M&A Deal Summary

Deutsche Boerse Acquires ISS

On November 17, 2020, Deutsche Boerse acquired financial services company ISS from Genstar Capital for 2.3B USD

Acquisition Highlights
  • This is Deutsche Boerse’s 1st transaction in the Financial Services sector.
  • This is Deutsche Boerse’s 2nd largest (disclosed) transaction.
  • This is Deutsche Boerse’s 3rd transaction in the United States.
  • This is Deutsche Boerse’s 1st transaction in Maryland.

M&A Deal Summary
Date 2020-11-17
Target ISS
Sector Financial Services
Buyer(s) Deutsche Boerse
Sellers(s) Genstar Capital
Deal Type Add-on Acquisition
Deal Value 2.3B USD

Target

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.

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Buyer(S) 1

Buyer

Deutsche Boerse

Frankfurt am Main, Germany
Category Company
Founded 1585
Sector Financial Services
Employees14,502
Revenue 6.1B EUR (2023)
DESCRIPTION

Deutsche Boerse is an exchange organization. The product and service portfolio covers the entire process chain from securities and derivatives trading, clearing, settlement and custody, through to the provision of market data and the development and operation of electronic trading systems. Deutsche Boerse was founded in 1585 and is based in Eschborn, Germany.

DEAL STATS #
Overall 4 of 7
Sector (Financial Services) 1 of 3
Type (Add-on Acquisition) 3 of 6
State (Maryland) 1 of 1
Country (United States) 3 of 3
Year (2020) 2 of 2
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-23 Deutsche Boerse AG - Regulatory Reporting Hub

Eschborn, Germany

Deutsche Boerse's Regulatory Reporting Hub is a pan-European reporting and compliance platform that enables buy- and sell-side clients to meet their regulatory obligations and transparency requirements across multiple regulations, such as MiFID II and EMIR. Services include transaction and trade reporting, best execution reporting, and SI services, as well as APA and ARM services.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-29 Crypto Finance

Zug, Switzerland

Crypto Finance is an independent financial group under consolidated FINMA supervision, offering institutional and professional clients trading, storage, and investment in digital assets. Crypto Finance was founded in 2017 and is based in Zug, Switzerland.

Buy -

Seller(S) 1

SELLER

Genstar Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 49.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Genstar Capital is a private equity firm that seeks investments in life science, healthcare, medical products, industrial technology, software, financial services, packaging, building materials, manufacturing, and business services companies. Genstar looks to invest between $50 and $400 million of equity capital in businesses valued up to $1 billion. Target transaction situations include control-oriented leveraged buyouts of corporate divisions, privately held businesses or public companies, minority investments in privately held businesses or public companies, ownership restructurings/recapitalizations of privately held businesses, growth equity financings, partnerships with other strategic or financial buyers, and take privates. Genstar Capital was formed in 1988 and is based in San Francisco, California.

DEAL STATS #
Overall 50 of 60
Sector (Financial Services) 5 of 6
Type (Add-on Acquisition) 16 of 18
State (Maryland) 2 of 3
Country (United States) 45 of 54
Year (2020) 4 of 4
Size (of disclosed) 1 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-17 Likewize

Southlake, Texas, United States

Likewize offers comprehensive protection against any technology disruption. Whether a device is lost, stolen, damaged, malfunctioning, in need of an upgrade or the user does not know how to do something, the company provides the solution. It operates in over 30 countries, resolving 250 million problems each year across insurance, warranty, repairs, trade-ins, recycling, and premium tech support. Likewize was founded in 1997 and is based in Southlake, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-19 JSSI

Chicago, Illinois, United States

JSSI is an independent provider of maintenance programs to the aviation industry, covering virtually all makes and models of aircraft, engines, and APUs. The company provides its customers with comprehensive, flexible, and affordable financial programs and tools for managing the often unpredictable costs of operating and maintaining business and commercial jets, turboprops, and helicopters. JSSI was founded in 1989 and is based in Chicago, Illinois.

Buy -
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