M&A Deal Summary

The Carlyle Group Acquires Hermes

On August 17, 2015, private equity firm The Carlyle Group acquired financial services company Hermes from Scotia Bank

Acquisition Highlights
  • This is The Carlyle Group’s 38th transaction in the Financial Services sector.
  • This is The Carlyle Group’s 1st transaction in Peru.
Investment Fate
  • Hermes was sold to a consortium of financial buyers in 2020.

M&A Deal Summary

Date 2015-08-17
Target Hermes
Sector Financial Services
Buyer(s) The Carlyle Group
Sellers(s) Scotia Bank
Deal Type Divestiture

Target

Hermes

Lima, Peru
Hermes is a provider of cash management services with a nationwide network of 18 branches, 228 armored vehicles. Hermes offers logistics, cash processing, and custody services to a blue-chip client base comprised of more than 1,000 active clients in the financial, retail, utilities and mining segments. Hermes is a mission-critical partner to the largest financial institutions and retail organizations in Peru. Hermes was founded in 1985 and is based in Lima, Peru.

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Buyer(S) 1

Buyer

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 538 of 749
Sector: Financial Services M&A 38 of 48
Type: Divestiture M&A Deals 56 of 74
Country: Peru M&A 1 of 4
Year: 2015 M&A 28 of 41
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-17 DEE Piping Systems

Faridabad, India

DEE Piping Systems is a manufacturer of high pressure piping systems, induction pipe bends and pipe fittings for thermal power plant projects (gas, coal, nuclear), petroleum & natural gas projects, and process plant projects. DEE Piping Systems was founded in 1983 and is based in Faridabad, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-25 Expertia Travel

Lima, Peru

Expertia Travel is a tourism holding that brings together emblematic tourism companies. Expertia Travel is based in Lima, Peru.

Buy -

Seller(S) 1

SELLER

Scotia Bank

Toronto, Ontario, Canada

Category Company
Founded 1832
Sector Financial Services
Employees87,317
Revenue 33.6B CAD (2024)
DESCRIPTION
Scotiabank branch in London, Ontario.
Scotiabank branch in London, Ontario.

Scotia Bank offers personal, commercial, corporate and investment banking products and services through global team of more than 75,000 Scotiabankers. Scotia Bank was incorporated in 1832 and is based in Toronto, Ontario.


DEAL STATS #
Overall 1 of 3
Sector: Financial Services M&A 1 of 3
Type: Divestiture M&A Deals 1 of 3
Country: Peru M&A 1 of 1
Year: 2015 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-15 ING Bank of Canada

Toronto,, Ontario, Canada

ING Bank of Canada, operates as a direct bank that provides banking products and services to Canadians.

Buy CA$3.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-26 The Bank of Nova Scotia - Puerto Rico and US Virgin Islands Operations

Puerto Rico

The Bank of Nova Scotia - Puerto Rico and US Virgin Islands Operations is a provider of financial services.

Sell $560M