M&A Deal Summary

JAB Holding Company Acquires Crum & Forster

On June 20, 2022, private equity firm JAB Holding Company acquired insurance company Crum & Forster from Fairfax

Acquisition Highlights
  • This is JAB Holding Company’s 2nd transaction in the Insurance sector.
  • This is JAB Holding Company’s 8th transaction in the United States.
  • This is JAB Holding Company’s 2nd transaction in New Jersey.

M&A Deal Summary
Date 2022-06-20
Target Crum & Forster
Sector Insurance
Buyer(s) JAB Holding Company
Sellers(s) Fairfax
Deal Type Divestiture

Target

Crum & Forster

Morristown, New Jersey, United States
Crum & Forster provides specialty and standard commercial lines insurance products through company admitted and surplus lines insurance companies. The group is a founding member of the North American Pet Health Insurance Association (NAPHIA). Pethealth Inc. offers pet services through two brands 24Pet and VioVet. 24Pet are the experts in lost pet solutions, pet adoptions, animal welfare, and shelter support. A family of platforms, services, products, and people, obsessed with pets. From connecting them with loving families to protecting and helping keep them happy, healthy, and home. VioVet is a UK-registered veterinary online pet retailer that offers a variety of pet and horse supplies, including prescription and non-prescription medications, supplements, food, toys, and more. Crum & Forster was formed in 1896 and is based in Morristown, New Jersey.

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Buyer(S) 1

Buyer

JAB Holding Company

Category Private Equity Firm
Founded 2011
Size Small
Type Sector Agnostic
DESCRIPTION

JAB Holding Company is a global investment firm focused on acquiring companies with premium consumer and strong growth prospects. JAB will consider both minority and majority stakes. JAB Holding Company is headquartered in Luxembourg.

DEAL STATS #
Overall 11 of 13
Sector (Insurance) 2 of 4
Type (Divestiture) 2 of 3
State (New Jersey) 2 of 2
Country (United States) 8 of 9
Year (2022) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-20 Pethealth

Oakville, Ontario, Canada

Pethealth is a provider of medical insurance for dogs and cats to pet owners, operating in the United States, Canada, and the United Kingdom. In addition, the Company is a provider of management software to North American animal welfare organizations through its SaaS-based application and is the leading provider of pet-related database management services to the North American companion animal industry. Pethealth is based in Oakville, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-06 Petplan

Amsterdam, Netherlands

Petplan is a provider of pet insurance services. Petplan is based in Amsterdam, Netherlands.

Buy -

Seller(S) 1

SELLER

Fairfax

Toronto, Ontario, Canada
Category Company
Founded 1951
Sector Insurance
Employees15,891
Revenue 25.8B USD (2023)
DESCRIPTION

Fairfax is a financial services holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management. Fairfax’s corporate objective is to achieve a high rate of return on invested capital and build long-term shareholder value. Fairfax was founded in 1951 and is based in Toronto, Ontario.

DEAL STATS #
Overall 5 of 5
Sector (Insurance) 4 of 4
Type (Divestiture) 4 of 4
State (New Jersey) 1 of 1
Country (United States) 3 of 3
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-20 Pethealth

Oakville, Ontario, Canada

Pethealth is a provider of medical insurance for dogs and cats to pet owners, operating in the United States, Canada, and the United Kingdom. In addition, the Company is a provider of management software to North American animal welfare organizations through its SaaS-based application and is the leading provider of pet-related database management services to the North American companion animal industry. Pethealth is based in Oakville, Ontario.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-01 Atlas

Vancouver, British Columbia, Canada

Atlas is an asset manager that owns and operates the businesses in which it invests while focusing on deploying capital across multiple verticals. Atlas' wholly-owned subsidiaries, Seaspan and APR is an integrated platform in the global maritime and energy space respectively. Atlas was founded in 2019 and is based in Vancouver, British Columbia.

Buy $10.9B
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