M&A Deal Summary

Clearlake Capital Acquires Whitestar Asset Management

On June 24, 2020, private equity firm Clearlake Capital acquired financial services company Whitestar Asset Management from Pine Brook Partners

Acquisition Highlights
  • This is Clearlake Capital’s 1st transaction in the Financial Services sector.
  • This is Clearlake Capital’s 58th transaction in the United States.
  • This is Clearlake Capital’s 11th transaction in Texas.

M&A Deal Summary

Date 2020-06-24
Target Whitestar Asset Management
Sector Financial Services
Buyer(s) Clearlake Capital
Sellers(s) Pine Brook Partners
Deal Type Secondary Buyout

Target

Whitestar Asset Management

Dallas, Texas, United States
Whitestar Asset Management is a credit-focused investment management firm, with an emphasis on managing and providing other services with respect to CLOs and related credit securities. Its team of talented professionals has deep experience in investing in and managing bank loans, loan acquisition, loan origination, credit analysis, portfolio management, trading, collateralized loan obligation (CLO) investing, and CLO deal structuring and compliance. Whitestar Asset Management is based in Dallas, Texas.

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Buyer(S) 1

Buyer

Clearlake Capital

Santa Monica, California, United States

Category Private Equity Firm
Founded 2006
PE ASSETS 90.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clearlake Capital Group is a private equity firm that focuses on corporate divestitures, recapitalizations, buyouts, restructurings, rescue financing, growth capital, turnarounds, and other equity investments. Clearlake seeks to partner with strong management teams by providing long-term capital and operational expertise. Areas of interest include technology, industrials, and consumer. Clearlake Capital Group was formed in 2006 and is based in Santa Monica, California.


DEAL STATS #
Overall 61 of 93
Sector: Financial Services M&A 1 of 2
Type: Secondary Buyout M&A Deals 23 of 40
State: Texas M&A 11 of 13
Country: United States M&A 58 of 88
Year: 2020 M&A 4 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-18 RSA Security

Burlington, Massachusetts, United States

RSA Security is a provider of intelligence-driven security solutions. RSA enables customers to cost-effectively secure critical information assets and online identities wherever they live and at every step of the way, and manage security information and events to ease the burden of compliance. RSA Security was founded in 1982 and is based in Burlington, Massachusetts.

Buy $2.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-02 Newfold Digital

Jacksonville, Florida, United States

Newfold Digital is a provider of shared web hosting services to small businesses. Newfield Digital helps customers of all sizes build a digital presence that delivers results. Newfold Digital has extensive product offerings and personalized support with customers to serve their online presence needs. Newfold Digital was founded in 1997 and is based in Jacksonville, Florida.

Buy $3.0B

Seller(S) 1

SELLER

Pine Brook Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 6.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Pine Brook Road Partners is a private equity group focused on growth capital investments in the energy and financial services sectors. Specific areas of interest within the energy sector include exploration, oilfield services, transportation/storage, power generation/distribution/transmission, and biofuel/renewable resources. Specific areas of interest within financial services include insurance, banks, asset management, specialty finance, and servicing/distribution/origination. Pine Brook generally acts as the lead/control investor in newly-formed or established businesses. The Firm has a special interest in 'underappreciated or overlooked' opportunities. Pine Brook Road Partners was formed in 2006 and is based in New York City.


DEAL STATS #
Overall 17 of 27
Sector: Financial Services M&A 6 of 8
Type: Secondary Buyout M&A Deals 3 of 5
State: Texas M&A 10 of 13
Country: United States M&A 12 of 19
Year: 2020 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-17 Brigham Minerals

Austin, Texas, United States

Brigham Minerals is an oil and gas company. Brigham focuses on utilizing advanced exploration, drilling and completion technologies to explore, develop and produce onshore U.S. crude oil and liquids reserves.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-08 Global Atlantic Financial Group

New York, New York, United States

Global Atlantic Financial Group is a multiline insurance and reinsurance company that serves more than two million policyholders through its retirement and life insurance products. Global Atlantic was formed in 2004 and is based in New York, New York.

Sell -