M&A Deal Summary

CenterState Bank Acquires Harbor Community Bank

On January 2, 2018, CenterState Bank acquired financial services company Harbor Community Bank from Kelso and Stone Point Capital

Acquisition Highlights
  • This is CenterState Bank’s 10th transaction in the Financial Services sector.
  • This is CenterState Bank’s 10th transaction in the United States.
  • This is CenterState Bank’s 10th transaction in Florida.

M&A Deal Summary

Date 2018-01-02
Target Harbor Community Bank
Sector Financial Services
Buyer(s) CenterState Bank
Sellers(s) Kelso
Stone Point Capital
Deal Type Add-on Acquisition

Target

Harbor Community Bank

Indiantown, Florida, United States
Harbor Community Bank is a bank holding company that was established by veteran Florida bankers to build a strong community banking franchise along the east coast of Florida. Harbor Community Bank was founded in 2010 and is based in Indiantown, Florida.

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Buyer(S) 1

Buyer

CenterState Bank

Winter Haven, Florida, United States

Category Company
Founded 1999
Sector Financial Services
Employees2,113
Revenue 747M USD (2019)
DESCRIPTION

CenterState Bank is a provider of consumer and commercial banking services to individuals, businesses, and industries. CenterState Bank was established in 1999 and is based in Davenport, Florida.


DEAL STATS #
Overall 10 of 12
Sector: Financial Services M&A 10 of 12
Type: Add-on Acquisition M&A Deals 9 of 11
State: Florida M&A 10 of 10
Country: United States M&A 10 of 12
Year: 2018 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-14 Sunshine Bancorp.

Plant City, Florida, United States

Sunshine Bancorp. is a provider of financial services to individuals, families and businesses primarily located in Hillsborough, Orange, Pasco, and Polk Counties, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-24 Charter Financial

West Point, Georgia, United States

Charter Financial Corp. is a provider of financial services. Charter Financial was founded in 1954 and is based in West Point, Georgia.

Buy $360M

Seller(S) 2

SELLER

Kelso

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1971
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kelso & Company is a private equity and investment management firm that seeks control investments in middle-market companies operating primarily throughout the US. Sectors of interest include manufacturing, communications, media, distribution, service, consumer products, retail, healthcare, transportation, logistics, textiles, & apparel, chemicals, and energy. Kelso looks to align 'management's interest with those of investors' when considering opportunities. Kelso & Company was formed in 1971 and is based in New York City.


DEAL STATS #
Overall 32 of 54
Sector: Financial Services M&A 1 of 3
Type: Add-on Acquisition M&A Deals 15 of 25
State: Florida M&A 3 of 7
Country: United States M&A 27 of 47
Year: 2018 M&A 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-07 Sentinel Data Centers

New York, New York, United States

Sentinel Data Centers, LLC develops and operates highly fault tolerant data centers for internal data processing and disaster recovery purposes.

Sell $490M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-10 Elara Caring

Dallas, Texas, United States

Elara Caring is a provider of home-based care with a national presence across the Northeast, Midwest, and Southwest. It supports patients through the post-acute care journey by delivering the appropriate level of care wherever patients call home. Elara Caring was founded in 1975 and is based in Dallas, Texas.

Buy -
SELLER

Stone Point Capital

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 55.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Stone Point Capital is a private equity firm that targets investments in financial services sector. Specific areas of interest include insurance underwriting, outsourcing service providers to financial institutions, specialty lending and other credit opportunities, employee benefits and healthcare, asset management/retirement savings, and banking/depository institutions. Stone Point looks to commit between $75 and $750 million of equity per transaction and will consider control or substantial minority positions. Geographic areas of interest include North America and Europe. Stone Point Capital was formed in 1994 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 35 of 59
Sector: Financial Services M&A 12 of 21
Type: Add-on Acquisition M&A Deals 16 of 30
State: Florida M&A 2 of 3
Country: United States M&A 30 of 53
Year: 2018 M&A 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-01 Kroll

New York, New York, United States

Kroll is an independent financial advisory and investment banking firm, offering a broad range of consulting and advisory services to public and private companies. Kroll was founded in 1932 and is based in New York, New York.

Sell $1.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-09 Genex

Wayne, Pennsylvania, United States

Genex is the trusted provider of managed care services enabling clients to transform their bottom lines while enhancing the lives of injured and disabled workers. The company serves the top underwriters of workers’ compensation, automobile, disability insurance, third-party administrators, and a significant number of Fortune 500 employers. In addition, Genex is the only company that delivers high-quality clinical services enhanced by intelligent systems and 360-degree data analysis. The company consistently drives superior results related to medical, wage loss, and productivity costs associated with claims in the workers’ compensation, disability, automobile, and health care systems. Genex was formed in 1978 and is based in Wayne, Pennsylvania.

Buy -