M&A Deal Summary

Catalina Holdings Acquires Alea Group Holdings Bermuda

On September 18, 2013, Catalina Holdings acquired insurance company Alea Group Holdings Bermuda from PCG Capital Partners and Fortress

Acquisition Highlights
  • This is Catalina Holdings’ 8th transaction in the Insurance sector.
  • This is Catalina Holdings’ 3rd transaction in Bermuda.

M&A Deal Summary
Date 2013-09-18
Target Alea Group Holdings Bermuda
Sector Insurance
Buyer(s) Catalina Holdings
Sellers(s) PCG Capital Partners
Fortress
Deal Type Add-on Acquisition
Advisor(s) Willis Capital Markets & Advisory (Financial)
Willkie Farr & Gallagher (Legal)

Target

Alea Group Holdings Bermuda

Hamilton, Bermuda
Alea is a worldwide provider of reinsurance, insurance, financial, and alternative risk products headquartered in Hamilton, Bermuda.

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Buyer(S) 1

Buyer

Catalina Holdings

Hamilton, Bermuda
Category Company
Founded 2005
Sector Insurance
DESCRIPTION

Catalina Holdings is a Bermuda-based holding company that is licensed as a Class IV reinsurance company. Catalina Holdings was founded in 2005 and is based in Hamilton, Bermuda.

DEAL STATS #
Overall 8 of 16
Sector (Insurance) 8 of 16
Type (Add-on Acquisition) 6 of 8
Country (Bermuda) 3 of 3
Year (2013) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-15 HSBC Reinsurance

Dublin,, Ireland

HSBC Reinsurance Limited is engaged in underwriting the proportional reinsurance treaties covering creditor, household, and travel risks related to banc assurance risks in the UK and Europe.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-25 SPARTA Insurance Holdings

Hartford, Connecticut, United States

SPARTA Insurance Holdings, Inc. provides property and casualty insurance for specialty and alternative risk programs.

Buy -

Seller(S) 2

SELLER

PCG Capital Partners

La Jolla, California, United States
Category Private Equity Firm
Founded 1993
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

PCG Capital Partners (PCG) is the direct private equity investment arm of the Pacific Corporate Group, an investment firm that also manages private equity fund investments. PCG provides non-control equity capital to help fund growth initiatives at both public and private companies. Sectors of interest span business services, consumer, energy, financial services, healthcare, industrial, and communications. PCG looks to commit between $15 and $75 million of capital per transaction. The Firm's geographic preference is for North American based opportunities. PCG was formed in 1993 and is based in La Jolla, California.

DEAL STATS #
Overall 3 of 3
Sector (Insurance) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (Bermuda) 1 of 1
Year (2013) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-06 Allied Resource

Wayne, Pennsylvania, United States

Allied Resource is a climate technology group operating and servicing energy-related businesses worldwide. The company's operations are based on proprietary technologies for the production of synthetic natural gas from coal, reduction of CO2, NOx and sulfur emissions, the refining of waste oils into high-quality oil products, the treatment of industrial wastewater and the incineration of sludge and pelletized residues. Allied Resource was formed in 1994 and is based in Wayne, Pennsylvania.

Buy -
SELLER

Fortress

New York, New York, United States
Category Asset Manager
Founded 1998
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Fortress is a public investment firm that manages hedge fund, credit, and private equity investments. Fortress' private equity practice primarily makes control-oriented investments in North American and Western European businesses with significant asset-bases and strong cash-flows. Fortress is open to investing in a wide range of sectors, however the Firm has tended towards capital intensive sectors. These include transportation, financials, senior living/healthcare, real estate, media & telecommunications, leisure and energy infrastructure. The pivate equity group also invests in publicly traded alternative investment vehicles, which Fortress refers to as 'castles' that primarily invest in real estate and real estate related debt. Fortress was formed in 1998 and is based in New York City.

DEAL STATS #
Overall 14 of 25
Sector (Insurance) 1 of 1
Type (Add-on Acquisition) 5 of 9
Country (Bermuda) 1 of 1
Year (2013) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-08 CW Financial Services

Needham, Massachusetts, United States

CW Financial Services is a vertically integrated commercial real estate debt platform offering a full range of products and services including multifamily lending, primary servicing, special servicing, consulting and investment management. The special servicing unit is the second largest special servicer of commercial real estate loans in the US. CW Financial Services is based in Needham, Massachusetts.

Sell $220M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-16 OneMain Financial

Evansville, Indiana, United States

OneMain Financial is a consumer finance company focused on providing loan products to customers through a nationwide branch network and internet lending platform. OneMain Financial was founded in 1912 and is based in Evansville, Indiana.

Sell -
Mergr

Product

Company

Legal