M&A Deal Summary

Great-West Life & Annuity Insurance Acquires Financial Horizons Group

On May 19, 2017, Great-West Life & Annuity Insurance acquired insurance company Financial Horizons Group from Genstar Capital

Acquisition Highlights
  • This is Great-West Life & Annuity Insurance’s 1st transaction in the Insurance sector.
  • This is Great-West Life & Annuity Insurance’s 1st transaction in Canada.
  • This is Great-West Life & Annuity Insurance’s 1st transaction in Ontario.

M&A Deal Summary

Date 2017-05-19
Target Financial Horizons Group
Sector Insurance
Buyer(s) Great-West Life & Annuity Insurance
Sellers(s) Genstar Capital
Deal Type Add-on Acquisition

Target

Financial Horizons Group

Kitchener, Ontario, Canada
Financial Horizons Group is a distributor of insurance products and other financial services in Canada. The Company consists of two business segments: Financial Horizons and Henderson Structured Settlements. Financial Horizons is a Managing General Agent that serves as the key conduit for independent insurance brokers to access a multitude of life insurance and financial investment products from various providers. Henderson Structured Settlements is an independent distributor of structured settlements, including tax-free, guaranteed annuities made available from five government-approved life insurance companies relating to compensatory damages for personal injury or death.

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Buyer(S) 1

Buyer

Great-West Life & Annuity Insurance

Greenwood Village, Colorado, United States

Category Company
Founded 1907
Sector Insurance
Employees3,300
DESCRIPTION

Great-West Life & Annuity Insurance Company (Great-West Financial) helps millions of Americans, their companies and employers build greater financial security. Our offerings range from retirement savings products and services to life insurance, annuities and executive benefits products.


DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-26 Great-West Healthcare

Denver, Colorado, United States

Great-West Healthcare, is the healthcare division of Great-West Life & Annuity Inc.,, a Denver, Colorado-based, indirect, wholly owned subsidiary of Great-West Lifeco Inc. and a member of the Power Financial Corporation group of companies.

Sell $1.5B

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 37 of 60
Sector (Insurance) 4 of 6
Type (Add-on Acquisition) 12 of 18
State (Ontario) 3 of 3
Country (Canada) 4 of 6
Year (2017) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-09 Apex Group

Hamilton, Bermuda

Apex Group is an independent fund administration and middle office solutions provider with offices in 32 locations worldwide. Apex has continually improved and evolved its product suite by surrounding these core administrative services with additional products spanning the full value chain; from information delivery and regulatory products to capital introduction services. Apex now administers the investments of some of the largest funds and institutional investors in the world. Apex Group was founded in 2003 and is based in Hamilton, Bermuda.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-25 PDI Technologies

Alpharetta, Georgia, United States

PDI Technologies is a provider of solutions and services to over 200,000 convenience and petroleum wholesale sites by securely connecting their data and operations. PDI Technologies is based in Alpharetta, Georgia.

Buy -