M&A Deal Summary

Warburg Pincus and Temasek Holdings Acquire Banco Santander - Custody Business

On June 19, 2014, private equity firm Warburg Pincus and sovereign wealth fund Temasek Holdings acquired business services company Banco Santander - Custody Business from Banco Santander

Acquisition Highlights
  • This is Warburg Pincus’ 12th and Temasek Holdings’ 1st transaction in the Business Services sector.
  • This is Warburg Pincus’ 3rd and Temasek Holdings’ 1st transaction in Spain.

M&A Deal Summary

Date 2014-06-19
Target Banco Santander - Custody Business
Sector Business Services
Buyer(s) Warburg Pincus
Temasek Holdings
Sellers(s) Banco Santander
Deal Type Divestiture

Target

Banco Santander - Custody Business

Madrid, Spain
Banco Santander's Custody Business focuses on enhancing the products and services provided to customers through greater investment in technology platform and team. Banco Santander's Custody Business is based in Madrid, Spain.

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Buyer(S) 2

Buyer

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.


DEAL STATS #
Overall 258 of 492
Sector: Business Services M&A 12 of 21
Type: Divestiture M&A Deals 8 of 21
Country: Spain M&A 3 of 5
Year: 2014 M&A 18 of 25
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-05 Navitas Midstream

The Woodlands, Texas, United States

Navitas Midstream is a producer-focused midstream company that provides a full slate of midstream services including gathering, treating, processing, fractionation, and pipeline transportation of natural gas, natural gas liquids, condensate and crude oil. Navitas Midstream is based in The Woodlands, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-03 ANE Logistics

Shanghai, China

ANE Logistics is a Less Than Truckload (LTL) operator with a franchise model. ANE Logistics was founded in 2010 and is based in Shanghai, China.

Buy -
Buyer

Temasek Holdings

Investor Investor Investor Investor Investor


Category Sovereign Wealth Fund
Founded 1974
PE ASSETS 434.0B SGD
Size Mega
Type Sector Agnostic
DESCRIPTION

Temasek Holdings is a state-owned investment holding company. Temasek is owned by the government of Singapore and invests directly and indirectly in a broad range of assets and sectors. Target sectors include financial services, telecommunications, media, technology, transportation, industrials, life science, consumer, real estate, energy, and resources. Temasek was formed in 1974 and is based in Singapore.


DEAL STATS #
Overall 13 of 50
Sector: Business Services M&A 1 of 2
Type: Divestiture M&A Deals 1 of 2
Country: Spain M&A 1 of 1
Year: 2014 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-21 A.S. Watson

Hong Kong, China

A.S. Watson is an operator of retail chains specializing in health, beauty, and lifestyle products. A.S. Watson is based in Hong Kong, China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-16 Adyen

Amsterdam, Netherlands

Adyen is a global technology company focused on payments. It has built an efficient single platform that enables the acceptance and processing of cards and local payments globally across its merchants' online, mobile and point of sale channels. Adyen's global platform has integrated and simplified the payments value chain, enabling it to partner with large merchants to rapidly scale their businesses both locally and globally, without the varied inefficiencies inherent in traditional payment platforms. Adyen was founded in 2006 and is based in Amsterdam, Netherlands.

Buy -

Seller(S) 1

SELLER

Banco Santander

Madrid, Spain

Category Company
Founded 1856
Sector Financial Services
Employees206,736
Revenue 63.8B EUR (2024)
DESCRIPTION

Banco Santander is a financial group operating principally in Spain, the UK, Portugal, and Brazil. Banco Santander is a provider of commercial and retail banking financial services. Banco Santander was founded in 1856 and is based in Madrid, Spain.


DEAL STATS #
Overall 2 of 6
Sector: Business Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 4
Country: Spain M&A 1 of 2
Year: 2014 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-30 Santander Asset Management

Glasgow, United Kingdom

Santander Asset Management is the asset management division of the Santander Group, the largest bank in the Eurozone by market capitalization. Santander Asset Management is present in 11 countries in Europe, Latin America and North America and has asset under management of over EUR 152 billion through mutual funds, pension funds and institutional mandates which invest in a wide range of underlying assets.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-22 Cubico Sustainable Investments

London, United Kingdom

Cubico Sustainable Investments manages and invests in renewable energy assets globally. They are currently operating in Brazil, Italy, Ireland, Mexico, Portugal, Spain, the United Kingdom and Uruguay. Cubico Sustainable Investments was founded in 2015 and is based in London, England.

Sell -