M&A Deal Summary

Barclays Bank UK Acquires Kensington Mortgages

On June 24, 2022, Barclays Bank UK acquired financial services company Kensington Mortgages from The Blackstone Group for 2.3B GBP

Acquisition Highlights
  • This is Barclays Bank UK’s 1st transaction in the Financial Services sector.
  • This is Barclays Bank UK’s largest (disclosed) transaction.
  • This is Barclays Bank UK’s 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2022-06-24
Target Kensington Mortgages
Sector Financial Services
Buyer(s) Barclays Bank UK
Sellers(s) The Blackstone Group
Deal Type Add-on Acquisition
Deal Value 2.3B GBP

Target

Kensington Mortgages

Maidenhead, United Kingdom
Kensington Mortgages is a specialist residential mortgage lender providing mortgages via brokers to borrowers with complex incomes. It uses proprietary technology, data analytics, and insight to design products and make lending decisions, focusing on the self-employed and customers who have multiple or variable incomes. Kensington Mortgage was formed in 1994 and is based in North Yorkshire.

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Buyer(S) 1

Buyer

Barclays Bank UK

London, United Kingdom

Category Company
Sector Financial Services
DESCRIPTION

Barclays Bank UK helps people in moving forward in the digital age through Digital Eagles, to getting them started in their first home with one of its mortgages. From helping them realize their business dreams to supporting young people as they make their first, sure move into the adult world through Life Skills. The company embraces data, innovation, and every possibility the digital world presents. Barclays Bank UK is based in London.


DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (United Kingdom) 1 of 1
Year (2022) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York, New York.


DEAL STATS #
Overall 165 of 173
Sector (Financial Services) 9 of 9
Type (Add-on Acquisition) 64 of 67
Country (United Kingdom) 15 of 17
Year (2022) 5 of 9
Size (of disclosed) 13 of 57
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-10 Advarra

Columbia, Maryland, United States

Advarra is a provider of IRB, IBC, and compliance consulting services in North America. Fully accredited by AAHRPP, the company serves pharmaceutical, biotechnology, and medical device research sponsors and contract research organizations (CROs), as well as academic medical centers, hospital systems, investigative site networks, and patient advocacy groups. Advarra was founded in 1983 and is based in Columbia, Maryland.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-06 Xpansiv

New York, New York, United States

Xpansiv is the premier market infrastructure platform for global carbon and environmental commodities. Xpansiv connects buyers and sellers of environmental commodities and provides market data for voluntary carbon offsets, renewable energy credits (RECs), and low-carbon fuels, each of which is critical elements of global decarbonization. Xpansiv was founded in 2016 and is based in New York City.

Buy -