M&A Deal Summary |
|
|---|---|
| Date | 2003-12-18 |
| Target | Financial Guaranty Insurance |
| Sector | Financial Services |
| Buyer(s) |
The Blackstone Group
The Cypress Group CIVC Partners |
| Sellers(s) | General Electric |
| Deal Type | Divestiture |
| Deal Value | 2.2B USD |
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| Category | Private Equity Firm |
|---|---|
| Founded | 1987 |
| PE ASSETS | 131.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
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 City.
| DEAL STATS | # |
|---|---|
| Overall | 66 of 335 |
| Sector (Financial Services) | 2 of 16 |
| Type (Divestiture) | 5 of 33 |
| State (New York) | 5 of 22 |
| Country (United States) | 50 of 210 |
| Year (2003) | 6 of 6 |
| Size (of disclosed) | 54 of 171 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2003-12-03 |
Aspen Insurance Holdings
Hamilton, Bermuda Aspen Insurance Holdings is a provider of reinsurance and insurance coverage to clients in various domestic and global markets through wholly-owned subsidiaries and offices in Australia, Bermuda, Canada, Ireland, Singapore, Switzerland, the United Arab Emirates, the United Kingdom and the United States. Aspen Insurance Holdings was founded in 2002 and is based in Hamilton, Bermuda. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2004-01-01 |
Imperial Home Decor Group
Cleveland, Ohio, United States Imperial Home Décor manufactured residential wall coverings. |
Sell | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1989 |
| PE ASSETS | 4.0B USD |
| Size | Large |
| Type | Sector Agnostic |
The Cypress Group is a private equity firm that acquires businesses in a range of industries. Broad sectors of interest include consumer services, financial services, and manufacturing. The Cypress Group was formed in 1989 and is headquartered in New York, New York.
| DEAL STATS | # |
|---|---|
| Overall | 8 of 12 |
| Sector (Financial Services) | 1 of 1 |
| Type (Divestiture) | 1 of 2 |
| State (New York) | 1 of 2 |
| Country (United States) | 5 of 9 |
| Year (2003) | 1 of 1 |
| Size (of disclosed) | 1 of 7 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2002-07-04 |
Catlin Group
Hamilton, Bermuda Catlin Group Ltd. is a specialty insurance and reinsurance provider . Areas of expertise include Marine, Professional Indemnity, Aviation, Energy, and Industrial. Catlin's property catastrophe reinsurance and marine businesses are viewed as 'Best in Class' at Lloyd's. |
Buy | $532M |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2004-01-01 |
American Marketing Industries
Independence, Montana, United States American Marketing Industries Inc. manufactures and markets apparels. |
Sell | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1970 |
| PE ASSETS | 2.0B USD |
| Size | Large |
| Type | Sector Agnostic |
CIVC Partners is a private equity firm that provides buyout and growth capital to middle-market businesses located in the US and Canada. CIVC invests in companies generating sales of $40 - $300 million with an EBITDA of $5 to $25 million. Sectors of interest include Business Services, Information Services, Facility Services, Insurance Services, Transportation & Logistics, Tech-enabled Services, BPO, SaaS, Compliance Services, Corporate Training, IT Services, and Utility Services. The firm invests in the range of $20 - $100 million per transaction. CIVC prefers to be the lead equity sponsor and will consider both majority and minority investment situations. CIVC Partners was formed in 1970 and is based in Chicago, Illinois.
| DEAL STATS | # |
|---|---|
| Overall | 30 of 76 |
| Sector (Financial Services) | 4 of 10 |
| Type (Divestiture) | 1 of 2 |
| State (New York) | 2 of 4 |
| Country (United States) | 29 of 72 |
| Year (2003) | 3 of 3 |
| Size (of disclosed) | 1 of 4 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2003-04-04 |
RAM Reinsurance
Hamilton, Bermuda RAM Reinsurance Company Ltd. (RAM Re) was formed in February 1998 to take advantage of an increased emphasis of diversity of reinsurance sources by the "AAA/Aaa" rated financial guaranty primary insurers. The company has strong relationships with each of the four largest primaries and is developing relationships with the newer entrants in this market. |
Buy | $92M |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2004-02-12 |
Partners Equity Capital
Horsham, Pennsylvania, United States Partners Equity Capital Company, LLC (PECC), one of the fastest growing commercial equipment leasing finance companies in the United States. |
Buy | - |
| Category | Company |
|---|---|
| Founded | 1892 |
| Sector | Diversified |
| Employees | 205,000 |
| Revenue | 67.6B USD (2023) |
General Electric is a diversified technology and financial services corporation. Products and services range from aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing and industrial products. General Electric was founded in 1892 and is based in Boston, Massachusetts.
| DEAL STATS | # |
|---|---|
| Overall | 5 of 45 |
| Sector (Financial Services) | 2 of 9 |
| Type (Divestiture) | 5 of 38 |
| State (New York) | 2 of 3 |
| Country (United States) | 5 of 35 |
| Year (2003) | 2 of 2 |
| Size (of disclosed) | 6 of 22 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2003-10-10 |
Amersham
Chalfont St Giles, United Kingdom Amersham plc, headquartered in England, is a global provider of medical diagnostics and life science products. The company was formed in 1997 through the mergers of Amersham International (UK), Pharmacia Biotech (Sweden) and Nycomed (Norway). |
Buy | $9.5B |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2004-05-30 |
Genworth Financial
Richmond, Virginia, United States Genworth Financial, Inc. is a provider of individual and group long-term care insurance products to meet growing consumer needs for long-term care. The Company's life insurance products protect people during unexpected events. In the United States, retirement products include various types of annuity and guaranteed retirement income products. Genworth also facilitates homeownership in the United States and internationally by providing mortgage insurance products that allow people to purchase homes with low down payments while protecting lenders against the risk of default. Through homeownership education and assistance programs, Genworth also helps people keep their homes when they experience financial difficulties. |
Sell | - |
