M&A Deal Summary

Catalina Holdings Acquires Asia Capital Reinsurance Group

On December 5, 2019, Catalina Holdings acquired insurance company Asia Capital Reinsurance Group from 3i Private Equity and Morgan Stanley Private Equity Asia for 155M USD

Acquisition Highlights
  • This is Catalina Holdings’ 16th transaction in the Insurance sector.
  • This is Catalina Holdings’ 2nd largest (disclosed) transaction.
  • This is Catalina Holdings’ 1st transaction in Singapore.

M&A Deal Summary
Date 2019-12-05
Target Asia Capital Reinsurance Group
Sector Insurance
Buyer(s) Catalina Holdings
Sellers(s) 3i Private Equity
Morgan Stanley Private Equity Asia
Deal Type Add-on Acquisition
Deal Value 155M USD

Target

Asia Capital Reinsurance Group

Singapore, Singapore
Asia Capital Reinsurance Group is a non-life reinsurance group dedicated to serving clients in Asia. ACR focuses on large risk underwriting in specialist lines, including aviation, marine, energy, property, engineering, and casualty. ACR was founded in 2006 and is based in Singapore.

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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 16 of 16
Sector (Insurance) 16 of 16
Type (Add-on Acquisition) 8 of 8
Country (Singapore) 1 of 1
Year (2019) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-26 Downlands Liability Management

Worthing, United Kingdom

Downlands Liability Management Ltd. is a provider of full range of insurance services.

Buy -

Seller(S) 2

SELLER

3i Private Equity

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1945
PE ASSETS 16.7B GBP
Size Mega
Type Sector Agnostic
DESCRIPTION

3i Private Equity is the private equity arm of 3i Group, a publicly held, global investment firm focused on private equity and infrastructure investing. 3i Private Equity generally targets buyout and growth capital financings and looks for opportunities across Europe, North America, and Asia. The Firm's targeted transaction range is €100 to €500 million. Industries of interest include business services, healthcare, consumer, media, oil/gas & power, technology, and financial services. 3i Group was originally formed in 1945 and is based in London.

DEAL STATS #
Overall 188 of 194
Sector (Insurance) 3 of 3
Type (Add-on Acquisition) 58 of 61
Country (Singapore) 2 of 2
Year (2019) 2 of 3
Size (of disclosed) 47 of 78
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-19 Evernex

Paris, France

Evernex provides maintenance of global IT infrastructure and offers a comprehensive range of services from maintenance to Spare as a Service – SpaaS ™, as well as additional services such as recycling, secure data disposal, data center removal, and relocation, library repair, IT hardware rental, and financial solutions. Evernex was founded in 1983 and is based in Paris, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-18 Aspen Pumps

East Sussex, United Kingdom

Aspen Pumps engages in the design, manufacture, and distribution of mini pumps that remove condensate water from air conditioning and refrigeration systems. Aspen Pumps also sells a range of ancillary products for air conditioning installers and engineers. Aspen Pumps was founded in 1992 and is based in East Sussex, United Kingdom.

Sell -
SELLER

Morgan Stanley Private Equity Asia

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1993
Size Large
Type Sector Agnostic
DESCRIPTION

Morgan Stanley Private Equity Asia is a direct investment affiliate of Morgan Stanley that looks to acquire minority investments in companies with substantial business operations throughout Asia. The Unit has a preference for fast-growing businesses with strong brands and sustainable competitive advantages. In addition to minority deals, the Firm will also consider select control situations. Morgan Stanley Private Equity Asia was formed in 1993 and is headquartered in Hong Kong.

DEAL STATS #
Overall 5 of 8
Sector (Insurance) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (Singapore) 2 of 2
Year (2019) 3 of 3
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-14 Omni Remotes

Singapore, Singapore

Omni Remotes develops, manufactures, and sells remote control devices. Omni Remotes was founded in 1990 and is based in Singapore.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-08 ZCL Chemicals

Mumbai, India

ZCL Chemicals is one of the fastest-growing manufacturers of specialty active pharmaceutical ingredients (APIs) and advanced intermediates. ZCL’s highly specialized approach focuses on niche therapeutic areas, underpinned by complex chemistry, supported by a state-of-the-art U.S. Food and Drug Administration (FDA) approved facility, along with strong research & development capabilities. ZCL Chemicals is based in Mumbai, India.

Sell -
Mergr

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