M&A Deal Summary

Walter Investment Management Acquires Green Tree Servicing

On March 28, 2011, Walter Investment Management acquired financial services company Green Tree Servicing from Centerbridge Partners for 1.1B USD

Acquisition Highlights
  • This is Walter Investment Management’s 1st transaction in the Financial Services sector.
  • This is Walter Investment Management’s largest (disclosed) transaction.
  • This is Walter Investment Management’s 1st transaction in the United States.
  • This is Walter Investment Management’s 1st transaction in Minnesota.

M&A Deal Summary

Date 2011-03-28
Target Green Tree Servicing
Sector Financial Services
Buyer(s) Walter Investment Management
Sellers(s) Centerbridge Partners
Deal Type Add-on Acquisition
Deal Value 1.1B USD
Advisor(s) Morgan Stanley (Financial)
Willkie Farr & Gallagher (Legal)

Target

Green Tree Servicing

St. Paul, Minnesota, United States
Green Tree Servicing LLC provides home loan servicers in the United States.

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Buyer(S) 1

Buyer

Walter Investment Management

Tampa, Florida, United States

Category Company
Founded 1958
Sector Financial Services
Employees6,400
Revenue 473M USD (2012)
DESCRIPTION

Walter Investment Management Corp., together with its subsidiaries, provides business services to the residential mortgage industry in the United States. The company offers residential loan services that focuses on credit-sensitive residential and reverse mortgages; and provides a suite of services to the reverse mortgage sector, including servicing, sub-servicing, loan origination, asset management, and related technology. It also owns a mortgage portfolio of credit-challenged, non-conforming residential loans and reverse mortgage loans, as well as operates an insurance agency serving residential loan customers. The company was founded in 1958 and is based in Tampa, Florida.


DEAL STATS #
Overall 1 of 2
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Minnesota) 1 of 1
Country (United States) 1 of 2
Year (2011) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-01 Reverse Mortgage Solutions

Spring, Texas, United States

Reverse Mortgage Solutions, Inc. is a provider of reverse mortgage loan servicing, sub-servicing, and loan origination software.

Buy -

Seller(S) 1

SELLER

Centerbridge Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2005
PE ASSETS 38.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Centerbridge Partners is a mega-sized private equity firm focused primarily on distressed/special situations in North America and Europe. In addition to making control investments, Centerbridge also maintains funds for non-control credit investments. Centerbridge was formed in 2005 and is based in New York City.


DEAL STATS #
Overall 2 of 24
Sector (Financial Services) 2 of 5
Type (Add-on Acquisition) 1 of 9
State (Minnesota) 1 of 1
Country (United States) 2 of 22
Year (2011) 2 of 3
Size (of disclosed) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-28 BankUnited

Miami Lakes, Florida, United States

BankUnited is a bank holding company providing various commercial and consumer banking services. BankUnited was founded in 2009 and is based in Miami Lakes, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-31 Remedi SeniorCare

Baltimore, Maryland, United States

Remedi SeniorCare delivers comprehensive pharmacy services, pharmacy consulting, and data management services to nursing homes, assisted living, and continuing care retirement communities. The business is committed to helping these organizations achieve outstanding care, financial strength, and medication safety. Remedi combines their culture of caring with real-world pharmacy services and best-in-class technology to give organizations more time and resources and help them focus on caring for their residents. Remedi SeniorCare was formed in 1954 and is based in Baltimore, Maryland.

Buy -