M&A Deal Summary

HPS Investment Partners and Madison Dearborn Partners Acquire Ardonagh Group

On May 9, 2017, lender HPS Investment Partners and private equity firm Madison Dearborn Partners acquired insurance company Ardonagh Group

Acquisition Highlights
  • This is HPS Investment Partners’ 1st and Madison Dearborn Partners’ 2nd transaction in the Insurance sector.
  • This is HPS Investment Partners’ 1st and Madison Dearborn Partners’ 2nd transaction in the United Kingdom.

M&A Deal Summary

Date 2017-05-09
Target Ardonagh Group
Sector Insurance
Buyer(s) HPS Investment Partners
Madison Dearborn Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Ardonagh Group

Jersey, United Kingdom
Ardonagh Group is an independent insurance distribution platform offers a highly diversified range of insurance-related products and services across the full insurance value chain in the UK, Ireland and broader international markets. Ardonagh Group was founded in 2017 and is based in Jersey, United Kingdom.

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Buyer(S) 2

Buyer

HPS Investment Partners

Investor Investor Investor Investor Investor


Category Lender
Founded 2007
PE ASSETS 104.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HPS Investment Partners is a global investment firm that seeks to provide capital solutions clients. The Firm manages various strategies across the capital structure that include syndicated leveraged loans and high yield bonds to privately negotiated senior secured debt and mezzanine investments, asset-based leasing and private equity. The Firm looks to invest in companies large and small, through standard or customized solutions. HPS was formed in 2007 and is based in New York City.


DEAL STATS #
Overall 3 of 9
Sector (Insurance) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 1 of 2
Country (United Kingdom) 1 of 1
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-14 Cypress Creek Renewables

Santa Monica, California, United States

Cypress Creek Renewables is a developer and long-term owner of solar energy projects with development assets in markets across the United States. Their business model is focused on utility-scale ground mount projects from 2-20MW AC in capacity. Cypress Creek Renewables was founded in 2014 and is based in Santa Monica, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-19 Spruce Power

Houston, Texas, United States

Spruce Power owns and operates more than 52,000 residential rooftop solar systems. The company sells the power generated by its systems to homeowners pursuant to long-term agreements that obligate the company’s subscribers to make recurring monthly payments. Spruce Power is headquartered in Houston, Texas.

Buy -
Buyer

Madison Dearborn Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 28.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Madison Dearborn Partners (MDP) is a large private equity firm that targets buyouts of private or publicly held companies, divestitures of larger companies, recapitalizations of family-owned or closely-held companies, acquisition-oriented financings, and financings to fund internal growth. MDP's target investment size is $100 to $600 million in buyout oriented transactions and $100 to $400 million in growth capital commitments. Areas of interest include basic industries (natural resources, chemicals, energy and power, automotive, building products, food, metals and mining, refining, paper, packaging and forest products, and general manufacturing), as well as communications, consumer products/services, financial services, and healthcare. Madison Dearborn Partners was formed in 1992 and is based in Chicago, Illinois.


DEAL STATS #
Overall 72 of 99
Sector (Insurance) 2 of 4
Type (Buyout (LBO, MBO, MBI)) 24 of 31
Country (United Kingdom) 2 of 2
Year (2017) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-20 Specialty Building Products

Duluth, Georgia, United States

Specialty Building Products is a distributor of specialty residential building products and provider of critical logistics solutions for the complex building products supply chain. SBP has entrenched market positions across high-growth product categories including exterior siding and trim, composite decking and railing, moulding and millwork, interior finish and engineered wood. Specialty Building Products is based in Duluth, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-06 The Amynta Group

New York, New York, United States

The Amynta Group distributes commercial insurance products through managing general agents, offers niche insurance services through specialty risk managers, and provides extended warranties and other financial protection plans for automotive and consumer products.

Buy $1.2B