M&A Deal Summary

Piper Jaffray Acquires Sandler O’Neill Partners Holdings

On July 9, 2019, Piper Jaffray acquired financial services company Sandler O’Neill Partners Holdings from Kelso and The Carlyle Group for 485M USD

Acquisition Highlights
  • This is Piper Jaffray’s 7th transaction in the Financial Services sector.
  • This is Piper Jaffray’s largest (disclosed) transaction.
  • This is Piper Jaffray’s 7th transaction in the United States.
  • This is Piper Jaffray’s 1st transaction in New York.

M&A Deal Summary
Date 2019-07-09
Target Sandler O’Neill Partners Holdings
Sector Financial Services
Buyer(s) Piper Jaffray
Sellers(s) Kelso
The Carlyle Group
Deal Type Add-on Acquisition
Deal Value 485M USD
Advisor(s) Wachtell, Lipton, Rosen & Katz (Legal)

Target

Sandler O’Neill Partners Holdings

New York, New York, United States
Sandler O’Neill Partners Holdings LLC is a full-service investment banking firm focused on the financial services sector.

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Buyer(S) 1

Buyer

Piper Jaffray

Minneapolis, Minnesota, United States
Category Company
Founded 1985
Sector Financial Services
Employees1,026
Revenue 525M USD (2013)
DESCRIPTION

Piper Jaffray is a full-service investment bank and asset management firm focused on mergers and acquisitions, financial restructuring, public offerings, public finance, institutional brokerage, investment management and securities research.

DEAL STATS #
Overall 8 of 8
Sector (Financial Services) 7 of 7
Type (Add-on Acquisition) 6 of 6
State (New York) 1 of 1
Country (United States) 7 of 7
Year (2019) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-20 BMO Capital Markets GKST

Chicago, Illinois, United States

BMO Capital Markets GKST, Inc. is a a provider of brokerage services.

Buy -

Seller(S) 2

SELLER

Kelso

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1971
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kelso & Company is a private equity and investment management firm that seeks control investments in middle-market companies operating primarily throughout the US. Sectors of interest include manufacturing, communications, media, distribution, service, consumer products, retail, healthcare, transportation, logistics, textiles, & apparel, chemicals, and energy. Kelso looks to align 'management's interest with those of investors' when considering opportunities. Kelso & Company was formed in 1971 and is based in New York City.

DEAL STATS #
Overall 41 of 53
Sector (Financial Services) 2 of 3
Type (Add-on Acquisition) 21 of 24
State (New York) 6 of 6
Country (United States) 35 of 46
Year (2019) 4 of 5
Size (of disclosed) 5 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-27 Delphin Shipping

New York, New York, United States

Delphin Shipping LLC is an owner of dry bulk ships.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-17 Individual FoodService

Bell, California, United States

Individual FoodService distributes paper, plastic, packaging, food, janitorial, sanitation and smallware products to independent restaurants, quick-service restaurants, healthcare facilities, hospitality establishments, country clubs, schools, universities, government institutions, wholesalers, food processors, and food service management institutions. Individual FoodService is based in Bell, California.

Buy -
SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.

DEAL STATS #
Overall 375 of 480
Sector (Financial Services) 29 of 33
Type (Add-on Acquisition) 163 of 197
State (New York) 13 of 18
Country (United States) 212 of 259
Year (2019) 17 of 23
Size (of disclosed) 60 of 135
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-05 KLDiscovery

Eden Prairie, Minnesota, United States

KLDiscovery is a provider of tech-enabled information discovery and governance solutions. The Company’s solutions help clients to optimize outcomes in corporate litigation and regulatory investigations and to meet compliance requirements. KLDiscovery offers a comprehensive suite of E-Discovery services, which are powered by the Company’s proprietary technology. In addition, KLDiscovery offers select, complementary information governance solutions which allow clients to manage data in one comprehensive, unified solution. KLDiscovery was founded in 1985 and is based in Eden Prairie, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-11 HSO

Veenendaal, Netherlands

HSO is a technology and professional services company, delivering successful business transformation using Microsoft cloud business applications, data, and analytics to improve the results of our customers. HSO is based in Veenendaal, Netherlands.

Buy -
Mergr

Product

Company

Legal