M&A Deal Summary |
|
|---|---|
| Date | 2014-03-21 |
| Target | Wilton Re Holdings |
| Sector | Insurance |
| Buyer(s) | CPP Investments |
| Sellers(s) |
Vestar Capital Partners
Stone Point Capital FFL Partners Ridgemont Equity Partners Kelso Century Equity Partners |
| Deal Type | Secondary Buyout |
| Deal Value | 1.8B USD |
| Advisor(s) | Barclays Investment Bank (Financial) Skadden, Arps, Slate, Meagher & Flom Sutherland Asbill & Brennan LLP (Legal) |
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CPP Investments is a Canadian pension fund focused on a variety of investing strategies, including public equities, debt, and alternative investments. The Firm's private equity arm looks to acquire direct stakes in private companies, as well as make fund investments and acquire secondary positions. For direct stakes in companies, CPP looks to invest across North American and Europe and seeks to commit a minimum of $150 million per transaction. CPP has no industry preferences however the Firm will not invest in real assets. CPP Investments was established in 1997 and is based in Toronto, Ontario.
| DEAL STATS | # |
|---|---|
| Overall | 7 of 51 |
| Sector (Insurance) | 1 of 2 |
| Type (Secondary Buyout) | 3 of 11 |
| State (Connecticut) | 1 of 1 |
| Country (United States) | 5 of 26 |
| Year (2014) | 1 of 2 |
| Size (of disclosed) | 19 of 26 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2013-09-09 |
Neiman Marcus
Dallas, Texas, United States Neiman Marcus is a specialty retailer with online and offline operations. The Company's retail stores segment consists primarily of Neiman Marcus, Bergdorf Goodman and Last Call stores. The Online segment conducts both catalog and online operations under the Neiman Marcus, Bergdorf Goodman and Horchow brand names. Neiman Marcus was originally established in 1907 and is headquartered Dallas, Texas. |
Buy | $6.0B |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2014-04-16 |
Air Distribution Technologies
Richardson, Texas, United States Air Distribution Technologies is a provider of air-distribution and ventilation products for residential and industrial buildings in North America. Its brands include Koch Filter, Titus, Ruskin, Kreuger, PennBarry and Tuttle & Bailey and their product lines of grilles, registers and diffusers, terminal units, fire and smoke dampers, louvers, filters and fans. Air Distribution Technologies products are manufactured in the United States, Mexico, India, Thailand and the United Arab Emirates. Air Distribution Technologies is based in Richardson, Texas. |
Sell | $1.6B |
| Category | Private Equity Firm |
|---|---|
| Founded | 1988 |
| PE ASSETS | 11.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
Vestar Capital Partners is a private equity firm that targets management buyouts and growth capital investments across North America and Europe in the consumer, business services, and healthcare sectors. The Firm looks to invest $50 to $150 million in transactions valued up to $1 billion. Specific areas of interest include food, apparel, household goods, retail, consumer services, industrial services, information services, manufacturing, distribution, transportation, financial services, media/communications, digital health media, and medical technology. Vestar Capital Partners was formed in 1988 and is based in New York City.
| DEAL STATS | # |
|---|---|
| Overall | 49 of 66 |
| Sector (Insurance) | 5 of 5 |
| Type (Secondary Buyout) | 12 of 16 |
| State (Connecticut) | 2 of 3 |
| Country (United States) | 38 of 53 |
| Year (2014) | 1 of 3 |
| Size (of disclosed) | 5 of 21 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2013-08-26 |
Roland Foods
New York, New York, United States Roland Foods is an importer and supplier of specialty foods with a focus on shelf-stable products. Roland Foods was founded in 1934 and is based in New York City. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2014-04-30 |
ISS
Rockville, Maryland, United States Institutional Shareholder Services, Inc. is a provider of corporate governance and responsible investment (RI) solutions for asset owners, asset managers, hedge funds, and asset service providers. ISS’ solutions include objective governance research and recommendations; RI data, analytics, advisory, and research; end-to-end proxy voting and distribution solutions; turnkey securities class-action claims management (provided by Securities Class Action Services, LLC); and reliable global governance data and modeling tools. Clients rely on ISS’ expertise to help them make informed corporate governance and responsible investment decisions. Institutional Shareholder Services was formed in 1985 and is based in Rockville, Maryland. |
Buy | $364M |
| Category | Private Equity Firm |
|---|---|
| Founded | 1994 |
| PE ASSETS | 25.0B USD |
| Size | Mega |
| Type | Sector Focused |
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 $5 and $500 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 | 14 of 55 |
| Sector (Insurance) | 11 of 16 |
| Type (Secondary Buyout) | 5 of 15 |
| State (Connecticut) | 1 of 1 |
| Country (United States) | 9 of 49 |
| Year (2014) | 2 of 6 |
| Size (of disclosed) | 4 of 16 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2014-01-27 |
Sedgwick
Memphis, Tennessee, United States Sedgwick is a global provider of technology-enabled risk, benefits and integrated business solutions. The Company provides technology-enabled claims management solutions for workers’ compensation, disability, liability, and property claims. Sedgwick was founded in 1969 and is based in Memphis, Tennessee. |
Sell | $2.4B |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2014-04-03 |
Businessolver
West Des Moines, Iowa, United States Businessolver is a provider of software as a service (SaaS) employee benefits administration solutions. Businessolver was founded in 1998 and is based in West Des Moines, Iowa. |
Buy | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1997 |
| PE ASSETS | 5.4B USD |
| Size | Mega |
| Type | Sector Focused |
FFL Partners (formerly known as Friedman Fleischer & Lowe) is a private equity group focused on majority and minority investments in North American middle-market companies. Prospective businesses generally have revenues of $30 to $400 million and are valued between $50 and $300 million. Target situations include ownership restructurings in closely-held and family-owned companies, management buyouts, PIPEs, growth equity fundings, take privates, special situations, and recapitalizations. Sectors of interest include outsourced business services, education and training, marketing and media, consumer products, healthcare, and financial services. FFL Partners was formed in 1997 and is based in San Francisco.
| DEAL STATS | # |
|---|---|
| Overall | 10 of 32 |
| Sector (Insurance) | 3 of 4 |
| Type (Secondary Buyout) | 3 of 13 |
| State (Connecticut) | 1 of 1 |
| Country (United States) | 9 of 30 |
| Year (2014) | 1 of 3 |
| Size (of disclosed) | 1 of 7 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2013-05-23 |
Iracore International
Hibbing, Minnesota, United States Iracore International is a designer, producer, and applicator of elastomeric protective coatings for pipelines and other equipment used in demanding industrial applications. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2014-05-29 |
SNAP Financial Group
Vancouver, British Columbia, Canada SNAP Financial Group is focused on being a fast, fair & friendly payment solutions partner. The company provides quick approvals, reasonable and responsible interest rates, and supportive customer experience. SNAP was formed in 2006 and is headquartered in Vancouver, British Columbia with additional offices in Toronto, Ontario, and West Des Moines, Iowa. |
Buy | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1993 |
| PE ASSETS | 7.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
Ridgemont Equity Partners is an independent private equity firm specializing in middle-market buy-outs, corporate divestitures, recapitalizations and growth capital investments. The Firm targets to invest in companies located in North America, preferably in US and Canada. REP looks to invest up to $500 million in companies with EBIDTA of $5 - $50 million. The Firm seeks to hold both majority and minority equity interest in portfolio companies. Specific areas of interest include basin industries and services, energy, healthcare, telecommunications, media and technology. Ridgemont Equity Partners is a spun-off of Banc of America Capital Investors (BACI). Ridgemont Equity Partners was formed in August 2010 and is based in Charlotte, North Carolina.
| DEAL STATS | # |
|---|---|
| Overall | 61 of 91 |
| Sector (Insurance) | 7 of 7 |
| Type (Secondary Buyout) | 15 of 24 |
| State (Connecticut) | 1 of 1 |
| Country (United States) | 51 of 80 |
| Year (2014) | 1 of 9 |
| Size (of disclosed) | 7 of 23 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2014-01-01 |
Allredi
Pasadena, Texas, United States Allredi is a North American distributor of surface preparation, abrasives, and safety products to industrial contractors primarily in the industrial, infrastructure, and downstream energy sectors. Allredi was founded in 1944 and is based in Pasadena, Texas. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2014-04-14 |
Nuveen Investments
Chicago, Illinois, United States Nuveen Investments LLC provides high-quality investment services designed for institutions and high-net-worth investors as well as the consultants and financial advisors who serve them. |
Sell | $6.3B |
| Category | Private Equity Firm |
|---|---|
| Founded | 1971 |
| PE ASSETS | 15.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
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 | 25 of 53 |
| Sector (Insurance) | 2 of 2 |
| Type (Secondary Buyout) | 5 of 13 |
| State (Connecticut) | 2 of 2 |
| Country (United States) | 21 of 46 |
| Year (2014) | 3 of 4 |
| Size (of disclosed) | 1 of 10 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2014-03-13 |
Traxys
Strassen, Luxembourg Traxys is an intermediary between base metal, noble alloy, industrial mineral producers, and industrial end-users. The Company provides a full range of commercial services such as marketing, sales, distribution, hedging, supply chain financing, raw materials sourcing, credit risk coverage, and logistics. Traxys was formed in 1919 and is based in Strassen, Luxembourg. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2014-03-26 |
Global Geophysical Services
Missouri City, Texas, United States Global Geophysical Services, Inc. provides an integrated suite of Geoscience solutions to the global oil and gas industry including high-resolution RG-3D Reservoir GradeSM seismic data acquisition, multi client data library products, seismic and microseismic monitoring, processing, reservoir characterization and data analysis, interpretation services, and Autoseis® autonomous recording equipment. |
Sell | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1987 |
| PE ASSETS | 885M USD |
| Size | Middle-Market |
| Type | Sector Agnostic |
Century Equity Partners is an asset management firm invests in lower middle-market companies located in the US. Century Equity Partners focuses on companies with rapidly growing, profitable businesses led by strong management teams with an enterprise value between $15 and $300 million and equity capital ranging from $5 to $30 million and in conjunction with its limited partners and select co-investors can commit up to $100 million to a single transaction. The Firm targets companies operating in the fields of financial services, insurance, and healthcare services. Types of transactions include buyouts and growth capital. It seeks minority interest and also considers co-invests. Century Equity Partners was formed in 1987 and is based in Boston, Massachusetts.
| DEAL STATS | # |
|---|---|
| Overall | 13 of 23 |
| Sector (Insurance) | 8 of 12 |
| Type (Secondary Buyout) | 3 of 5 |
| State (Connecticut) | 1 of 1 |
| Country (United States) | 8 of 17 |
| Year (2014) | 3 of 4 |
| Size (of disclosed) | 1 of 4 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2014-01-02 |
Forethought Financial Group
Houston, Texas, United States Forethought Financial serves the United States’ funeral planning professionals with marketing support for Forethought funeral plans funded by life insurance. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2014-05-14 |
Enrollment Advisors
Birmingham, Enrollment Advisors is a strategic employee engagement and healthcare compliance provider for Fortune 1000 employers. Its customers experience positive returns on their benefits investments through increased employee participation, management of the evolving regulatory environment, and reduced benefits cost through patented technology and benefits domain expertise. |
Buy | - |
