M&A Deal Summary

KKR and Stone Point Capital Acquire SunFire

On April 2, 2024, private equity firms KKR and Stone Point Capital acquired internet software and services company SunFire from Stone Point Capital

Acquisition Highlights
  • This is KKR’s 36th and Stone Point Capital’s 11th transaction in the Internet Software and Services sector.
  • This is KKR’s 201st and Stone Point Capital’s 103rd transaction in the United States.
  • This is KKR’s 6th and Stone Point Capital’s 3rd transaction in New Jersey.

M&A Deal Summary

Date 2024-04-02
Target SunFire
Sector Internet Software and Services
Buyer(s) KKR
Stone Point Capital
Sellers(s) Stone Point Capital
Deal Type Secondary Buyout
Advisor(s) William Blair (Financial)

Target

SunFire

Clifton, New Jersey, United States
SunFire is a SaaS technology company providing transformative and proven IT solutions and services to support the rapidly growing medicare market. SunFire is based in Clifton, New Jersey.

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Buyer(S) 2

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 267.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 473 of 499
Sector: Internet Software and Services M&A 36 of 37
Type: Secondary Buyout M&A Deals 100 of 113
State: New Jersey M&A 6 of 6
Country: United States M&A 201 of 212
Year: 2024 M&A 6 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-27 Acteon

Norwich, United Kingdom

Acteon is a global oilfield services provider focusing on the provision of subsea services and products. Acteon was founded in 1989 and is based in Norwich, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-04 ADNOC Oil Pipelines

Abu Dhabi, United Arab Emirates

ADNOC Oil Pipelines will lease ADNOC’s interest in 18 pipelines, transporting stabilized crude oil and condensate across ADNOC’s offshore and onshore upstream concessions, for a 23-year period. ADNOC Oil Pipelines is based in Abu Dhabi, United Arab Emirates.

Sell -
Buyer

Stone Point Capital

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 55.0B 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 $75 and $750 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 115 of 120
Sector: Internet Software and Services M&A 11 of 11
Type: Secondary Buyout M&A Deals 25 of 27
State: New Jersey M&A 3 of 3
Country: United States M&A 103 of 108
Year: 2024 M&A 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-20 CRC Group

Birmingham, Alabama, United States

CRC Group is a Property and Casualty wholesale brokerage and MGA platform. CRC Group places over $30 billion of premiums through its specialty wholesale and underwriting insurance businesses. CRC Group is based in Birmingham, Alabama.

Buy $15.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-15 Safe-Guard

Atlanta, Georgia, United States

Safe-Guard is a provider of branded vehicle protection products in the finance and insurance space to the automotive, RV, marine and motorcycle/Powersports industries. The company primarily works with automotive original equipment manufacturers (OEMs) and auto dealers to design and administer protection products sold at auto dealerships. Safe-Guard was founded in 1992 and is based in Atlanta, Georgia.

Sell -

Seller(S) 1

SELLER

Stone Point Capital

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 55.0B 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 $75 and $750 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 58 of 59
Sector: Internet Software and Services M&A 5 of 5
Type: Secondary Buyout M&A Deals 14 of 15
State: New Jersey M&A 2 of 2
Country: United States M&A 52 of 53
Year: 2024 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-20 CRC Group

Birmingham, Alabama, United States

CRC Group is a Property and Casualty wholesale brokerage and MGA platform. CRC Group places over $30 billion of premiums through its specialty wholesale and underwriting insurance businesses. CRC Group is based in Birmingham, Alabama.

Buy $15.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-15 Safe-Guard

Atlanta, Georgia, United States

Safe-Guard is a provider of branded vehicle protection products in the finance and insurance space to the automotive, RV, marine and motorcycle/Powersports industries. The company primarily works with automotive original equipment manufacturers (OEMs) and auto dealers to design and administer protection products sold at auto dealerships. Safe-Guard was founded in 1992 and is based in Atlanta, Georgia.

Sell -