Investment Summary

The Carlyle Group and CIBC Invest In Butterfield

On March 1, 2010, private equity firm The Carlyle Group and CIBC invested in financial services company Butterfield

Investment Highlights
  • This is The Carlyle Group’s 16th and CIBC’s 2nd transaction in the Financial Services sector.
  • This is The Carlyle Group’s 1st and CIBC’s 1st transaction in Bermuda.
Investment Fate
  • Butterfield went public in 2016.

Investment Summary

Date 2010-03-01
Target Butterfield
Sector Financial Services
Investor(s) The Carlyle Group
CIBC
Deal Type Stake Purchase
Advisor(s) UBS Investment Bank (Financial)
Skadden, Arps, Slate, Meagher & Flom (Legal)

Target

Butterfield

Hamilton, Bermuda
Butterfiel is Bermuda’s first independent bank, and a specialist provider of international financial services. The Butterfield Group offers a full range of community banking services in Bermuda, Barbados and the Cayman Islands, encompassing retail and corporate banking and treasury activities. Butterfield was founded in 1784 and is based in Hamilton, Bermuda.

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Investor(S) 2

Investor

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 357 of 749
Sector: Financial Services M&A 16 of 48
Type: Stake Purchase M&A Deals 25 of 73
Country: Bermuda M&A 1 of 4
Year: 2010 M&A 3 of 32
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-01 Smart Powerr

Xi'an, China

Smart Powerr is a professional recycling energy service provider and we provide a full package of service to our customers, which include: design of waste to energy recycling systems for industrial applications; finance for the waste to energy recycling equipment and devices; civil construction; custom manufacture of waste to energy recycling equipment and devices to the order and specification of others; energy recycling services through operation of energy systems for industrial operations. Smart Powerr was founded is based in Xi'an, China.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-23 Vought Aircraft Industries

Dallas, Texas, United States

Vought Aircraft Industries, Inc. is a global manufacturer of aerostructures for commercial, military and business jet aircraft. Products include fuselages, wings, empennages, nacelles and helicopter cabins.

Sell $1.4B
Investor

CIBC

Toronto, Ontario, Canada

Category Company
Founded 1867
Sector Financial Services
Employees48,047
Revenue 25.5B CAD (2024)
DESCRIPTION

Canadian Imperial Bank of Commerce (CIBC) is a Canadian-based global financial institution serving personal banking and business clients. Through its three major business units - Retail and Business Banking, Wealth Management and Capital Markets, CIBC offers a full range of products and services through its global banking network, branches and offices. Canadian Imperial Bank of Commerce was founded in 1867 and is based in Toronto, Ontario.


DEAL STATS #
Overall 3 of 4
Sector: Financial Services M&A 2 of 3
Type: Stake Purchase M&A Deals 1 of 1
Country: Bermuda M&A 1 of 1
Year: 2010 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-04 Pulmonx

Redwood City, California, United States

Pulmonx is a medical technology company that provides devices for minimally invasive treatment of patients with Chronic Obstructive Pulmonary Disease (COPD). Pulmonx was founded in 1995 and is based in Redwood City, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-29 PrivateBancorp

Chicago, Illinois, United States

PrivateBancorp, Inc. is a provider of personalized financial services primarily to affluent individuals, professionals, owners of closely-held businesses and commercial real estate investors. PrivateBancorp, Inc., through its subsidiary The PrivateBank, delivers customized business and personal financial services to middle-market companies, as well as business owners, executives, entrepreneurs and families in all of the markets and communities it serves. The Company has 34 offices in 12 states and, as of March 31, 2016, had US$17.7 billion in assets.

Buy $3.8B