Investment Summary

Culpeper Capital Partners and Fortress Exits SNAAC

On August 7, 2019, invested in financial services company SNAAC from Culpeper Capital Partners and Fortress

Investment Highlights
  • This is transaction in the Financial Services sector.
  • This is transaction in the United States.
  • This is transaction in Ohio.

Investment Summary

Date 2019-08-07
Target SNAAC
Sector Financial Services
Sellers(s) Culpeper Capital Partners
Fortress
Deal Type Shut Down

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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Seller(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: Shut Down M&A Deals 1 of 1
State: Ohio M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-24 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.

Buy -
SELLER

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 21 of 27
Sector: Financial Services M&A 10 of 11
Type: Shut Down M&A Deals 1 of 1
State: Ohio M&A 2 of 2
Country: United States M&A 16 of 20
Year: 2019 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-07 Aucerna

Calgary, Alberta, Canada

Aucerna is a provider of solutions for integrated planning, execution, and reserves in the energy industry. Aucerna is a global source of technology and expertise, serving more than 500 customers from 12 global offices including Calgary, Houston, London, and Singapore. Aucerna serves the energy industry’s largest base of customers, from super-majors and emerging operators to energy investors, consultants, and educational institutions. Aucerna is based in Calgary, Alberta.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-14 CoreVest American Finance Lender

Irvine, California, United States

CoreVest American Finance Lender LLC is the lender to residential real estate investors, nationwide. CoreVest offers long-term loans for stabilized rental properties as well as short-term bridge loans and investment credit lines. With more than $6 billion in closed loans and 40,000 units financed, CoreVest offers attractive rates, rapid timelines, and closing certainty. CoreVest works directly with borrowers, brokers and correspondent partners.

Sell -