M&A Deal Summary

illumifin Acquires LTCG

On February 24, 2022, illumifin acquired business services company LTCG from Stone Point Capital

Acquisition Highlights
  • This is illumifin’s 1st transaction in the Business Services sector.
  • This is illumifin’s 1st transaction in the United States.
  • This is illumifin’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2022-02-24
Target LTCG
Sector Business Services
Buyer(s) illumifin
Sellers(s) Stone Point Capital
Deal Type Add-on Acquisition

Target

LTCG

Eden Prairie, Minnesota, United States
LTCG is a provider of administrative solutions and clinical services to the long-term care and life insurance industry, with over two decades of experience in this space. LTCG was founded in 1996 and is based in Eden Prairie, Minnesota.

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Buyer(S) 1

Buyer

illumifin

Greenville, South Carolina, United States
Category Company
Founded 2021
Sector Business Services
DESCRIPTION

illumifin is a provider of third-party administration and technology services to individual and group insurers. illumifin is a diverse, passionate, and empowered team of insurance specialists committed to the growth and success of its customers. illumifin was founded in 2021 and is based in Greenville, South Carolina.

DEAL STATS #
Overall 1 of 2
Sector (Business Services) 1 of 2
Type (Add-on Acquisition) 1 of 1
State (Minnesota) 1 of 1
Country (United States) 1 of 2
Year (2022) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-09 AmeriLife - Administrative Partners of America

Clearwater, Florida, United States

AmeriLife's Administrative Partners of America is a third-party administrator.

Buy -

Seller(S) 1

SELLER

Stone Point Capital

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 25.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Stone Point Capital is a private equity firm that targets investments in financial services sector. Specific areas of interest include insurance underwriting, outsourcing service providers to financial institutions, specialty lending and other credit opportunities, employee benefits and healthcare, asset management/retirement savings, and banking/depository institutions. Stone Point looks to commit between $5 and $500 million of equity per transaction and will consider control or substantial minority positions. Geographic areas of interest include North America and Europe. Stone Point Capital was formed in 1994 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 52 of 55
Sector (Business Services) 8 of 8
Type (Add-on Acquisition) 27 of 28
State (Minnesota) 1 of 1
Country (United States) 46 of 49
Year (2022) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-08 KV National Land

New York, New York, United States

KV National Land is a full‐service national title insurance and settlement agency. The Company provides commercial and residential title insurance, settlement, escrow, and 1031 exchange services. KV National Land was founded in 2008 and is based in New York City.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-28 SumRidge Partners

Jersey City, New Jersey, United States

SumRidge Partners is a principal-based fixed income market maker, specializing in high yield and investment-grade corporate bonds, municipal bonds, institutional preferred securities, emerging market bonds, and non-agency mortgage-backed securities. SumRidge uses its own balance sheet to facilitate flow trading, ensuring instantaneous execution for its diverse client base. SumRidge also offers actionable fixed income trade ideas and trading desk commentary to a dynamic distribution platform of institutional, middle-market, and wealth management clients worldwide. SumRidge Partners was founded in 2010 and is based in Jersey City.

Sell -
Mergr

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