M&A Deal Summary

First Niagara Financial Group Acquires NewAlliance Bank

On April 15, 2011, First Niagara Financial Group acquired financial services company NewAlliance Bank for 1.5B USD

Acquisition Highlights
  • This is First Niagara Financial Group’s 2nd transaction in the Financial Services sector.
  • This is First Niagara Financial Group’s largest (disclosed) transaction.
  • This is First Niagara Financial Group’s 3rd transaction in the United States.
  • This is First Niagara Financial Group’s 2nd transaction in Connecticut.

M&A Deal Summary
Date 2011-04-15
Target NewAlliance Bank
Sector Financial Services
Buyer(s) First Niagara Financial Group
Deal Type Add-on Acquisition
Deal Value 1.5B USD
Advisor(s) J.P. Morgan Securities (Financial)
Hinckley, Allen & Snyder (Legal)

Target

NewAlliance Bank

New Haven, Connecticut, United States
NewAlliance Bancshares, Inc. is a regional banking and financial services company. NewAlliance Bank also provides trust services and investment and insurance products and services.

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Buyer(S) 1

Buyer

First Niagara Financial Group

Buffalo, New York, United States
Category Company
Founded 1870
Sector Financial Services
Employees5,874
Revenue 1.5B USD (2014)
DESCRIPTION

First Niagara Financial Group, Inc. is a provider of financial services to individuals, families and businesses across New York, Pennsylvania, Connecticut and Massachusetts.

DEAL STATS #
Overall 3 of 3
Sector (Financial Services) 2 of 2
Type (Add-on Acquisition) 3 of 3
State (Connecticut) 2 of 2
Country (United States) 3 of 3
Year (2011) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-14 Pierson & Smith

Norwalk, Connecticut, United States

Pierson & Smith, Inc., a experience, insight, and financial management to provide clients with a unique approach to designing, implementing, and servicing their commercial property, liability, personal insurance, and employee benefit plans.

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