M&A Deal Summary

Further Global Acquires AA Insurance

On October 1, 2020, private equity firm Further Global acquired insurance company AA Insurance from The Carlyle Group and Cardinal Capital Group

Acquisition Highlights
  • This is Further Global’s 3rd transaction in the Insurance sector.
  • This is Further Global’s 1st transaction in Ireland.

M&A Deal Summary

Date 2020-10-01
Target AA Insurance
Sector Insurance
Buyer(s) Further Global
Sellers(s) The Carlyle Group
Cardinal Capital Group
Deal Type Secondary Buyout

Target

AA Insurance

Dublin, Ireland
AA Insurance is a roadside assistance provider and insurance intermediary. It provides roadside repair and Rescue, and Motor, Home, Travel & Life insurance. It also provides technical and audit services notably for the Road Safety Authority. AA Insurance was founded in 2016 and is based in Dublin, Ireland.

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Buyer(S) 1

DESCRIPTION

Further Global Capital Management is a private equity firm firm focused on the financial services sector. The Firm looks to commit $75 to $200 million to support a variety of investment situations including growth capital needs, management led buyouts, ownership transitions, divestitures, sponsor sales, distress recapitalizations, and buy-and-builds. Further Global Capital Management was established in 2017 and is headquartered in New York, New York.


DEAL STATS #
Overall 7 of 13
Sector: Insurance M&A 3 of 5
Type: Secondary Buyout M&A Deals 4 of 4
Country: Ireland M&A 1 of 1
Year: 2020 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-22 Kroll

New York, New York, United States

Kroll is an independent financial advisory and investment banking firm, offering a broad range of consulting and advisory services to public and private companies. Kroll was founded in 1932 and is based in New York, New York.

Buy $4.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-15 Coaction

Morristown, New Jersey, United States

Coaction is a property and casualty insurance company that designs unique insurance solutions to help customers improve their business and realize value from their insurance purchasing decision. Coaction was founded in 2009 and is based in Morristown, New Jersey.

Buy $586M

Seller(S) 2

SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 403 of 488
Sector: Insurance M&A 5 of 8
Type: Secondary Buyout M&A Deals 86 of 119
Country: Ireland M&A 4 of 7
Year: 2020 M&A 22 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-30 Visionary RCM

Chennai, India

Visionary RCM is a provider of risk adjustment and revenue cycle management services to the healthcare industry. Visionary RCM was founded in 2006 and is based in Chennai, India.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-26 Calastone

London, United Kingdom

Calastone is a global funds network, that connects the world’s major financial organizations. Calastone's mission is to help the asset management industry transform by creating innovative new ways to automate and digitalize the global investment funds marketplace, reducing frictional costs, and lowering the operational risk to the benefit of all. Calastone was formed in 2007 and is based in London, England.

Buy -
SELLER

Cardinal Capital Group

Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
PE ASSETS 292M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Cardinal Capital Group is an investment group principally focused on providing alternative financing solutions to small and mid-sized companies throughout Ireland. Cardinal Capital looks to invest €5 to €50 million per transaction and will consider direct investments as well as mezzanine financing commitments. Cardinal Capital Group was formed in 2003 and is based in Dublin.


DEAL STATS #
Overall 3 of 7
Sector: Insurance M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
Country: Ireland M&A 2 of 5
Year: 2020 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-30 City Bin

Galway, Ireland

City Bin is a waste collection company engaged in providing waste management and recycling services. City Bin was founded in 1997 and is based in Galway, Ireland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-13 Mowlam Healthcare

Limerick, Ireland

Mowlam Healthcare is a provider of dementia care, nursing home care, respite care and palliative care, with a growing number of specialist memory care dementia centres. Mowlam Healthcare was founded in 2000 and is based in Limerick, Ireland.

Buy -