M&A Deal Summary

New Mountain Capital and American Capital Acquire AmWINS

On April 7, 2012, private equity firms New Mountain Capital and American Capital acquired insurance company AmWINS for 1.3B USD

Acquisition Highlights
  • This is New Mountain Capital’s 4th and American Capital’s 1st transaction in the Insurance sector.
  • This is New Mountain Capital’s 5th and American Capital’s largest (disclosed) transaction.
  • This is New Mountain Capital’s 22nd and American Capital’s 243rd transaction in the United States.
  • This is New Mountain Capital’s 2nd and American Capital’s 4th transaction in North Carolina.
Investment Fate
  • AmWINS was recapitalized in 2012 for 1.3B USD.
  • AmWINS was sold to a consortium of financial buyers in 2016.

M&A Deal Summary
Date 2012-04-07
Target AmWINS
Sector Insurance
Buyer(s) New Mountain Capital
American Capital
Deal Type Recapitalization
Deal Value 1.3B USD
Advisor(s) Financial Technology Partners
Goldman Sachs
Willis Capital Markets & Advisory (Financial)

Target

AmWINS

Charlotte, North Carolina, United States
AmWINS is a distributor of insurance products, provides property and casualty products, group insurance programs, and administrative services to retail insurance agents. It provides brokerage services in the areas of property, casualty, financial risk, auto, construction, environmental, healthcare, life sciences, and public entity. AmWINS was founded in 1998 and is based in Charlotte, North Carolina.

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Buyer(S) 2

Buyer

New Mountain Capital

New York, New York, United States
Category Private Equity Firm
Founded 2000
PE ASSETS 35.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

New Mountain Capital is a private investment firm focused on investment in public and private companies in a variety of industries. New Mountain generally invests $100 to $500 million per transaction and looks for businesses with strong market positions and high barriers to entry. New Mountain also prefers businesses that succeed in both good and bad economies. Sectors of interest include education, healthcare, business services, federal IT services, media, software, consumer products, logistics, financial services and technologies, and energy. New Mountain Capital was formed in 2000 and is based in New York City.

DEAL STATS #
Overall 25 of 95
Sector (Insurance) 4 of 6
Type (Recapitalization) 2 of 6
State (North Carolina) 2 of 3
Country (United States) 22 of 90
Year (2012) 1 of 2
Size (of disclosed) 5 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-03 Connextions

Orlando, Florida, United States

Connextions, Inc. is a pre-eminent technology and business services partner to the health care industry, helps carriers, providers, employers and other leading firms maximize revenue and increase efficiencies by optimizing customer experience. Connextions was formed in 1996 and is based in Orlando, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-03 EverBank

Jacksonville, Florida, United States

EverBank provides full-service, nationwide banking and lending services to consumer, commercial and institutional clients through a variety of channels, including online, its Florida-based financial centers and at other business offices throughout the country. EverBank is based in Jacksonville, Florida.

Sell -
Buyer

American Capital

Category Private Equity Firm
Founded 1997
PE ASSETS 22.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Capital was a publicly traded buyout and mezzanine investment firm. American Capital invested in buyouts, growth capital financings, acquistion financings, and recapitalizations. The Firm looked to finance businesses with at least $4 million in EBITDA and valued between $20 and $500 million. American Capital ws a generalist firm with broad interest in traditional industries such as manufacturing, distribution, and services. American Capital's European investment affiliate is European Capital. European Capital looked to invest $10 to $600 million of equity, mezzanine, and/or senior debt in similar opportunities across Europe. American Capital was formed in 1997 and in January 2017, merged with Ares Capital Management.

DEAL STATS #
Overall 255 of 265
Sector (Insurance) 1 of 1
Type (Recapitalization) 20 of 21
State (North Carolina) 4 of 4
Country (United States) 243 of 253
Year (2012) 1 of 3
Size (of disclosed) 1 of 49
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-10 Phillips & Temro

Eden Prairie, Minnesota, United States

Phillips & Temro is a supplier of highly engineered diesel and gasoline engine components with an emerging presence in electric and hybrid electric vehicle platforms. Phillips & Temro was founded in 1920 and is based in Eden Prairie, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-23 Algoma Hardwoods

Algoma, Wisconsin, United States

Algoma Hardwoods is a leading manufacturer of architectural wood doors for commercial construction, with primary usage in new construction and remodeling of office buildings, medical buildings, stadiums and high-rise condos. The company is headquartered in Algoma, WI and has a second manufacturing facility in Jefferson City, TN.

Sell -
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