M&A Deal Summary

J.C. Flowers & Co. Acquires Island Finance

On April 3, 2017, private equity firm J.C. Flowers & Co. acquired financial services company Island Finance from Banco Santander

Acquisition Highlights
  • This is J.C. Flowers & Co.’s 12th transaction in the Financial Services sector.
  • This is J.C. Flowers & Co.’s 1st transaction in Puerto Rico.
Investment Fate
  • Island Finance was sold to a consortium of financial buyers in 2025.

M&A Deal Summary

Date 2017-04-03
Target Island Finance
Sector Financial Services
Buyer(s) J.C. Flowers & Co.
Sellers(s) Banco Santander
Deal Type Divestiture

Target

Island Finance

San Juan, Puerto Rico
Island Finance is a consumer-finance company based in Puerto Rico that provides personal loans and real estate-secured lending to individuals via a network of branches across the island. Island Finance was formed in 1959 and is headquartered in San Juan, Puerto Rico

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Buyer(S) 1

Buyer

J.C. Flowers & Co.

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 4.0B USD
Size Large
Type Sector Focused
DESCRIPTION

JC Flowers is a specialist private equity firm that targets investments in the financial services sector. JC Flowers looks for distressed opportunities in North America, Western Europe, and Asia. JC Flowers was formed in 1998 and is based in New York City with an additional office in London.


DEAL STATS #
Overall 21 of 37
Sector: Financial Services M&A 12 of 18
Type: Divestiture M&A Deals 8 of 12
Country: Puerto Rico M&A 1 of 1
Year: 2017 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-03 UK General Insurance

Leeds, United Kingdom

UK General Insurance is a personal lines insurance provider in Britain offering a range of personal lines insurance products across the property, leisure and lifestyle, payment protection, financial loss, motor financial, warranty, travel and personal accident categories. UK General Insurance was founded in 2010 and is based in Leeds, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-26 Jefferson Capital

Sartell, Minnesota, United States

Jefferson Capital is an analytically driven purchaser and manager of charged-off and insolvency consumer accounts. Jefferson Capital secures and unsecured assets, and its growing client base includes Fortune 500 companies, banks, fintech origination platforms, telecommunications providers, credit card issuers, and auto finance companies. Jefferson Capital was founded in 2002 and is based in Sartell, Minnesota.

Buy -

Seller(S) 1

SELLER

Banco Santander

Madrid, Spain

Category Company
Founded 1856
Sector Financial Services
Employees206,736
Revenue 63.8B EUR (2024)
DESCRIPTION

Banco Santander is a financial group operating principally in Spain, the UK, Portugal, and Brazil. Banco Santander is a provider of commercial and retail banking financial services. Banco Santander was founded in 1856 and is based in Madrid, Spain.


DEAL STATS #
Overall 4 of 6
Sector: Financial Services M&A 2 of 4
Type: Divestiture M&A Deals 3 of 4
Country: Puerto Rico M&A 1 of 2
Year: 2017 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-02 we.trade Innovation DAC

Dublin, Ireland

we.trade Innovation DAC is a digital trade platform based on the Linux Foundation's Hyperledger Fabric and runs on the IBM Blockchain Platform. We .trade digital platform delivers global trade transactions across trade finance, insurance, and logistics. we.trade Innovation was founded in 2017 and is based in Dublin, Ireland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-24 Banco Popular Espanol S.A.

Madrid, Spain

Banco Popular Español, S.A. operates as banking services with special emphasis on the retail segment, in the Spanish market. Banco Popular Espanol was founded in 1926 and is based in Madrid, Spain.

Buy -