M&A Deal Summary

Culpeper Capital Partners and Fortress Acquire SNAAC

On October 24, 2011, private equity firm Culpeper Capital Partners and asset manager Fortress acquired financial services company SNAAC

Acquisition Highlights
  • This is Culpeper Capital Partners’ 1st and Fortress’ 9th transaction in the Financial Services sector.
  • This is Culpeper Capital Partners’ 1st and Fortress’ 23rd transaction in the United States.
  • This is Culpeper Capital Partners’ 1st and Fortress’ 2nd transaction in Ohio.
Investment Fate
  • SNAAC was sold to a consortium of financial buyers in 2019.

M&A Deal Summary

Date 2011-10-24
Target SNAAC
Sector Financial Services
Buyer(s) Culpeper Capital Partners
Fortress
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Kroll (Financial)

Target

SNAAC

Mason, Ohio, United States
SNAAC is a specialty finance company that purchases and services retail sales finance contracts from auto dealers in the sale of new and used automobiles. SNAAC was founded in 1986 and is based in Mason, Ohio.

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Buyer(S) 2

DESCRIPTION

Culpeper Capital Partners is a private equity firm focused on opportunistic investments in financial services companies. Specific areas of interest include banks, debt buyers, debt collections, scratch & dent mortgages, consumer lenders, commercial lenders, and insurance companies. The Firm will consider both control and minority positions and will invest across the capital structure. Culpeper Capital Partners was formed in 2011 and is based in New York City.


DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 1
State: Ohio M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2011 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-07 SNAAC

Mason, Ohio, United States

SNAAC is a specialty finance company that purchases and services retail sales finance contracts from auto dealers in the sale of new and used automobiles. SNAAC was founded in 1986 and is based in Mason, Ohio.

Sell -
Buyer

Fortress

New York, New York, United States

Category Asset Manager
Founded 1998
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Fortress is a public investment firm that manages hedge fund, credit, and private equity investments. Fortress' private equity practice primarily makes control-oriented investments in North American and Western European businesses with significant asset-bases and strong cash-flows. Fortress is open to investing in a wide range of sectors, however the Firm has tended towards capital intensive sectors. These include transportation, financials, senior living/healthcare, real estate, media & telecommunications, leisure and energy infrastructure. The pivate equity group also invests in publicly traded alternative investment vehicles, which Fortress refers to as 'castles' that primarily invest in real estate and real estate related debt. Fortress was formed in 1998 and is based in New York City.


DEAL STATS #
Overall 30 of 49
Sector: Financial Services M&A 9 of 10
Type: Buyout (LBO, MBO, MBI) M&A Deals 12 of 13
State: Ohio M&A 2 of 2
Country: United States M&A 23 of 36
Year: 2011 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-06 Boxclever

Bedford, United Kingdom

Boxclever is an electrical and home products rental company, with approximately 100,000 customers across the UK. Boxclever was formed in 2000 and is based in Bedford, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-08 Nationstar Mortgage Holdings

Coppell, Texas, United States

Nationstar Mortgage Holdings, Inc. is a residential mortgage service and originator. Nationstar was formed in 1994 and is based in Coppell, Texas.

Sell -