Investment Summary

Dragoneer Investment Group, SkyKnight Capital, PSP Investments and Genstar Capital Invest In AmWINS

On October 11, 2016, private equity firm Dragoneer Investment Group, private equity firm SkyKnight Capital, pension PSP Investments and private equity firm Genstar Capital invested in insurance company AmWINS from New Mountain Capital and American Capital

Investment Highlights
  • This is Dragoneer Investment Group’s 1st, SkyKnight Capital’s 1st, PSP Investments’ 2nd and Genstar Capital’s 7th transaction in the Insurance sector.
  • This is Dragoneer Investment Group’s 2nd, SkyKnight Capital’s 2nd, PSP Investments’ 6th and Genstar Capital’s 56th transaction in the United States.
  • This is Dragoneer Investment Group’s 1st, SkyKnight Capital’s 1st, PSP Investments’ 1st and Genstar Capital’s 4th transaction in North Carolina.

Investment Summary
Date 2016-10-11
Target AmWINS
Sector Insurance
Investor(s) Dragoneer Investment Group
SkyKnight Capital
PSP Investments
Genstar Capital
Sellers(s) New Mountain Capital
American Capital
Deal Type Stake Purchase

Target

AmWINS

Charlotte, North Carolina, United States
AmWINS is a distributor of insurance products, provides property and casualty products, group insurance programs, and administrative services to retail insurance agents. It provides brokerage services in the areas of property, casualty, financial risk, auto, construction, environmental, healthcare, life sciences, and public entity. AmWINS was founded in 1998 and is based in Charlotte, North Carolina.

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Investor(S) 4

Investor

Dragoneer Investment Group

Investor

Category Private Equity Firm
Founded 2012
Size Small
Type Sector Agnostic
DESCRIPTION

Dragoneer Investment Group is a growth-oriented investor in public and private companies throughout the US. Dragoneer Investment Group was established in 2012 and is headquartered in San Francisco, California.

DEAL STATS #
Overall 4 of 9
Sector (Insurance) 1 of 2
Type (Stake Purchase) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 2 of 6
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-01 Clearwater Analytics

Boise, Idaho, United States

Clearwater Analytics provides web-based, investment portfolio reporting and analytics for institutional investors, investment managers, custody banks, and electronic trading portals. Clearwater’s daily-aggregated and reconciled solutions deliver the highest level of portfolio transparency available on the market today for clients such as Cisco Systems, Oracle Corporation, Starbucks Corporation and Yahoo!. Clearwater Analytics was founded in 2004 and is based in Boise, Idaho.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-25 CampusLogic

Chandler, Arizona, United States

CampusLogic delivers SaaS technology that helps colleges and universities remove barriers in the financial aid process. The company currently helps nearly 800 schools increase enrollment, retention, and graduation rates with the most comprehensive platform of Student Financial Success products. CampusLogic was formed in 2011 and is based in Chandler, Arizona.

Buy -
Investor

SkyKnight Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2015
Size Small
Type Sector Agnostic
DESCRIPTION

SkyKnight Capital is a private equity firm focused on long-term investments in businesses requiring value-add strategies to achieve growth. SkyKnight will consider majority or minority investment situations and generally looks to commit $25 to $250 million per transaction. Sectors of interest include healthcare, financial services, and tech-enabled services. SkyKnight is headquartered in San Francisco, California.

DEAL STATS #
Overall 2 of 14
Sector (Insurance) 1 of 3
Type (Stake Purchase) 1 of 1
State (North Carolina) 1 of 3
Country (United States) 2 of 14
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-28 MedVet

Worthington, Ohio, United States

MedVet is an independent owner of specialty and emergency veterinary hospitals. MedVet was founded in 1988 and is based in Worthington, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-22 Heffernan Insurance Brokers

Walnut Creek, California, United States

Heffernan Insurance Brokers provides comprehensive business insurance, personal insurance, employee benefits, and financial services. Heffernan was formed in 1988 and is based in Walnut Creek, California.

Buy -
Investor

PSP Investments

Investor Investor Investor Investor Investor

Category Pension
Founded 1999
PE ASSETS 19.4B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

PSP Investments is a Canadian pension manager focused on a variety of investment strategies including public equities, real estate, private equity, infrastructure, private debt, and natural resources. The Firm's private equity group looks to back funds as well as make direct investments in partnership with managers. PSP will consider opportunities globally and will invest across a broad range of sectors, including financials, consumer, industrials, healthcare, technology, communications, and energy. PSP Investments is based in Ottawa.

DEAL STATS #
Overall 12 of 29
Sector (Insurance) 2 of 2
Type (Stake Purchase) 2 of 3
State (North Carolina) 1 of 1
Country (United States) 6 of 11
Year (2016) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-28 Keter Plastic

Herzliya, Israel

Keter Plastic is a manufacturers and marketers of resin-based household and garden consumer products, which are sold in 90 countries and found in more than 25,000 retail outlets worldwide. Keter Plastic was founded in 1948 and is based in Herzliya, Israel.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-07 AlixPartners

New York, New York, United States

AlixPartners is a performance improvement, corporate turnaround and financial advisory services firm. The AlixPartners' 'one-stop-shop' suite of services range from financial restructuring and operational performance improvement across all major corporate disciplines (manufacturing, supply chain, IT, sales & marketing, working capital, etc.), to financial advisory services (including financial reporting, corporate governance and investigations) to technology-enabled restructuring and claims management. AlixPartners was founded in 1981 and is based in New York.

Buy $2.5B
Investor

Genstar Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 49.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Genstar Capital is a private equity firm that seeks investments in life science, healthcare, medical products, industrial technology, software, financial services, packaging, building materials, manufacturing, and business services companies. Genstar looks to invest between $50 and $400 million of equity capital in businesses valued up to $1 billion. Target transaction situations include control-oriented leveraged buyouts of corporate divisions, privately held businesses or public companies, minority investments in privately held businesses or public companies, ownership restructurings/recapitalizations of privately held businesses, growth equity financings, partnerships with other strategic or financial buyers, and take privates. Genstar Capital was formed in 1988 and is based in San Francisco, California.

DEAL STATS #
Overall 61 of 109
Sector (Insurance) 7 of 14
Type (Stake Purchase) 1 of 2
State (North Carolina) 4 of 7
Country (United States) 56 of 101
Year (2016) 8 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-04 ConnectiveRx

Whippany, New Jersey, United States

ConnectiveRx is a provider of outsourced commercialization services to over 140 drug manufacturers. The Company works as a strategic partner to pharmaceutical brand teams, offering solutions that improve patient affordability, access, and adherence to traditional and specialty prescription medications. ConnectiveRx was founded in 2005 and is based in Whippany, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-22 Acrisure

Grand Rapids, Michigan, United States

Acrisure is a retail insurance brokerage offering comprehensive risk management and consulting solutions, including property & casualty, employee benefits, human resource outsourcing, loss & claims management, surety bonding and personal lines coverage. Acrisure was founded in 2005 and is based in Grand Rapids, Michigan.

Sell -

Seller(S) 2

SELLER

New Mountain Capital

New York, New York, United States
Category Private Equity Firm
Founded 2000
PE ASSETS 35.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

New Mountain Capital is a private investment firm focused on investment in public and private companies in a variety of industries. New Mountain generally invests $100 to $500 million per transaction and looks for businesses with strong market positions and high barriers to entry. New Mountain also prefers businesses that succeed in both good and bad economies. Sectors of interest include education, healthcare, business services, federal IT services, media, software, consumer products, logistics, financial services and technologies, and energy. New Mountain Capital was formed in 2000 and is based in New York City.

DEAL STATS #
Overall 19 of 45
Sector (Insurance) 3 of 3
Type (Stake Purchase) 1 of 2
State (North Carolina) 2 of 2
Country (United States) 17 of 42
Year (2016) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-11 Stroz Friedberg

New York, New York, United States

Stroz Friedberg is a specialized risk management firm built to help clients solve the complex challenges prevalent in today’s digital, connected and regulated business world. A global leader in cyber security with leading experts in digital forensics, incident response and security science; investigations; eDiscovery and due diligence, Stroz Friedberg works to maximize the health of an organization, ensuring its longevity, protection and resilience. Stroz Friedberg currently serves Fortune 100 companies, 80 percent of the AmLaw 100 and the Top 20 UK law firms.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-02 Camber

Huntsville, Alabama, United States

Camber Corp. is a provider of professional and management services for federal government agencies, specializing in information technology, decision support systems, training, engineering, and modeling and simulation, primarily within the Department of Defense.

Sell $380M
SELLER

American Capital

Category Private Equity Firm
Founded 1997
PE ASSETS 22.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Capital was a publicly traded buyout and mezzanine investment firm. American Capital invested in buyouts, growth capital financings, acquistion financings, and recapitalizations. The Firm looked to finance businesses with at least $4 million in EBITDA and valued between $20 and $500 million. American Capital ws a generalist firm with broad interest in traditional industries such as manufacturing, distribution, and services. American Capital's European investment affiliate is European Capital. European Capital looked to invest $10 to $600 million of equity, mezzanine, and/or senior debt in similar opportunities across Europe. American Capital was formed in 1997 and in January 2017, merged with Ares Capital Management.

DEAL STATS #
Overall 179 of 194
Sector (Insurance) 1 of 1
Type (Stake Purchase) 1 of 1
State (North Carolina) 3 of 3
Country (United States) 173 of 186
Year (2016) 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-13 Continental Structural Plastics

Auburn Hills, Michigan, United States

Continental Structural Plastics Inc. (CSP), is a manufacturer of compression-molded, reinforced plastics used in automotive and industrial end-products.

Sell $825M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-18 Onduline

Suresnes, France

Onduline is a manufacturing and marketing bitumen based roofing materials mainly roofing sheets and roof deck sheets. Onduline develops, produces and sells light building materials produced from recycled fibers and oil. Onduline was founded in 1944 and is based in Suresnes, France.

Sell -
Mergr

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