M&A Deal Summary

Seguros Sura Acquires Proseguros S.A.

On January 27, 2011, Seguros Sura acquired insurance company Proseguros S.A. from Palmfund Management

Acquisition Highlights
  • This is Seguros Sura’s 1st transaction in the Insurance sector.
  • This is Seguros Sura’s 1st transaction in Dominican Republic.

M&A Deal Summary

Date 2011-01-27
Target Proseguros S.A.
Sector Insurance
Buyer(s) Seguros Sura
Sellers(s) Palmfund Management
Deal Type Add-on Acquisition

Target

Proseguros S.A.

Santo Domingo, Dominican Republic
Proseguros is a mid-sized leading insurance player in the Dominican Republic. It is mostly the casualty insurer focusing on the corporate market.

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Buyer(S) 1

Buyer

Seguros Sura

Lima, Peru

Category Company
Sector Insurance
DESCRIPTION

Seguros SURA provides various insurance products in Peru.


DEAL STATS #
Overall 1 of 1
Sector: Insurance M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
Country: Dominican Republic M&A 1 of 1
Year: 2011 M&A 1 of 1

Seller(S) 1

SELLER

Palmfund Management

Bogota, Colombia

Category Private Equity Firm
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

Palmfund Management is a private investment firm focused on acquiring interests in family-owned Latin American companies. Palmfund will invest across the capital structure (equity/mezzanine) and targets control investments of $15 to $50 million in transactions valued at least $30 million. The Firm generally pursues mature businesses, with proven business models, sustainable competitive advantages, and the ability to maintain profitability during recessions. Target geographies include Mexico, Peru, and Columbia. Palmfund has offices in Bogota, Mexico City, and White Plains, New York.


DEAL STATS #
Overall 2 of 3
Sector: Insurance M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 3
Country: Dominican Republic M&A 1 of 1
Year: 2011 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-18 Legal Publishing Group

Argentina

Legal Publishing Group publishes legal, tax and accounting information. Palmfund acquired 100% of these operations from the global provider of business information solutions.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-14 Colfondos S.A. Pensiones y Cesantias

Bogota, Colombia

Colfondos S.A. Pensiones y Cesantias is the fourth largest regulated pension fund administrator in Colombia.

Sell -