M&A Deal Summary

Stone Point Capital and PSP Investments Acquire SitusAMC

On January 6, 2015, private equity firm Stone Point Capital and pension PSP Investments acquired business services company SitusAMC from WL Ross

Acquisition Highlights
  • This is Stone Point Capital’s 12th and PSP Investments’ 1st transaction in the Business Services sector.
  • This is Stone Point Capital’s 55th and PSP Investments’ 3rd transaction in the United States.
  • This is Stone Point Capital’s 13th and PSP Investments’ 1st transaction in New York.

M&A Deal Summary
Date 2015-01-06
Target SitusAMC
Sector Business Services
Buyer(s) Stone Point Capital
PSP Investments
Sellers(s) WL Ross
Deal Type Secondary Buyout

Target

SitusAMC

New York, New York, United States
SitusAMC is a provider of end-to-end strategic business solutions and integrated process and technology solutions for the financial services Industry, and also has offered customized services to leading financial institutions, investors, owners, and developers. SitusAMC was founded in 1985 and is based in New York City.

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Buyer(S) 2

Buyer

Stone Point Capital

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 25.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Stone Point Capital is a private equity firm that targets investments in financial services sector. Specific areas of interest include insurance underwriting, outsourcing service providers to financial institutions, specialty lending and other credit opportunities, employee benefits and healthcare, asset management/retirement savings, and banking/depository institutions. Stone Point looks to commit between $5 and $500 million of equity per transaction and will consider control or substantial minority positions. Geographic areas of interest include North America and Europe. Stone Point Capital was formed in 1994 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 66 of 114
Sector (Business Services) 12 of 20
Type (Secondary Buyout) 7 of 26
State (New York) 13 of 19
Country (United States) 55 of 101
Year (2015) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-20 AAM

Chicago, Illinois, United States

AAM is an asset management firm providing fixed income asset management services to insurance companies. The company manages core fixed income assets on behalf of property & casualty and life insurance clients and offers convertible bond and high yield products through sub-advisory relationships.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-31 Black Mountain Systems

San Diego, California, United States

Black Mountain Systems is a software company that develops tailored solutions for data aggregation, process management, and business reporting. Global investment firms use Black Mountain's proven Everest platform to add operating efficiency and reduce risk by eliminating the boundaries between systems, information, and people, allowing employees to focus on high-value activities that drive investment performance. Black Mountain Systems is based in San Diego, California.

Buy -
Buyer

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 6 of 29
Sector (Business Services) 1 of 2
Type (Secondary Buyout) 2 of 9
State (New York) 1 of 2
Country (United States) 3 of 11
Year (2015) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-23 Wittur

Scheibbs, Austria

Wittur is a distributor of components for the elevator industry. Core products include doors, safety components, and gearless drives, as well as cars, slings, counterweight frames, and hydraulic drives. Wittur was founded in 1968 and is based in Scheibbs, Austria.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-23 Alliant Insurance Services

Irvine, California, United States

Alliant Insurance Services is a retail insurance broker providing property and casualty insurance and employee benefits products to over 15,000 commercial middle market clients nationwide. Alliant Insurance Services was founded in 1925 and is based in Newport Beach, California.

Buy -

Seller(S) 1

SELLER

WL Ross

New York, New York, United States
Category Private Equity Firm
Founded 2000
PE ASSETS 11.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

WL Ross is a mega-sized alternative group focused on turnaround investments. WL Ross looks to invest in and restructure financially distressed companies and create new enterprises. The Firm will consider opportunities throughout the world, including North America, Asia, South America, Western Europe, and Central Asia. WL Ross typically targets businesses operating in traditional industries, including the steel, textile, coal, automotive, and financial services sectors. In 2006 asset manager Amvescap (now Invesco) purchased WL Ross from its founder. WL Ross was originally formed in 2000 and is based in New York City.

DEAL STATS #
Overall 1 of 4
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 3
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-16 Cascade Bancorp.

Bend, Oregon, United States

Cascade Bancorp. is a community bank in the Pacific Northwest operating under the name of Bank of the Cascades. Cascade offers full-service community banking through over 30 branches in Central Oregon, Southern Oregon, Portland/Salem and Boise/Treasure Valley.

Buy $177M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-20 VTG

Hamburg, Germany

VTG is a full-range service, providing tank cars, intermodal wagons, standard freight wagons and sliding wall wagons. In addition to the hiring of wagons, the Group offers comprehensive multi-modal logistics services, mainly around rail transport, and global tank container transports. VTG was founded in 1951 and is based in Hamburg, Germany.

Sell -
Mergr

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