M&A Deal Summary

Keyhaven Capital Partners, Aleph Capital Partners and Crestview Partners Acquire DARAG Group

On April 9, 2014, private equity firms Keyhaven Capital Partners, Aleph Capital Partners and Crestview Partners acquired insurance company DARAG Group from Augur Capital

Acquisition Highlights
  • This is Keyhaven Capital Partners’ 1st, Aleph Capital Partners’ 1st and Crestview Partners’ 3rd transaction in the Insurance sector.
  • This is Keyhaven Capital Partners’ 1st, Aleph Capital Partners’ 1st and Crestview Partners’ 1st transaction in Germany.

M&A Deal Summary

Date 2014-04-09
Target DARAG Group
Sector Insurance
Buyer(s) Keyhaven Capital Partners
Aleph Capital Partners
Crestview Partners
Sellers(s) Augur Capital
Deal Type Secondary Buyout
Advisor(s) Lincoln International (Financial)

Target

DARAG Group

Hamburg, Germany
DARAG Group is a privately held insurance company that specializes in taking inactive or discontinued (run-off) businesses from direct insurers and reinsurers. DARAG Group was founded in 1949 and is based in Hamburg, Germany.

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Buyer(S) 3

Buyer

Keyhaven Capital Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
Size Small
Type Sector Agnostic
DESCRIPTION

Keyhaven Capital Partners is a private equity firm focused on small cap company acquisitions in Europe. The Firm does not have any sector preferences and generally targets companies valued less then €100 million. Keyhaven Capital Partners was formed in 2003 and is based in London.


DEAL STATS #
Overall 1 of 16
Sector (Insurance) 1 of 3
Type (Secondary Buyout) 1 of 2
Country (Germany) 1 of 3
Year (2014) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-30 SSI Diagnostica

Hillerod, Denmark

SSI Diagnostica is a Nordic manufacturer and distributor of in vitro diagnostic products servicing microbiological laboratories and pharma companies globally. Internationally, SSI Diagnostica sells high-quality antisera, rapid tests, and other diagnostic products. SSI Diagnostica was founded in 2016 and is based in Hillerod, Denmark.

Buy -
DESCRIPTION

Aleph Capital Partners is an independent investment firm focused on acquisitions throughout Europe. Aleph generally seeks to commit €100 to €400 million per transaction and looks to operate as a long-term capital partner of the businesses it invests in. Aleph does not have any stated sector preferences. Aleph Capital Partners was established in 2013 and is headquartered in London.


DEAL STATS #
Overall 1 of 5
Sector (Insurance) 1 of 1
Type (Secondary Buyout) 1 of 1
Country (Germany) 1 of 1
Year (2014) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-30 Interoute Communications

London, United Kingdom

Interoute Communications Ltd. is a provider of connectivity, communications and computing services to international enterprises, global telecommunication service providers, mobile operators, governments and channel partners. Interoute Communications was founded in 2002 and is based in London, United Kingdom.

Buy -
Buyer

Crestview Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Crestview Partners is a private equity firm focused on challenging investment situations. Crestview targets opportunities across a broad range of industries, with a special interest in asset management, media, healthcare and financial service companies. The Firm looks to commit $100 to $250 million of equity capital in transactions valued between $500 million and $3 billion. Crestview Partners was formed in 2004 and is based in New York, New York.


DEAL STATS #
Overall 22 of 55
Sector (Insurance) 3 of 4
Type (Secondary Buyout) 5 of 13
Country (Germany) 1 of 1
Year (2014) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-06 NYDJ Apparel

Vernon, California, United States

NYDJ Apparel LLC is global apparel designer, manufacturer and marketer of upscale jeans and pants created specifically to fit the average-size, fashion-conscious woman who is typically age 35 and above.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-17 Munder Capital Management

Birmingham, Michigan, United States

Munder Capital is an investment management firm offering actively managed investment products to an institutional and retail client base.

Sell -

Seller(S) 1

SELLER

Augur Capital


Category Private Equity Firm
Founded 2003
PE ASSETS 327M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Augur Capital AG is a private equity firm that focuses on investments in banks, insurance, and other financial service companies headquartered in Europe. The Firm looks to invest in mid-sized companies with a transaction value of between €10 - €100 million. Prospective transaction situation includes MBOs, MBIs ,and spin-offs. Augur Capital AG was formed in 2004 and is based in Frankfurt.


DEAL STATS #
Overall 1 of 2
Sector (Insurance) 1 of 2
Type (Secondary Buyout) 1 of 1
Country (Germany) 1 of 2
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-01 MyLife Life Insurance

Germany

The myLife Versicherung AG offers its customers the only life insurer in Germany only real net rates, ie rates with no closing costs and sales commissions included in the calculations.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-14 cash.life

Frankfurt am Main, Germany

cash.life is a provider of professional financial solutions for customers in terms of policy valuation, policy sales, and policy loans. cash.life repurchases whole life insurance policies as investments and offers insurance brokerage and back-office services to independent financial service providers and banks. cash.life was founded in 1984 and is based in Frankfurt am Main, Germany.

Sell -