M&A Deal Summary

Thomas H. Lee Partners and Genstar Capital Acquire Amerilife

On January 7, 2020, private equity firms Thomas H. Lee Partners and Genstar Capital acquired insurance company Amerilife from J.C. Flowers

Acquisition Highlights
  • This is Thomas H. Lee Partners’ 7th and Genstar Capital’s 11th transaction in the Insurance sector.
  • This is Thomas H. Lee Partners’ 60th and Genstar Capital’s 80th transaction in the United States.
  • This is Thomas H. Lee Partners’ 7th and Genstar Capital’s 2nd transaction in Florida.

M&A Deal Summary
Date 2020-01-07
Target Amerilife
Sector Insurance
Buyer(s) Thomas H. Lee Partners
Genstar Capital
Sellers(s) J.C. Flowers
Deal Type Recapitalization
Advisor(s) Evercore Group
Jefferies (Financial)

Target

Amerilife

Clearwater, Florida, United States
Amerilife engages in developing, marketing and distributing life and health insurance, annuities and retirement planning solutions to enhance the lives of pre-retirees and retirees. Amerilife was founded in 1971 and is based in Clearwater, Florida.

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Buyer(S) 2

Buyer

Thomas H. Lee Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1974
PE ASSETS 35.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thomas H. Lee Partners (THL) is a private equity firm that seeks buyout, expansion, consolidation, distressed, and recapitalization investments across various industries. Sectors of interest include business and information services, consumer products/retail, financial services, healthcare, industrial, and media/communications. THL looks to invest $100 to $400 million in companies valued up to $2.5 billion. THL was formed in 1974 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 71 of 90
Sector (Insurance) 7 of 7
Type (Recapitalization) 10 of 11
State (Florida) 7 of 7
Country (United States) 60 of 77
Year (2020) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-09 Centria Healthcare

Farmington Hills, Michigan, United States

Centria Healthcare is a provider of Applied Behavior Analysis (“ABA”) therapy for children. Centria Healthcare is also a provider of specialized home-based healthcare services including catastrophic injury and rehabilitation care, private duty nursing, and supportive living services. Centria Healthcare was founded in 2009 and is based in Farmington Hills, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-11 Bargain Hunt

Antioch, Tennessee, United States

Bargain Hunt is an extreme value retail chain that enables customers to buy quality brand name merchandise well below normal retail pricing. Bargain Hunt was founded in 2004 and is based in Antioch, Tennessee.

Sell -
Buyer

Genstar Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 49.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Genstar Capital is a private equity firm that seeks investments in life science, healthcare, medical products, industrial technology, software, financial services, packaging, building materials, manufacturing, and business services companies. Genstar looks to invest between $50 and $400 million of equity capital in businesses valued up to $1 billion. Target transaction situations include control-oriented leveraged buyouts of corporate divisions, privately held businesses or public companies, minority investments in privately held businesses or public companies, ownership restructurings/recapitalizations of privately held businesses, growth equity financings, partnerships with other strategic or financial buyers, and take privates. Genstar Capital was formed in 1988 and is based in San Francisco, California.

DEAL STATS #
Overall 87 of 109
Sector (Insurance) 11 of 14
Type (Recapitalization) 3 of 7
State (Florida) 2 of 5
Country (United States) 80 of 101
Year (2020) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-23 ECM Industries

New Berlin, Wisconsin, United States

ECM Industries is a manufacturer and supplier of electrical products for construction, maintenance, lighting, irrigation, landscape supply, and gas utility markets. ECM Industries is based in New Berlin, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-15 Pretium Packaging

Chesterfield, Missouri, United States

Pretium Packaging is a provider of custom, high-performance rigid plastic bottles, and containers, serving a diverse base of customers in the food and specialty beverage, healthcare, sports nutrition, personal care, beauty, and household products end markets. Pretium Packaging was established in 1992 and is based in Chesterfield, Missouri.

Sell -

Seller(S) 1

SELLER

J.C. Flowers

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 4.0B USD
Size Large
Type Sector Focused
DESCRIPTION

JC Flowers is a specialist private equity firm that targets investments in the financial services sector. JC Flowers looks for distressed opportunities in North America, Western Europe, and Asia. JC Flowers was formed in 1998 and is based in New York City with an additional office in London.

DEAL STATS #
Overall 11 of 16
Sector (Insurance) 3 of 6
Type (Recapitalization) 1 of 1
State (Florida) 1 of 1
Country (United States) 5 of 6
Year (2020) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-01 Acuon Capital

Seoul, South Korea

Acuon Capital Corp. is a consumer finance and leasing company. Acuon Capital Corp. is based in Seoul, South Korea.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-19 Fairstone Financial

Montreal, Ontario, Canada

Fairstone Financial, Inc. is a non-bank provider of responsible lending solutions for near-prime borrowers with over C$3 billion in assets on a consolidated basis. Fairstone, including through its predecessors, has close to a 100-year history of providing Canadians with access to responsible credit.

Sell -
Mergr

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