M&A Deal Summary

Validus Re Acquires Talbot Holdings

On May 15, 2007, Validus Re acquired insurance company Talbot Holdings from Olympus Partners and IA Capital Group for 410M USD

Acquisition Highlights
  • This is Validus Re’s 1st transaction in the Insurance sector.
  • This is Validus Re’s 3rd largest (disclosed) transaction.
  • This is Validus Re’s 1st transaction in Bermuda.

M&A Deal Summary
Date 2007-05-15
Target Talbot Holdings
Sector Insurance
Buyer(s) Validus Re
Sellers(s) Olympus Partners
IA Capital Group
Deal Type Add-on Acquisition
Deal Value 410M USD

Target

Talbot Holdings

Hamilton, Bermuda
Talbot is a privately owned Bermuda-based company, which underwrites marine, property, financial institutions, contingency insurance.

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Buyer(S) 1

Buyer

Validus Re

Pembroke, Bermuda
Category Company
Founded 2005
Sector Insurance
Employees866
Revenue 2.4B USD (2016)
DESCRIPTION

Validus Re is a provider of reinsurance and insurance, conducting its operations worldwide through two wholly-owned subsidiaries, Validus Reinsurance, Ltd. and Talbot Holdings Ltd. The company is a Bermuda-based reinsurer focused on short-tail lines of reinsurance. Talbot is the Bermuda parent of the specialty insurance group primarily operating within the Lloyd's insurance market through Syndicate 1183. Validus Re was founded in 2005 and is based in Pembroke.

DEAL STATS #
Overall 1 of 5
Sector (Insurance) 1 of 5
Type (Add-on Acquisition) 1 of 3
Country (Bermuda) 1 of 1
Year (2007) 1 of 1
Size (of disclosed) 3 of 5
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-30 Flagstone Reinsurance Holdings

Luxembourg,, Luxembourg

Flagstone Reinsurance Holdings is a reinsurance company that provides coverage for property catastrophe risks and other selected short-tail property casualty risks.

Buy $623M

Seller(S) 2

SELLER

Olympus Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 8.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Olympus Partners is a private equity group focused on investing in growth companies with strong management, and positions in their respective markets. The Firm will consider both venture capital and private equity investments and looks to commit $50 to $300 million per transaction. The Firm focuses its investment activities within the business services, healthcare, financial services, consumer, restaurant, software/IT services, and logistics/transportation industries. Olympus Partners was formed in 1988 and is based in Stamford Connecticut.

DEAL STATS #
Overall 20 of 50
Sector (Insurance) 1 of 2
Type (Add-on Acquisition) 10 of 23
Country (Bermuda) 2 of 3
Year (2007) 2 of 2
Size (of disclosed) 8 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-09 TravelCenters of America

Westlake, Ohio, United States

TravelCenters of America is a full-service travel center network operating TA, Petro Stopping Centers, and TA Express brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants, travel stores, car and truck parking and other services dedicated to providing great experiences for its guests. TA is committed to sustainability, with its specialized business unit, eTA, focused on sustainable energy options for professional drivers and motorists. It operates over 600 full-service and quick-service restaurants and nine proprietary brands, including Iron Skillet and Country Pride. TravelCenters of America was founded in 1972 and is based in Westlake, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-28 Pepper Dining

Charlotte, North Carolina, United States

Pepper Dining Dining is a leading franchisee of Chili's Grill and Bar restaurants. The company operates over 90 restaurants in the Northeastern and mid-Atlantic region.

Buy $155M
SELLER

IA Capital Group

Westport, Connecticut, United States

Investor Investor Investor

Category Venture Capital Firm
Founded 1992
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Inter-Atlantic Group is a specialist private investment firm focused on opportunities within the financial and business services sectors. Specific sectors of interest include financial technology, banking, insurance, asset management and service providers to the financial services industry. The Firm primarily looks for opportunities based in the US. Inter-Atlantic was formed in 1992 and is based in New York City.

DEAL STATS #
Overall 4 of 15
Sector (Insurance) 1 of 2
Type (Add-on Acquisition) 3 of 6
Country (Bermuda) 1 of 2
Year (2007) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-15 BOLT Solutions

New York City, New York, United States

BOLT Solutions is a developer and marketer technology solutions for the insurance marketplace. The company’s software enables customers, P&C insurance carriers, agents, brokers and wholesalers to transmit and receive data in real-time and leverage existing systems to automatically interact with one another.

Buy $12M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-16 Red Vision Systems

Parsippany, New Jersey, United States

Red Vision Systems, Inc. is a independent provider of innovative Real Property Research solutions, combining experts and technology to improve service levels and the bottom line. RedVision serves users of title evidence looking for relevant and accurate information to make sound business decisions relating to real property transactions.

Buy -
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