M&A Deal Summary

Avenue Capital Group Acquires Castlehaven Finance

On August 23, 2019, asset manager Avenue Capital Group acquired financial services company Castlehaven Finance from Pollen Street Capital for 250M EUR

Acquisition Highlights
  • This is Avenue Capital Group’s 2nd transaction in the Financial Services sector.
  • This is Avenue Capital Group’s 0th largest (disclosed) transaction.
  • This is Avenue Capital Group’s 1st transaction in Ireland.

M&A Deal Summary

Date 2019-08-23
Target Castlehaven Finance
Sector Financial Services
Buyer(s) Avenue Capital Group
Sellers(s) Pollen Street Capital
Deal Type Secondary Buyout
Deal Value 250M EUR

Target

Castlehaven Finance

Dublin, Ireland
Castlehaven Finance is a provider of development and bridging finance for residential projects in Ireland. The company has lent more than €584.4 million across multiple sites, facilitating the construction of more than 3,500 residential units. The company offers the highest level of industry knowledge and decisive, reliable loan opportunities. Castlehaven Finance was formed in 2014 and is based in Dublin, Ireland.

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Buyer(S) 1

Buyer

Avenue Capital Group

New York, New York, United States

Category Asset Manager
Founded 1995
PE ASSETS 13.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Avenue Capital Group is a private investment firm focused on acquiring a range of public and private securities. Avenue will consider opportunities throughout the US, Europe, and Asia and generally targets distressed assets, including businesses undergoing turnarounds, bankruptcy, reorganizations, and liquidations. Avenue was formed in 1995 and is based in New York City.


DEAL STATS #
Overall 9 of 9
Sector: Financial Services M&A 2 of 2
Type: Secondary Buyout M&A Deals 2 of 2
Country: Ireland M&A 1 of 1
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-05 Selcom Group

Bologna, Italy

Selcom Group is an Italian company in the engineering, industrialisation and production of electronic components for all types of applications (automotive, telecommunication, industrial automation). Selcom Group was founded in 1979 and is based in Bologna, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-27 Punj Lloyd

Gurugram , India

Punj Lloyd is an engineering, procurement, and construction companies with a strong track record of executing complex, high value, oil and gas and civil infrastructure projects in South Asia, the Middle East, Asia Pacific, Africa, and the Caspian region. Punj Lloyd was founded in 1988 and is headquartered in Gurugram, Haryana.

Sell -

Seller(S) 1

SELLER

Pollen Street Capital

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2013
PE ASSETS 2.7B GBP
Size Large
Type Sector Focused
DESCRIPTION

Pollen Street Capital is an asset management and private equity firm focused on acquiring and investing in financial and business services companies. The Firm is a hands-on investor and looks to work with management teams in building company value and driving growth. Pollen Street Capital was formed in 2013 and is headquartered in London, England.


DEAL STATS #
Overall 5 of 9
Sector: Financial Services M&A 4 of 6
Type: Secondary Buyout M&A Deals 2 of 3
Country: Ireland M&A 1 of 2
Year: 2019 M&A 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-30 Miles Smith Insurance Group

London, United Kingdom

Miles Smith Insurance Group is a broking and MGA business offering specialised insurance solutions to UK SMEs through the placement of policies in the Lloyds and London markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-20 Kingswood Holdings

London, United Kingdom

Kingswood Holdings is an international wealth manager offering bespoke wealth planning and investment management solutions to over 16,000 clients. Kingswood empowers its advisers to provide high-quality financial advice to their clients in a suitable and sustainable manner through the provision of best-in-class technology, a wide range of central support functions and a broad and diverse discretionary investment management offering. Kingswood Holdings was founded in 1997 and is based in London, United Kingdom.

Buy -