M&A Deal Summary

Aquiline Capital Partners Acquires Quicken

On September 9, 2021, private equity firm Aquiline Capital Partners acquired software company Quicken from H.I.G. Private Equity

Acquisition Highlights
  • This is Aquiline Capital Partners’ 10th transaction in the Software sector.
  • This is Aquiline Capital Partners’ 45th transaction in the United States.
  • This is Aquiline Capital Partners’ 12th transaction in California.

M&A Deal Summary
Date 2021-09-09
Target Quicken
Sector Software
Buyer(s) Aquiline Capital Partners
Sellers(s) H.I.G. Private Equity
Deal Type Secondary Buyout
Advisor(s) Jefferies (Financial)

Target

Quicken

Menlo Park, California, United States
Quicken provides personal money management software. Quicken remains committed to helping individuals and families improve their financial lives. The Quicken product line includes solutions for Mac and Windows users, as well as a mobile app to give consumers anytime, anywhere access to their finances. Quicken was founded in 1983 and is based in Menlo Park, California.

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Buyer(S) 1

Buyer

Aquiline Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 10.4B USD
Size Mega
Type Sector Focused
DESCRIPTION

Aquiline Capital Partners is a private equity firm that targets investments in the financial services sector. The Firm specifically invests in risk-bearing and services enterprises in industries such as property and casualty insurance, specialty finance, securities, asset management, life insurance and transaction processing. Aquiline Capital was formed in 2005 and is based in New York City.

DEAL STATS #
Overall 60 of 72
Sector (Software) 10 of 13
Type (Secondary Buyout) 13 of 17
State (California) 12 of 13
Country (United States) 45 of 53
Year (2021) 9 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-03 Hippo Insurance Services

Palo Alto, California, United States

Hippo Insurance Services is a provider of insurance services. Hippo allows homeowners to get a quote and purchase home insurance online in 60 seconds or less, save up to 25 percent compared with traditional insurers, and obtain smarter coverage for modern households. Hippo Insurance Services was founded in 2015 and is based in Palo Alto, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-01 Ripe Insurance

Manchester, United Kingdom

Ripe Insurance is a digital insurance distribution and underwriting platform with over 285,000 policy holders. Ripe’s policies protects specialised needs across golf, boats, caravans, and cycles, as well as providing insurance to small business owners such as personal trainers, musicians, and photographers. Ripe Insurance was founded in 1997 and is based in Manchester, United Kingdom.

Buy -

Seller(S) 1

SELLER

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital LLC. The firm focuses on management buyouts, growth equity investments, and recapitalizations of middle market companies with an enterprise value of $50 - $1000 million. The Firm also will consider add-on acquisitions, industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 and has offices in Miami, Atlanta, Boston, and San Francisco. HIG's European affiliate is HIG Europe with offices in London, Hamburg, and Paris.

DEAL STATS #
Overall 137 of 175
Sector (Software) 4 of 5
Type (Secondary Buyout) 51 of 71
State (California) 9 of 13
Country (United States) 98 of 120
Year (2021) 14 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-01 Jackson Paper Manufacturing

Sylva, North Carolina, United States

Jackson Paper Manufacturing specializes in the manufacturing of 100% recycled medium, corrugated sheets, and digitally printed corrugated packaging. JPM’s diverse customer base serves eCommerce, food, and beverage, durable and non-durable good end markets throughout the Southeastern United States. The Company operates four state-of-the-art facilities to deliver consistent quality, unrivaled lead times, and a high-touch service model which supports customized solutions. Jackson Paper Manufacturing was founded in 1995 and is based in Sylva, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-24 Aspire

Petersfield, United Kingdom

Aspire licenses and develops niche generic and specialty pharmaceutical products that offer innovative formulations, value for money for payors, and reliable supply arrangements in markets that are often underserved. The business holds leadership positions in urology, ophthalmology, CNS and dermatology, with a highly diversified portfolio of more than 250 products across multiple categories, including branded specialty products and unbranded niche generics. Aspire was founded in 2009 and is based in Petersfield, United Kingdom.

Buy -
Mergr

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