Going Private • Financial Services

Fortress Acquires Italfondiario

On August 1, 2000, asset manager Fortress acquired financial services company Italfondiario for 2.9B USD

Acquisition Context
  • This is Fortress’ 1st transaction in the Financial Services sector.
  • This is Fortress’ 6th largest (disclosed) transaction.
  • This is Fortress’ 1st transaction in Italy.
Investment Fate
  • Italfondiario was sold to a strategic buyer in 2016.

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M&A Deal Summary

Date August 1, 2000
Target Italfondiario
Sector Financial Services
Buyer(s) Fortress
Deal Type Going Private
Deal Value 2.9B USD

Target Company

Italfondiario

Rome, Italy
Italfondiario provides commercial financial services. The Company offers credit management services such as outsourcing of financial and commercial. Italfondiario serves customers in Italy.
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Buyer Overview 1

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 Context for Buyer #
Overall 3 of 49
Sector: Financial Services 1 of 10
Type: Going Private 1 of 7
Country: Italy 1 of 1
Year: 2000 3 of 3
Size (of disclosed) 6 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-05-01 Brookdale Senior Living

Brentwood, Tennessee, United States

Brookdale Senior Living is an operator of senior living communities. The Company also provides outpatient therapy, home health, personalized living and hospice services. Brookdale Senior Living was founded in 2005 and is based in Brentwood, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-12-01 AMRESCO

Solon, Ohio, United States

AMRESCO, Inc. manufactures and supplies biochemicals and reagents for research applications.

Buy $260M