M&A Deal Summary

Warburg Pincus Acquires Mariner Finance

On June 11, 2013, private equity firm Warburg Pincus acquired financial services company Mariner Finance from Milestone Partners

Acquisition Highlights
  • This is Warburg Pincus’ 21st transaction in the Financial Services sector.
  • This is Warburg Pincus’ 126th transaction in the United States.
  • This is Warburg Pincus’ 4th transaction in Maryland.

M&A Deal Summary
Date 2013-06-11
Target Mariner Finance
Sector Financial Services
Buyer(s) Warburg Pincus
Sellers(s) Milestone Partners
Deal Type Secondary Buyout

Target

Mariner Finance

Nottingham, Maryland, United States
Mariner Finance is a multichannel consumer lender in the Unites States offering high touch, relationship-based lending to a near-prime credit customer base through direct personal loans, sales finance loans, home improvement loans and auto loans. Mariner Finance was founded in 2002 and is based in Nottingham, Maryland.

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Buyer(S) 1

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 236 of 482
Sector (Financial Services) 21 of 47
Type (Secondary Buyout) 31 of 63
State (Maryland) 4 of 5
Country (United States) 126 of 237
Year (2013) 9 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-31 Havells India

Noida, India

Havells India is a manufacturer of electrical and power distribution equipment. The company manufactures products ranging from building circuit protection, industrial and domestic switchgears, cables and wires, energy meters, fans, CFL lamps, luminaries for domestic, commercial and industrial application, and modular switches.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-17 Delonex Energy

London, United Kingdom

Delonex Energy is a Sub-Saharan oil and gas company focused on exploration, development and production. Delonex is currently active in Ethiopia, Kenya and Mozambique and the Transaction in Chad is part of the company’s strategy for expanding its portfolio in Central & West Africa. Delonex Energy is based in London, United Kingdom.

Buy -

Seller(S) 1

SELLER

Milestone Partners

Villanova, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 650M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Milestone Partners is a lower middle-market private equity firm specializing in investments in manufacturing, distribution, and service companies. Milestone looks for businesses valued up to $250 million with EBITDA of $5 to $50 million. The Firm's target revenue size is $10 to $250 million. Milestone prefers companies with growth potential and proven management. The Firm will not invest in businesses in high cyclical industries, with low barriers to entry, or have a high reliance on technology. Milestone Partners was formed in 1995 and is based in Villanova, Pennsylvania.

DEAL STATS #
Overall 10 of 28
Sector (Financial Services) 1 of 3
Type (Secondary Buyout) 5 of 9
State (Maryland) 1 of 2
Country (United States) 10 of 26
Year (2013) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-03 Eliason

Kalamazoo, Michigan, United States

Eliason is a manufacturer of double-action, high impact doors. It is the original and only manufacturer of patented EasySwing® impact doors.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-01 eCommission

Austin, Texas, United States

eCommission is a provider of commission advance services to real estate professionals in the United States. eCommission was founded in 2001 and is based in Austin, Texas.

Buy -
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