M&A Deal Summary

Crescent Capital Group, Nautic Partners, GTCR and TA Associates Acquire Compbenefits

On January 1, 1993, mezzanine finance firm Crescent Capital Group, private equity firm Nautic Partners, private equity firm GTCR and private equity firm TA Associates acquired insurance company Compbenefits

Acquisition Highlights
  • This is Crescent Capital Group’s 1st, Nautic Partners’ 1st, GTCR’s 1st and TA Associates’ 2nd transaction in the Insurance sector.
  • This is Crescent Capital Group’s 1st, Nautic Partners’ 2nd, GTCR’s 1st and TA Associates’ 33rd transaction in the United States.
  • This is Crescent Capital Group’s 1st, Nautic Partners’ 1st, GTCR’s 1st and TA Associates’ 1st transaction in Georgia.
Investment Fate
  • Compbenefits was sold to a publicly-traded strategic buyer in 2007 for 360M USD.

M&A Deal Summary

Date 1993-01-01
Target Compbenefits
Sector Insurance
Buyer(s) Crescent Capital Group
Nautic Partners
GTCR
TA Associates
Deal Type Buyout (LBO, MBO, MBI)

Target

Compbenefits

Roswell, Georgia, United States
CompBenefits Corporation provides dental and vision care benefit plans in the United States.

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Buyer(S) 4

Buyer

Crescent Capital Group

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1991
PE ASSETS 48.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Crescent Capital is a provider of debt securities to middle-market companies. Crescent looks to issue senior bank loans, high yield bonds, mezzanine debt and distressed debt to fund a variety of needs. The FIrm's direct lending group looks to provide $10 to $30 million to sponsor-backed companies that generate $5 to $40 million of EBITDA. Crescent's mezzanine practice typically provides junior capital to support buyouts, recapitalizations, and refinancings. Crescent Capital was formed in 1991 and was originally known as TCW/Crescent Mezzanine. The Firm has offices in Los Angeles, Boston, New York, and London.


DEAL STATS #
Overall 1 of 67
Sector: Insurance M&A 1 of 3
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 20
State: Georgia M&A 1 of 3
Country: United States M&A 1 of 54
Year: 1993 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1995-12-01 Colorado Prime

Farmingdale, New York, United States

Colorado Prime Corporation, also known as Colorado Prime Foods, provides home delivery of food and non-food products in the United States. Its food products include beef, pork, veal, lamb, and poultry products; and prepared gourmet dishes. The company also offers non-food products, which include freezers, microwave ovens, barbecue grills, cookware, china and crystal, stainless flatware, and cutlery; and home entertainment products, such as televisions, camcorders, and personal computers, as well as groceries and household products.

Buy -
Buyer

Nautic Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Nautic Partners is a private equity firm focused on middle-market company investments based in the US. Nautic looks to invest $50 to $400 million of equity in businesses valued between $100 million and $1 billion. Nautic's industry focus is business services, manufacturing, healthcare, and communications. Prospective investment structures include buyouts, recapitalizations, consolidations, and growth financings. Nautic prefers majority investment positions. Nautic Partners was formed in 1986 and is based in Providence, Rhode Island.


DEAL STATS #
Overall 2 of 82
Sector: Insurance M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 2 of 33
State: Georgia M&A 1 of 6
Country: United States M&A 2 of 81
Year: 1993 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1993-01-01 Brooks Fiber Properties

St. Louis, Missouri, United States

Brooks Fiber Properties, Inc. is a provider of competitive local telecommunications services, with an emphasis on secondary markets, by aggressively pursuing switched services opportunities, further building out existing systems and expanding service offerings.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1995-11-15 Mom365

Maryland Heights, Missouri, United States

Mom365 is a provider of professional in-hospital newborn photography services in United States. Mom365 was founded in 1947 and is based in Maryland Heights, Missouri.

Buy $47M
Buyer

GTCR

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1980
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GTCR is a private equity firm that typically partners with management when pursuing acquisitions. The Firm looks to grow companies through build-on acquisitions, consolidations, and internal growth. GTCR will consider both equity and mezzanine capital commitments and concentrates its investment activity in consumer products & services, healthcare services, outsourced business services, technology, transaction processing, and pharma/medical products. GTCR was formed in 1980 and is based in Chicago, Illinois.


DEAL STATS #
Overall 1 of 157
Sector: Insurance M&A 1 of 8
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 29
State: Georgia M&A 1 of 8
Country: United States M&A 1 of 148
Year: 1993 M&A 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1993-08-02 Metamor Worldwide

Houston, Texas, United States

Metamor Worldwide (formerly CoreStaff, Inc.) is a IT services business. Metamor’s services included ERP implementation, network services, offshore development and maintenance, outsourced software engineering, web consulting, and IT staffing.

Buy -
Buyer

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 37 of 374
Sector: Insurance M&A 2 of 11
Type: Buyout (LBO, MBO, MBI) M&A Deals 21 of 75
State: Georgia M&A 1 of 9
Country: United States M&A 33 of 270
Year: 1993 M&A 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1993-01-01 Hummingbird

Toronto, Ontario, Canada

Hummingbird Ltd. is an enterprise software and solutions company that specializes in the development of decision-enabling web-based work environments.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1993-08-30 Vantage Health Systems

Memphis, Tennessee, United States

Vantage Health Systems, Inc. (Formerly VHA Long Term Care, Inc.) manages nursing homes and other long-term care facilities. The company was acquired by ServiceMaster (NYSE: SVM), a holding company that provides various services through its subsidiaries, in August 1993.

Sell -