M&A Deal Summary |
|
|---|---|
| Date | 2008-12-31 |
| Target | National City |
| Sector | Financial Services |
| Buyer(s) | PNC |
| Sellers(s) | Corsair Capital |
| Deal Type | Add-on Acquisition |
| Deal Value | 5.6B USD |
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| Category | Company |
|---|---|
| Founded | 1852 |
| Sector | Financial Services |
| Employees | 53,932 |
| Revenue | 21.5B USD (2023) |
PNC is a diversified financial services organizations providing consumer and business banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services. PNC was formed in 1922 and is based in Pittsburgh, Pennsylvania. PNC was founded in 1852 and is based in Pittsburgh, Pennsylvania.
| DEAL STATS | # |
|---|---|
| Overall | 8 of 17 |
| Sector (Financial Services) | 6 of 11 |
| Type (Add-on Acquisition) | 8 of 14 |
| State (Ohio) | 2 of 2 |
| Country (United States) | 8 of 17 |
| Year (2008) | 4 of 4 |
| Size (of disclosed) | 3 of 8 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2008-12-31 |
National City Insurance Group
Cleveland, Ohio, United States National City Insurance Group is a provider of various insurance products in the United States. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2010-07-01 |
Albridge
Pennington, New Jersey, United States Albridge is a provider of data management and financial technology solutions for financial services companies. Using patent-pending, state-of-the-art technology, Albridge Solutions collects, cleanses, and normalizes the transaction and position-level securities data it receives from settlement and clearing firms, data custodians, product companies as well as internal proprietary systems. Albridge was founded in 1999 and is based in Pennington, New Jersey. |
Buy | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1992 |
| Size | Large |
| Type | Sector Focused |
Corsair Capital is a private investment firm focused on investments in the financial services industry. Specific areas of interest include banks, insurance companies, credit card specialists, asset managers, private banks, mortgage lenders, financial technology firms, and finance companies. The Firm looks to invest between $50 to $100 million in companies with proven business models and 'meaningful' barriers to entry. Corsair will consider opportunities around the world, including the US, Europe, Latin America, and Asia. Prospective transactions include recapitalizations, growth capital financings, management buyouts, and special/distressed situations. Corsair Capital was originally established in 1992 and is based in New York City. Corsair has an additional office in London.
| DEAL STATS | # |
|---|---|
| Overall | 6 of 13 |
| Sector (Financial Services) | 5 of 6 |
| Type (Add-on Acquisition) | 3 of 6 |
| State (Ohio) | 1 of 1 |
| Country (United States) | 2 of 5 |
| Year (2008) | 1 of 1 |
| Size (of disclosed) | 1 of 5 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2008-06-23 |
Torus Insurance Holdings
Hamilton, Bermuda Torus Insurance offers a diversified and growing range of property, casualty and specialty insurance products, as well as reinsurance, to a global client base through its Bermuda, UK, and US based insurance subsidiaries. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2010-05-01 |
Enstar Group
Hamilton, Bermuda Enstar Group is a insurance run-off services company that specializes in acquiring and managing reserves associated with discontinued books of property & casualty insurance and reinsurance business on a global basis. Enstar Group was founded in 2001 and is based in Hamilton, Bermuda. |
Buy | - |
