M&A Deal Summary |
|
|---|---|
| Date | 2020-11-02 |
| Target | Somers Re |
| Sector | Insurance |
| Buyer(s) |
Warburg Pincus
Kelso Arch Capital |
| Deal Type | Going Private |
| Advisor(s) | Morgan Stanley (Financial) Cahill Gordon & Reindel Clifford Chance (Legal) |
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| Category | Private Equity Firm |
|---|---|
| Founded | 1966 |
| PE ASSETS | 83.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
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 | 429 of 482 |
| Sector (Insurance) | 14 of 17 |
| Type (Going Private) | 10 of 11 |
| Country (Bermuda) | 4 of 4 |
| Year (2020) | 14 of 18 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2020-11-02 |
Service Logic
Charlotte, North Carolina, United States Service Logic is an independent provider of aftermarket maintenance, repair, and replacement services for commercial HVAC equipment, chilled water systems, and building automation and control systems. Service Logic was formed in 1945 and is based in Denver, Colorado. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2020-11-03 |
Sweeping of America
Cleveland, Ohio, United States Sweeping Corporation of America is a power sweeping services company in the United States. SCA self-performs power sweeping for highways, streets, industrial and commercial applications for both private and government entities. Sweeping Corporation of America was formed in 1988 and is based in Cleveland, Ohio. |
Buy | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1971 |
| PE ASSETS | 15.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
Kelso & Company is a private equity and investment management firm that seeks control investments in middle-market companies operating primarily throughout the US. Sectors of interest include manufacturing, communications, media, distribution, service, consumer products, retail, healthcare, transportation, logistics, textiles, & apparel, chemicals, and energy. Kelso looks to align 'management's interest with those of investors' when considering opportunities. Kelso & Company was formed in 1971 and is based in New York City.
| DEAL STATS | # |
|---|---|
| Overall | 70 of 81 |
| Sector (Insurance) | 5 of 5 |
| Type (Going Private) | 4 of 4 |
| Country (Bermuda) | 3 of 3 |
| Year (2020) | 1 of 3 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2019-12-10 |
Venari Resources
Addison, Texas, United States Venari Resources LLC is an exploration and production company focused on the prolific oil-prone subsalt region in the Gulf of Mexico’s deep waters. Venari’s strategy centers on the exploration and development of high-potential oil prospects, initially through the acquisition of minority interests in prospects generated by capable operators and later through the generation of its own prospects. Venari Resources was formed in 2012 and is based in Addison, Texas. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2020-11-13 |
US LBM
Atlanta, Georgia, United States US LBM is a distributor of specialty building materials and offering a comprehensive portfolio of specialty products, including windows, doors, millwork, wallboard, roofing, siding, engineered components, and cabinetry, US LBM combines the scale and operational advantages of a national platform with a local go-to-market strategy through its national network of locations across the country. US LBM was founded in 2009 and is based in Atlanta, Georgia. |
Sell | - |
| Category | Company |
|---|---|
| Founded | 1995 |
| Sector | Insurance |
| Employees | 6,400 |
| Revenue | 13.3B USD (2023) |
Arch Capital is a reinsurance and insurance company. The proceeds of this financing were used to launch a major underwriting initiative to meet current and future demand in the global insurance marketplace. Arch Capital was founded in 1995 and is based in Pembroke, Bermuda.
| DEAL STATS | # |
|---|---|
| Overall | 10 of 13 |
| Sector (Insurance) | 9 of 12 |
| Type (Going Private) | 1 of 1 |
| Country (Bermuda) | 2 of 2 |
| Year (2020) | 2 of 2 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2020-02-14 |
Precision Marketing Asia Pacific Pty
Sydney, Australia Precision Marketing Asia Pacific Pty Ltd. provides data-driven marketing solutions to banks, insurance companies, retailers and health care organizations across the Asia-Pacific region. Precision Marketing Asia Pacific was founded in 2009 and is based in Sydney, Australia. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2021-03-17 |
Westpac Lenders Mortgage Insurance
Sydney, Australia Westpac Lenders Mortgage Insurance is a based in mortgage insurance (LMI) provider. Westpac Lenders Mortgage Insurance was founded in 1996 and is based in Sydney, Australia. |
Buy | - |
