M&A Deal Summary

PCG Capital Partners and Fortress Acquire Alea Group Holdings Bermuda

On June 15, 2007, private equity firm PCG Capital Partners and asset manager Fortress acquired insurance company Alea Group Holdings Bermuda for 460M USD

Acquisition Highlights
  • This is PCG Capital Partners’ 1st and Fortress’ 1st transaction in the Insurance sector.
  • This is PCG Capital Partners’ and Fortress’ 15th largest (disclosed) transaction.
  • This is PCG Capital Partners’ 1st and Fortress’ 1st transaction in Bermuda.
Investment Fate
  • Alea Group Holdings Bermuda was sold to a strategic buyer in 2013.

M&A Deal Summary
Date 2007-06-15
Target Alea Group Holdings Bermuda
Sector Insurance
Buyer(s) PCG Capital Partners
Fortress
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 460M USD

Target

Alea Group Holdings Bermuda

Hamilton, Bermuda
Alea is a worldwide provider of reinsurance, insurance, financial, and alternative risk products headquartered in Hamilton, Bermuda.

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Buyer(S) 2

Buyer

PCG Capital Partners

La Jolla, California, United States
Category Private Equity Firm
Founded 1993
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

PCG Capital Partners (PCG) is the direct private equity investment arm of the Pacific Corporate Group, an investment firm that also manages private equity fund investments. PCG provides non-control equity capital to help fund growth initiatives at both public and private companies. Sectors of interest span business services, consumer, energy, financial services, healthcare, industrial, and communications. PCG looks to commit between $15 and $75 million of capital per transaction. The Firm's geographic preference is for North American based opportunities. PCG was formed in 1993 and is based in La Jolla, California.

DEAL STATS #
Overall 6 of 9
Sector (Insurance) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 3 of 3
Country (Bermuda) 1 of 1
Year (2007) 2 of 3
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-09 Aecom

Dallas, Texas, United States

Aecom is a global provider of professional technical and management support services for public and private clients around the world. Aecom provides planning, consulting, architectural and engineering design, and program and construction management services for a broad range of projects, including highways, airports, bridges, mass transit systems, government and commercial buildings, water and wastewater facilities, and power transmission and distribution. AECOM was formed in 1980 and is based in Dallas, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-01 ORBCOMM

Sterling, Virginia, United States

ORBCOMM is a wireless data communications company, provides machine-to-machine communication solutions. ORBCOMM was founded in 2001 and is based in Sterling, Virginia.

Sell -
Buyer

Fortress

New York, New York, United States
Category Asset Manager
Founded 1998
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Fortress is a public investment firm that manages hedge fund, credit, and private equity investments. Fortress' private equity practice primarily makes control-oriented investments in North American and Western European businesses with significant asset-bases and strong cash-flows. Fortress is open to investing in a wide range of sectors, however the Firm has tended towards capital intensive sectors. These include transportation, financials, senior living/healthcare, real estate, media & telecommunications, leisure and energy infrastructure. The pivate equity group also invests in publicly traded alternative investment vehicles, which Fortress refers to as 'castles' that primarily invest in real estate and real estate related debt. Fortress was formed in 1998 and is based in New York City.

DEAL STATS #
Overall 22 of 45
Sector (Insurance) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 9 of 14
Country (Bermuda) 1 of 1
Year (2007) 4 of 7
Size (of disclosed) 15 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-08 Florida East Coast Industries

Miami, Florida, United States

Florida East Coast Industries operates through four distinct business lines including Brightline, the United States’ first privately owned, operated and maintained intercity passenger rail system; Flagler Global Logistics, an integrated logistics company that offers a wide range of logistics services and real estate solutions; Parallel Infrastructure, a national developer, owner, operator, and manager of telecommunications towers for the wireless industry; and Flagler, a full service commercial real estate company. Florida East Coast Industries is based in Miami, Florida.

Buy $3.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-27 Green Tree Servicing

St. Paul, Minnesota, United States

Green Tree Servicing LLC provides home loan servicers in the United States.

Sell -
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