M&A Deal Summary

OneMain Financial Acquires Ocean Finance and Mortgages

On January 2, 2007, OneMain Financial acquired financial services company Ocean Finance and Mortgages from AIG American General Finance

Acquisition Highlights
  • This is OneMain Financial’s 1st transaction in the Financial Services sector.
  • This is OneMain Financial’s 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2007-01-02
Target Ocean Finance and Mortgages
Sector Financial Services
Buyer(s) OneMain Financial
Sellers(s) AIG American General Finance
Deal Type Divestiture

Target

Ocean Finance and Mortgages

Tamworth,, United Kingdom
Ocean Finance and Mortgages Ltd. is a finance broker in the U.K., Ocean currently offers home owner loans, mortgages and remortgages (refinancing).

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Buyer(S) 1

Buyer

OneMain Financial

Evansville, Indiana, United States

Category Company
Founded 1912
Sector Financial Services
Employees9,000
Revenue 4.5B USD (2024)
DESCRIPTION

OneMain Financial is a consumer finance company focused on providing loan products to customers through a nationwide branch network and internet lending platform. OneMain Financial was founded in 1912 and is based in Evansville, Indiana.


DEAL STATS #
Overall 1 of 4
Sector: Financial Services M&A 1 of 4
Type: Divestiture M&A Deals 1 of 3
Country: United Kingdom M&A 1 of 1
Year: 2007 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-03 OneMain Financial

Evansville, Indiana, United States

OneMain Financial is a provider of personal loan services. OneMain Financial is based in Evansville, Indiana.

Buy $4.3B

Seller(S) 1

SELLER

AIG American General Finance

Evansville, Indiana, United States

Category Company
Sector Financial Services
DESCRIPTION

American General Finance, Inc., through its subsidiaries is engaged in the consumer finance and credit insurance business. The company, has assets of $27 billion and operates over 1,550 offices in 45 states, the United Kingdom, Puerto Rico and the U.S. Virgin Islands. Products and services are provided to more than 2 million families. The company offers direct consumer and home equity loans, retail sales financing, and other credit-related products.


DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
Country: United Kingdom M&A 1 of 1
Year: 2007 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-16 Ocean Finance and Mortgages

Tamworth,, United Kingdom

Ocean Finance and Mortgages Ltd. is a finance broker in the U.K., Ocean currently offers home owner loans, mortgages and remortgages (refinancing).

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-28 Matrix Direct

San Diego, California, United States

Matrix Direct is a direct marketer of term life insurance. Matrix Direct is licensed in 49 states and the District of Columbia, and has had a successful agency relationship with AIG American General since 2003.

Buy -