M&A Deal Summary

AmeriTrust Group Acquires Procentury

On February 21, 2008, AmeriTrust Group acquired insurance company Procentury from Stonehenge Partners for 273M USD

Acquisition Highlights
  • This is AmeriTrust Group’s 2nd transaction in the Insurance sector.
  • This is AmeriTrust Group’s largest (disclosed) transaction.
  • This is AmeriTrust Group’s 3rd transaction in the United States.
  • This is AmeriTrust Group’s 2nd transaction in Ohio.

M&A Deal Summary

Date 2008-02-21
Target Procentury
Sector Insurance
Buyer(s) AmeriTrust Group
Sellers(s) Stonehenge Partners
Deal Type Add-on Acquisition
Deal Value 273M USD

Target

Procentury

Columbus, Ohio, United States
Procentury Corp. provides Property & Casualty Insurance services.

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Buyer(S) 1

Buyer

AmeriTrust Group

Southfield, Michigan, United States

Category Company
Founded 1955
Sector Insurance
Employees904
Revenue 742M USD (2014)
DESCRIPTION

AmeriTrust Group is a provider of specialty risk management solutions for agents, professional and trade associations, and small to medium-sized insureds. Meadowbrook includes several agencies, claims and loss prevention facilities, self-insured management organizations, and six property and casualty insurance underwriting companies. AmeriTrust Group was founded in 1955 and is based in Southfield, Michigan.


DEAL STATS #
Overall 3 of 5
Sector (Insurance) 2 of 4
Type (Add-on Acquisition) 3 of 5
State (Ohio) 2 of 2
Country (United States) 3 of 5
Year (2008) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-17 U.S. Specialty Underwriters

Mayfield Heights, Ohio, United States

USSU serves as a Underwriters to a wide variety of client groups including school districts, universities, health care systems, manufacturing, restaurants and retail chains.

Buy $23M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-19 Mackinaw Administrators

Brighton, Michigan, United States

Mackinaw Administrators LLC is a provider of tailored insurance and risk management programs and other related services for both group and individual clients.

Buy -

Seller(S) 1

SELLER

Stonehenge Partners

Columbus, Ohio, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1999
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Stonehenge Partners is a private equity firm that seeks equity and mezzanine investments in lower middle-market companies with at least $10 million in sales. Stonehenge looks to invest ranging from $10 million to $50 million of equity/junior capital to support management buyouts, leveraged acquisitions, recapitalizations, and growth capital financings. Stonehenge prefers businesses operating in manufacturing, distribution, business services and healthcare. Stonehenge avoids investing in real estate, oil and gas, high technology and 'industries that are susceptible to a high degree of cyclicality'. Stonehenge was formed in 1999 and is based in Columbus, Ohio.


DEAL STATS #
Overall 11 of 38
Sector (Insurance) 1 of 1
Type (Add-on Acquisition) 6 of 17
State (Ohio) 4 of 8
Country (United States) 11 of 37
Year (2008) 1 of 2
Size (of disclosed) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-01 Microdynamics Group

Naperville, Illinois, United States

Microdynamics Group is a Chicago-based national provider of personalized transactional printing, inserting, and mailing services. Clients include a wide variety of financial institutions, credit unions, commercial and industrial enterprises, health care, and utility companies.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-21 Biotronic NeuroNetwork

Ann Arbor, Michigan, United States

Biotronic NeuroNetwork LLC is a patient centric healthcare organization that provides intraoperative neurophysiological monitoring services to surgeons and healthcare facilities across the U.S.

Buy -