M&A Deal Summary

Wand Partners Acquires Prosperity Life Insurance Group

On March 14, 2018, private equity firm Wand Partners acquired insurance company Prosperity Life Insurance Group from Black Diamond Capital Partners and Reservoir Capital Group

Acquisition Highlights
  • This is Wand Partners’ 11th transaction in the Insurance sector.
  • This is Wand Partners’ 13th transaction in the United States.
  • This is Wand Partners’ 1st transaction in Virginia.

M&A Deal Summary

Date 2018-03-14
Target Prosperity Life Insurance Group
Sector Insurance
Buyer(s) Wand Partners
Sellers(s) Black Diamond Capital Partners
Reservoir Capital Group
Deal Type Secondary Buyout
Advisor(s) Barclays Investment Bank (Financial)
Debevoise & Plimpton (Legal)

Target

Prosperity Life Insurance Group

Roanoke, Virginia, United States
website
Prosperity Life Insurance Group LLC is an insurance organization, which provides financial security to individuals and their families through innovative protection, supplemental insurance and asset accumulation products. Its principal operating subsidiaries are Shenandoah, SBLI USA and S.USA.

Search 196,055 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

Wand Partners

New York, New York, United States

Investor Investor

website


Category Private Equity Firm
Founded 1985
Size Middle-Market
Type Sector Focused
DESCRIPTION

Wand Partners is a specialist private equity firm that targets investments in financial service companies. Prospective transactions include buyouts, expansion financings and venture investments in new companies. Specific areas of interest include property/casualty insurance and reinsurance; life insurance; insurance brokerage; commercial banking, specialty finance; investment banking; investment management; real estate finance; and technology/marketing services. The Firm's target transaction range is $50 to $500 million. Wand Partners was formed in 1985 and is based in New York City.


DEAL STATS #
Overall 18 of 18
Sector (Insurance) 11 of 11
Type (Secondary Buyout) 1 of 1
State (Virginia) 1 of 1
Country (United States) 13 of 13
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-08 Casewise

Watford, United Kingdom

Casewise Ltd. is a provider of software and consultancy solutions to over 3,000 major global organizations for Business Process Modeling, Enterprise Architecture, Service Oriented Architecture and IT Governance and Compliance solutions. Casewise’s enterprise modeling products and solutions enable organizations to visualize, understand, analyze, improve, audit and continually enhance complex operating processes and IT infrastructures.

Sell -

Seller(S) 2

SELLER

Black Diamond Capital Partners

Austin, Texas, United States

Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2005
PE ASSETS 72M USD
Size Small
Type Sector Focused
DESCRIPTION

Black Diamond Capital Partners is a specialist private equity firm focused on the insurance sector. Black Diamond seeks insurance companies headquartered in the US and Bermuda with strong franchises, quality management, and low 'susceptibility to unusual charges'. The Firm will act as the lead investor or is willing to partner with other investors. Black Diamond was formed in 2005 and is based in Austin, Texas.


DEAL STATS #
Overall 5 of 5
Sector (Insurance) 4 of 4
Type (Secondary Buyout) 4 of 4
State (Virginia) 2 of 2
Country (United States) 4 of 4
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-01 Shenandoah Life Insurance

Roanoke, Virginia, United States

Shenandoah Life Insurance is an insurance company specializing in providing life insurance, specialty health insurance and annuities to middle-market consumers across the country. Shenandoah Life Insurance was founded in 1914 and based in Roanoke, Virginia,

Sell -
DESCRIPTION

Reservoir Capital is a hedge fund focused on opportunistic investment opportunities in a variety of sectors and securities. In addition to investing directly in securities, Reservoir will consider private equity like investments as well. Reservoir Capital Group was formed in 1998 and is based in New York City.


DEAL STATS #
Overall 3 of 3
Sector (Insurance) 2 of 2
Type (Secondary Buyout) 3 of 3
State (Virginia) 1 of 1
Country (United States) 3 of 3
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-05 Amerilife

Clearwater, Florida, United States

Amerilife engages in developing, marketing and distributing life and health insurance, annuities and retirement planning solutions to enhance the lives of pre-retirees and retirees. Amerilife was founded in 1971 and is based in Clearwater, Florida.

Sell -