M&A Deal Summary

Lovell Minnick Partners Acquires CenterSquare

On September 20, 2017, private equity firm Lovell Minnick Partners acquired financial services company CenterSquare from The Bank of New York Mellon

Acquisition Highlights
  • This is Lovell Minnick Partners’ 31st transaction in the Financial Services sector.
  • This is Lovell Minnick Partners’ 34th transaction in the United States.
  • This is Lovell Minnick Partners’ 4th transaction in Pennsylvania.

M&A Deal Summary
Date 2017-09-20
Target CenterSquare
Sector Financial Services
Buyer(s) Lovell Minnick Partners
Sellers(s) The Bank of New York Mellon
Deal Type Divestiture

Target

CenterSquare

Plymouth Meeting, Pennsylvania, United States
CenterSquare is a global investment manager focused on actively managed public and private real estate strategies. CenterSquare manages investments for institutional investors and high net worth individuals throughout global markets and across public and private capital sectors. CenterSquare was founded in 1987 and is based in Conshohocken, Pennsylvania.

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Buyer(S) 1

Buyer

Lovell Minnick Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 3.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Lovell Minnick Partners is a private equity firm that targets investments in financial services companies located in North America and Europe. Specific areas of interest include asset management, financial planning, financial product distribution, outsource providers, specialty finance, and related administration and business services companies. The Firm looks to commit $40 to $150 million of equity capital per investment. Prospective transaction situations include divestitures, management buyouts, growth capital financings, and recapitalizations. Lovell Minnick was formed in 1999 and is headquartered in Radnor, Pennsylvania.

DEAL STATS #
Overall 36 of 55
Sector (Financial Services) 31 of 37
Type (Divestiture) 3 of 4
State (Pennsylvania) 4 of 6
Country (United States) 34 of 50
Year (2017) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-12 Trio Solution

Huntersville, North Carolina, United States

Trio Solution has provided a turnkey platform connecting medical providers, law firms, and patients seeking care. Trio’s provider solutions range from medical lien funding to revenue cycle management, helping healthcare providers manage their cash flow and working capital during the provision of care to patients in need. Trio Solution was founded in 2002 and is based in Huntersville, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-18 TortoiseEcofin

Overland Park, Kansas, United States

TortoiseEcofin engages in essential assets and income investing. Through its registered advisers, Tortoise provides investors access to differentiated active and passive investment solutions and market insights. TortoiseEcofin was founded in 2002 and is based in Overland Park, Kansas.

Buy -

Seller(S) 1

SELLER

The Bank of New York Mellon

New York, New York, United States
Category Company
Founded 1784
Sector Financial Services
Employees52,100
Revenue 17.3B USD (2023)
DESCRIPTION
BNY Mellon office outside of Wilmington, Delaware.
BNY Mellon office outside of Wilmington, Delaware.

The Bank of New York Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. The Bank of New York Mellon was founded in 1784 and is based in New York City.

DEAL STATS #
Overall 3 of 4
Sector (Financial Services) 1 of 2
Type (Divestiture) 3 of 4
State (Pennsylvania) 1 of 1
Country (United States) 3 of 3
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-05 Cutwater Holdings

Armonk, New York, United States

Cutwater Asset Management is a client-focused and solutions-based investment advisor focused exclusively on fixed income investments. With $22 billion in assets under management, Cutwater Asset Management ranks among the world's largest fixed-income only asset managers. Cutwater's model combines world-class investment expertise and risk management capabilities with exceptional client service, in-depth consultation, and extensive interaction between clients and the investment team.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-08 Milestone Group

Sydney, Australia

Milestone Group is a provider of fund management technology. Milestone Group provides advanced software solutions to the fund's management industry for asset managers, fund product manufacturers, fund distributors, life and pension companies, and fund service providers. Milestone Group is based in Sydney, Australia.

Buy -
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