M&A Deal Summary

Madison Dearborn Partners Acquires Wilmington Trust - CIT Business

On December 19, 2022, private equity firm Madison Dearborn Partners acquired financial services company Wilmington Trust - CIT Business from Wilmington Trust

Acquisition Highlights
  • This is Madison Dearborn Partners’ 7th transaction in the Financial Services sector.
  • This is Madison Dearborn Partners’ 82nd transaction in the United States.
  • This is Madison Dearborn Partners’ 1st transaction in Delaware.

M&A Deal Summary

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

Target

Wilmington Trust - CIT Business

Wilmington, Delaware, United States
Wilmington Trust - CIT Business is a provider of third-party trustee and administrative services to asset managers and the employer-sponsored retirement market. Wilmington Trust's CIT Business is based in Wilmington, Delaware.

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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 28.0B 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 96 of 99
Sector (Financial Services) 7 of 7
Type (Divestiture) 10 of 10
State (Delaware) 1 of 1
Country (United States) 82 of 85
Year (2022) 5 of 5
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
2023-04-20 Liquid Web

Lansing, Michigan, United States

Liquid Web provides complex web hosting and managed cloud services to more than 30,000 customers worldwide across five high-performance data centers in the U.S. and in Amsterdam. The company is known for its premier Heroic Support platform, which delivers highly technical customer support across its server and hosting products. Liquid Web was founded in 1997 and is based in Lansing, Michigan.

Sell -

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) 1 of 1
Type (Divestiture) 1 of 1
State (Delaware) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1