M&A Deal Summary

Centerbridge Partners Acquires Canopius

On September 1, 2017, asset manager Centerbridge Partners acquired insurance company Canopius from Sompo Japan Nipponkoa Insurance for 952M USD

Acquisition Highlights
  • This is Centerbridge Partners’ 1st transaction in the Insurance sector.
  • This is Centerbridge Partners’ 7th largest (disclosed) transaction.
  • This is Centerbridge Partners’ 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2017-09-01
Target Canopius
Sector Insurance
Buyer(s) Centerbridge Partners
Sellers(s) Sompo Japan Nipponkoa Insurance
Deal Type Divestiture
Deal Value 952M USD

Target

Canopius

London, United Kingdom
Canopius is a general insurance company operating in the Lloyd's insurance market in London. The Company also has underwriting platforms as well as various service companies. Canopius underwrites primarily short-tail property risks and some casualty risks with an underwriting premium capacity. Canopius was founded in 2003 and is based in London, United Kingdom.

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Buyer(S) 1

Buyer

Centerbridge Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2005
PE ASSETS 38.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Centerbridge Partners is a mega-sized private equity firm focused primarily on distressed/special situations in North America and Europe. In addition to making control investments, Centerbridge also maintains funds for non-control credit investments. Centerbridge was formed in 2005 and is based in New York City.


DEAL STATS #
Overall 31 of 50
Sector: Insurance M&A 1 of 3
Type: Divestiture M&A Deals 2 of 3
Country: United Kingdom M&A 1 of 2
Year: 2017 M&A 6 of 6
Size (of disclosed) 7 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-01 TriMark

Mansfield, Massachusetts, United States

TriMark is a full service distributor of food service equipment and supplies and a provider of design and engineering services to over 10,000 customers nationwide, including restaurant, healthcare, entertainment, and other food service venues and facilities. TriMark was founded in 1998 and is based in Mansfield, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-01 Superior Vision

Rancho Cordova, California, United States

Superior Vision is a provider of vision and eye health solutions to the full spectrum of the vision care marketplace, including groups, health plans and government-sponsored programs. Company care for clients and members by delivering broad and affordable access to vision care, outstanding service and resources to help them make informed vision care choices that offer the greatest value. Superior Vision was founded in 1993 and is based in Rancho Cordova, California.

Sell -

Seller(S) 1

SELLER

Sompo Japan Nipponkoa Insurance

Tokyo, Japan

Category Company
Sector Insurance
DESCRIPTION

Sompo Japan Insurance Inc., one of the largest insurance companies in Japan.


DEAL STATS #
Overall 1 of 1
Sector: Insurance M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
Country: United Kingdom M&A 1 of 1
Year: 2017 M&A 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-01 Canopius

London, United Kingdom

Canopius is a general insurance company operating in the Lloyd's insurance market in London. The Company also has underwriting platforms as well as various service companies. Canopius underwrites primarily short-tail property risks and some casualty risks with an underwriting premium capacity. Canopius was founded in 2003 and is based in London, United Kingdom.

Buy -