M&A Deal Summary

Kunoch and The Carlyle Group Acquire Diamond Bank

On August 24, 2014, Kunoch and private equity firm The Carlyle Group acquired financial services company Diamond Bank from Actis Capital

Acquisition Highlights
  • This is Kunoch’s 1st and The Carlyle Group’s 32nd transaction in the Financial Services sector.
  • This is Kunoch’s 1st and The Carlyle Group’s 1st transaction in Nigeria.
Investment Fate
  • Diamond Bank was sold to a publicly-traded strategic buyer in 2018.

M&A Deal Summary

Date 2014-08-24
Target Diamond Bank
Sector Financial Services
Buyer(s) Kunoch
The Carlyle Group
Sellers(s) Actis Capital
Deal Type Secondary Buyout

Target

Diamond Bank

Lagos, Nigeria
Diamond Bank Plc is a new generation universal bank in Nigeria, engaged in corporate, commercial and consumer banking.

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Buyer(S) 2

DESCRIPTION


DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
Country: Nigeria M&A 1 of 1
Year: 2014 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-01 Diamond Bank

Lagos, Nigeria

Diamond Bank Plc is a new generation universal bank in Nigeria, engaged in corporate, commercial and consumer banking.

Sell -
Buyer

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 499 of 749
Sector: Financial Services M&A 32 of 48
Type: Secondary Buyout M&A Deals 60 of 130
Country: Nigeria M&A 1 of 2
Year: 2014 M&A 20 of 31
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-19 Document Technologies

Atlanta, Georgia, United States

DTI is a privately held legal process outsourcing company in the US serving law firms and corporations. DTI helps its clients accelerate the changes they must make to remain competitive. DTI was founded in 1998 and is based in Atlanta, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-11 Ecovyst

Malvern, Pennsylvania, United States

Ecovyst is a worldwide producer of specialty inorganic performance chemicals, high-end catalysts and engineered glass beads for the consumer, oil & gas, transportation safety, specialty plastics and industrial markets. Ecovyst was founded in 1831 and is based in Malvern, Pennsylvania.

Sell -

Seller(S) 1

SELLER

Actis Capital

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 26.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Actis Capital is a private equity firm focused on investments in emerging markets. Actis segments its investment activity into three areas. These include private equity, energy, and real estate. Actis' private equity team looks for buyout and growth capital opportunities requiring at least $50 million in financing. Depending on the situation, Actis will consider both controlling and minority investment situations. Sectors of interest include financial services, consumer and retail, business services, and industrial. Actis' energy group seeks to invest in in a variety of energy and utility projects. Actis' real estate team invests equity capital in office, residential, industrial, hotel and retail projects. Actis Capital was established in 2004 and is based in London, United Kingdom.


DEAL STATS #
Overall 47 of 92
Sector: Financial Services M&A 6 of 10
Type: Secondary Buyout M&A Deals 8 of 17
Country: Nigeria M&A 3 of 5
Year: 2014 M&A 6 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-07 Alexander Forbes

Sandton, South Africa

Alexander Forbes is an insurance broker, asset multi-manager, and financial services company that impacts people’s lives by delivering insight and advice to individuals, employers, and retirement funds. Alexander Forbes was founded in 1935 and is based in Sandton, South Africa.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-05 Zuma Energia

Mexico City, Mexico

Zuma Energia is a energy company that develops, constructs and operates wind, solar and thermal generation projects in Mexico. Zuma Energia is based in Mexico City.

Buy $245M