M&A Deal Summary

Sallie Mae Acquires Arrow Financial Services

On September 17, 2004, Sallie Mae acquired financial services company Arrow Financial Services from Parthenon Capital

Acquisition Highlights
  • This is Sallie Mae’s 3rd transaction in the Financial Services sector.
  • This is Sallie Mae’s 4th transaction in the United States.
  • This is Sallie Mae’s 1st transaction in Illinois.

M&A Deal Summary
Date 2004-09-17
Target Arrow Financial Services
Sector Financial Services
Buyer(s) Sallie Mae
Sellers(s) Parthenon Capital
Deal Type Add-on Acquisition
Advisor(s) William Blair (Financial)

Target

Arrow Financial Services

Niles, Illinois, United States
Arrow Financial Services LLC is a full-service accounts receivable management company that purchases charged-off debt, conducts contingency collection work and performs third-party receivables servicing across a number of consumer asset classes.

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Buyer(S) 1

Buyer

Sallie Mae

Newark, Delaware, United States
Category Company
Founded 1972
Sector Financial Services
Employees1,740
Revenue 1.8B USD (2023)
DESCRIPTION
Entrance to SallieMae's corporate headquarters in Newark, Delaware.
Entrance to SallieMae's corporate headquarters in Newark, Delaware.

Sallie Mae is a private student lending company that provides financing and know-how to support access to college and offers products and resources to help customers make new goals and experiences, beyond college, happen. Sallie Mae was founded in 1972 and is based in Newark, Delaware.

DEAL STATS #
Overall 4 of 8
Sector (Financial Services) 3 of 4
Type (Add-on Acquisition) 3 of 6
State (Illinois) 1 of 1
Country (United States) 4 of 8
Year (2004) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-11-18 Academic Management Services

Swansea, Massachusetts, United States

Academic Management Services Corp., is a provider of tuition budgeting programs and an originator of student loans.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-14 Student Loan Finance Association

Seattle, Washington, United States

Student Loan Finance Association, is a Northwest regional provider in education loan funding and acquisition.

Buy -

Seller(S) 1

SELLER

Parthenon Capital

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 5.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Parthenon Capital is a private equity firm focused on investing in service-based businesses with recurring revenues, defensible niches and competitive advantages. Parthenon looks for businesses valued between $75 and $750 million operating in sectors that include business services, financial services, manufacturing, technology-enabled services, and distribution/logistics. Prospective transaction types include recapitalizations, management buyouts, acquisitions, privatizations, and growth capital financings. Parthenon Capital was formed in 1998 and has offices in Boston, Massachusetts and San Francisco, California.

DEAL STATS #
Overall 1 of 34
Sector (Financial Services) 1 of 6
Type (Add-on Acquisition) 1 of 15
State (Illinois) 1 of 2
Country (United States) 1 of 34
Year (2004) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-10 AccuMed Home Health Care

Denton, Texas, United States

AccuMed Home Health Care is a provider of home nursing with a focus on serving medicare beneficiaries.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-01 Spheris

Franklin, Tennessee, United States

Spheris, Inc. is a provider of outsource medical transcription services to acute-care hospitals and group medical practices.

Sell -
Mergr

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