M&A Deal Summary |
|
|---|---|
| Date | 2017-08-08 |
| Target | Narragansett Bay Insurance |
| Sector | Insurance |
| Buyer(s) | Heritage Insurance Holdings |
| Sellers(s) | Pine Brook Partners |
| Deal Type | Add-on Acquisition |
| Deal Value | 250M USD |
| Advisor(s) | Evercore Group (Financial) Skadden, Arps, Slate, Meagher & Flom (Legal) |
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| Category | Company |
|---|---|
| Founded | 2012 |
| Sector | Insurance |
| Employees | 566 |
| Revenue | 735M USD (2023) |
Heritage Insurance Holdings is a specialty insurance provider. Heritage Insurance Holdings was founded in 2012 and is based in Tampa, Florida.
| DEAL STATS | # |
|---|---|
| Overall | 3 of 3 |
| Sector (Insurance) | 2 of 2 |
| Type (Add-on Acquisition) | 3 of 3 |
| State (Rhode Island) | 1 of 1 |
| Country (United States) | 3 of 3 |
| Year (2017) | 1 of 1 |
| Size (of disclosed) | 1 of 3 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2015-09-29 |
Zephyr Insurance
Honolulu, Hawaii, United States Zephyr Insurance Co., Inc. is a specialty insurance provider. |
Buy | $120M |
| Category | Private Equity Firm |
|---|---|
| Founded | 2006 |
| PE ASSETS | 6.0B USD |
| Size | Mega |
| Type | Sector Focused |
Pine Brook Road Partners is a private equity group focused on growth capital investments in the energy and financial services sectors. Specific areas of interest within the energy sector include exploration, oilfield services, transportation/storage, power generation/distribution/transmission, and biofuel/renewable resources. Specific areas of interest within financial services include insurance, banks, asset management, specialty finance, and servicing/distribution/origination. Pine Brook generally acts as the lead/control investor in newly-formed or established businesses. The Firm has a special interest in 'underappreciated or overlooked' opportunities. Pine Brook Road Partners was formed in 2006 and is based in New York City.
| DEAL STATS | # |
|---|---|
| Overall | 10 of 25 |
| Sector (Insurance) | 3 of 6 |
| Type (Add-on Acquisition) | 4 of 11 |
| State (Rhode Island) | 1 of 1 |
| Country (United States) | 7 of 19 |
| Year (2017) | 1 of 3 |
| Size (of disclosed) | 7 of 10 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2017-06-22 |
Pursuit Oil & Gas
Houston, Texas, United States Pursuit is a Houston, Texas-based oil and gas exploration and production company engaged in the identification, evaluation, acquisition and development of unconventional oil and gas projects in the United States. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2017-09-01 |
Cadence Business Finance
Houston, Texas, United States Cadence Business Finance provides customized solutions to specialty finance companies. Flexible covenant structures in industries such as equipment financing, insurance premium financing, specialty asset-based lending and factoring, as well as merchant cash advance, foster the long-term success of asset-based lenders, and that of their clients. |
Sell | $198M |
