiture M&A Deals 6 of 23
State: Pennsylvania M&A 1 of 1
Country: United States M&A 4 of 14
Year: 2009 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-09 Supercover Holdings

Wakefield, United Kingdom

Supercover is a well-established UK based niche licensed trade insurance broker arranging specialist insurance schemes and services for pubs and clubs in addition to other categories within the licensed trade such as hotels, night clubs, restaurants and bingo halls.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-07-01 Cananwill Australia Pty

United States

Cananwill Australia Pty Ltd. is a provider of insurance premium financing for commercial property and casualty policies.

Sell -