M&A Deal Summary

High Ridge Capital Acquires Old American Holdings

On October 1, 1999, private equity firm High Ridge Capital acquired insurance company Old American Holdings from Wand Partners

Acquisition Highlights
  • This is High Ridge Capital’s 3rd transaction in the Insurance sector.
  • This is High Ridge Capital’s 3rd transaction in the United States.
  • This is High Ridge Capital’s 1st transaction in Texas.

M&A Deal Summary

Date 1999-10-01
Target Old American Holdings
Sector Insurance
Buyer(s) High Ridge Capital
Sellers(s) Wand Partners
Deal Type Secondary Buyout

Target

Old American Holdings

Texas, United States
Old American Group manages Old American County Mutual, a Texas Mutual Insurance Company that acts on behalf of other insurers and reinsurers to provide non-standard automobile insurance in Texas.

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Buyer(S) 1

Buyer

High Ridge Capital

New Canaan, Connecticut, United States

Investor


Category Private Equity Firm
Founded 1995
Size Small
Type Sector Focused
DESCRIPTION

High Ridge Capital is a private equity firm focused on the insurance sector. Specific areas of interest include insurance and reinsurance companies as well as insurance brokers, claims management companies, captive managers and other service providers. High Ridge will consider providing start-up capital, growth capital, acquisition financing, as well as funding recapitalizations. The Firm looks to commit up to $5 million per transaction. High Ridge was formed in 1995 and is based in New Canaan, Connecticut.


DEAL STATS #
Overall 4 of 4
Sector (Insurance) 3 of 3
Type (Secondary Buyout) 1 of 1
State (Texas) 1 of 1
Country (United States) 3 of 3
Year (1999) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-08-01 Mitchell

San Diego, California, United States

Mitchell is a provider of information, workflow, and performance management solutions to the automotive insurance claims and collision repair industries. Mitchell was founded in 1946 and is based in San Diego, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-03-08 Wells Fargo Insurance Services USA

Chicago, Illinois, United States

Wells Fargo Insurance Services USA (WFIS) is an insurance provider. The Business has a variety of product lines and services including Insurance Brokerage and Consulting, Employee Benefits and Property & Casualty, along with Safehold Special Risk, Small Business Insurance, Student Insurance, Individual Health and Private Risk Management Insurance.

Sell -

Seller(S) 1

SELLER

Wand Partners

New York, New York, United States

Investor Investor


Category Private Equity Firm
Founded 1985
Size Middle-Market
Type Sector Focused
DESCRIPTION

Wand Partners is a specialist private equity firm that targets investments in financial service companies. Prospective transactions include buyouts, expansion financings and venture investments in new companies. Specific areas of interest include property/casualty insurance and reinsurance; life insurance; insurance brokerage; commercial banking, specialty finance; investment banking; investment management; real estate finance; and technology/marketing services. The Firm's target transaction range is $50 to $500 million. Wand Partners was formed in 1985 and is based in New York City.


DEAL STATS #
Overall 5 of 14
Sector (Insurance) 5 of 9
Type (Secondary Buyout) 1 of 2
State (Texas) 3 of 4
Country (United States) 4 of 11
Year (1999) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-08-01 Mitchell

San Diego, California, United States

Mitchell is a provider of information, workflow, and performance management solutions to the automotive insurance claims and collision repair industries. Mitchell was founded in 1946 and is based in San Diego, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-10-27 Chartwell Re

Stamford, California, United States

Chartwell was a medium-sized, broker-market reinsurance company.

Sell -