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  6. Truist Acquires Stanley Hunt DuPree & Rhine

M&A Deal Summary

Truist Acquires Stanley Hunt DuPree & Rhine

On July 1, 2002, Truist acquired business services company Stanley Hunt DuPree & Rhine

Acquisition Highlights
  • This is Truist’s 2nd transaction in the Business Services sector.
  • This is Truist’s 31st transaction in the United States.
  • This is Truist’s 4th transaction in South Carolina.

M&A Deal Summary
Date 2002-07-01
Target Stanley Hunt DuPree & Rhine
Sector Business Services
Buyer(s) Truist
Deal Type Add-on Acquisition

Target

Stanley Hunt DuPree & Rhine

Greenville, South Carolina, United States
Stanley, Hunt, DuPree & Rhine, Inc. is a single-source benefit solutions provider, offering employee benefit consulting, plan administration, and record-keeping services to businesses of all sizes.

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Buyer(S) 1

Buyer

Truist

Charlotte, North Carolina, United States
Category Company
Founded 1872
Sector Financial Services
Employees36,769
Revenue 13.3B USD (2024)
DESCRIPTION
BB&T's corporate headquarters in Winston-Salem, North Carolina.
BB&T's corporate headquarters in Winston-Salem, North Carolina.

Truist is a financial services company. The company offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Truist was founded in 1872 and is headquartered in Charlotte, North Carolina.

DEAL STATS #
Overall 31 of 50
Sector: Business Services M&A 2 of 2
Type: Add-on Acquisition M&A Deals 31 of 45
State: South Carolina M&A 4 of 5
Country: United States M&A 31 of 50
Year: 2002 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-03-21 Area Bancshares

Owensboro, Kentucky, United States

AREA banks provide a range of financial services, owns two commercial banks and one non-depository trust company.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-10-03 FloridaFirst Bancorp

Lakeland, Florida, United States

FloridaFirst Bancorp, Inc. is a provider of full-service banking services. FloridaFirst Bank is a community financial institution that focuses on excellent credit quality and client service.

Buy $135M
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