M&A Deal Summary

Madison Dearborn Partners Acquires Great Gray Trust

On December 19, 2022, private equity firm Madison Dearborn Partners acquired financial services company Great Gray Trust from Wilmington Trust

Acquisition Highlights
  • This is Madison Dearborn Partners’ 7th transaction in the Financial Services sector.
  • This is Madison Dearborn Partners’ 83rd transaction in the United States.
  • This is Madison Dearborn Partners’ 1st transaction in Nevada.

M&A Deal Summary

Date 2022-12-19
Target Great Gray Trust
Sector Financial Services
Buyer(s) Madison Dearborn Partners
Sellers(s) Wilmington Trust
Deal Type Divestiture

Target

Great Gray Trust

Las Vegas, Nevada, United States
Great Gray Trust is a service provider to collective investment trust (“CIT”) asset managers and qualified retirement plans and their advisors. Great Gray provides trustee services, including managing and monitoring the CIT’s investment advisors and their compliance with the CIT’s investment policy. Great Gray also provides critical administrative services, including regulatory compliance, governance and reporting, fund onboarding, and fund audit and accounting, as well as sales support. Great Gray Trust is based in Las Vegas, Nevada.

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Buyer(S) 1

Buyer

Madison Dearborn Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 31.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Madison Dearborn Partners (MDP) is a large private equity firm that targets buyouts of private or publicly held companies, divestitures of larger companies, recapitalizations of family-owned or closely-held companies, acquisition-oriented financings, and financings to fund internal growth. MDP's target investment size is $100 to $600 million in buyout oriented transactions and $100 to $400 million in growth capital commitments. Areas of interest include basic industries (natural resources, chemicals, energy and power, automotive, building products, food, metals and mining, refining, paper, packaging and forest products, and general manufacturing), as well as communications, consumer products/services, financial services, and healthcare. Madison Dearborn Partners was formed in 1992 and is based in Chicago, Illinois.


DEAL STATS #
Overall 97 of 104
Sector: Financial Services M&A 7 of 7
Type: Divestiture M&A Deals 10 of 11
State: Nevada M&A 1 of 1
Country: United States M&A 83 of 90
Year: 2022 M&A 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-08 Alcami

Wilmington, North Carolina, United States

Alcami is a fully-integrated end-to-end contract development and manufacturing organization. Alcami serves pharmaceutical and biotech companies of all sizes providing customizable and innovative solutions for analytical development, clinical to commercial sterile and oral solid manufacturing, packaging, microbiology, cGMP biostorage, environmental monitoring, and pharmaceutical support services. Alcami was founded in 1979 and is based in Wilmington, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-01 Air Control Concepts

Norfolk, Virginia, United States

Air Control Concepts is a company that partners with and supports commercial HVAC solutions providers. Air Control Concepts is based in Norfolk, Virginia.

Buy -

Seller(S) 1

SELLER

Wilmington Trust

Wilmington, Delaware, United States

Category Company
Founded 1901
Sector Financial Services
Employees2,716
DESCRIPTION

Wilmington Trust Corp. is a comprehensive array of personal trust, financial planning, fiduciary, asset management, and family office services that help high-net-worth individuals and families grow, preserve, and transfer wealth.


DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Nevada M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2022 M&A 1 of 1