Wells Fargo Mergers and Acquisitions Summary

Financial Services Company

Wells Fargo has acquired 25 companies, including 1 in the last 5 years. A total of 6 acquisitions came from private equity firms. It has also divested 16 assets.

Wells Fargo’s largest acquisition to date was in 1998, when it acquired Norwest for $34.0B. It’s largest disclosed sale occurred in 2021, when it sold Wells Fargo Asset Management to GTCR for $2.1B. Wells Fargo has acquired in 12 different US states. The Company’s most targeted sectors include financial services (78%) and insurance (10%).

Join Mergr and gain access to Wells Fargo’s M&A summary, the M&A summaries of companies just like it, as well as recent M&A activity in the financial services sector.

M&A Summary

  • M&A Total Activity38
    • M&A Buy Activity22
    • M&A Sell Activity16
  • Total Sectors Invested 5
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 31
  • M&A Advisors 6

Wells Fargo & Co. (Wells Fargo)

420 Montgomery Street,
San Francisco, California 94163
United States,
(866) 878-5865
www.wellsfargo.com

Wells Fargo is a diversified financial services company that provides retail, commercial and corporate banking services through banking stores and offices, the internet and other distribution channels to individuals, businesses and institutions in all 50 US states, the District of Columbia and in other countries. Wells Fargo provides other financial services through subsidiaries engaged in various businesses, principally: wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, insurance agency and brokerage services, computer and data processing services, trust services, investment advisory services, mortgage-backed securities servicing and venture capital investment. Wells Fargo was formed in 1852 and is based in San Francisco, California.


M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (0.0/yr) # 22 - - - - - 22
vol $56.2B $56.2B
Sell (1.6/yr) # 8 2 1 1 1 3 16
vol $2.6B $227M $1.7B $1.2B $2.9B $8.6B
  38

Most Recent M&A

Company Date Value Type
Wells Fargo - Corporate Trust Services 2021-03-23 750M USD Divestiture
San Francisco, California
Wells Fargo Asset Management 2021-02-23 2.1B USD Divestiture
San Francisco, California
Wells Fargo's Canadian Direct Equipment Finance Business 2021-01-14 - Divestiture
Mississauga, Ontario
Wells Fargo & Co. - Global Alternative Investments Feeder Fund Platform 2020-06-18 - Divestiture
San Francisco, California
Wells Fargo & Co. - Institutional Retirement & Trust Business 2019-04-09 1.2B USD Divestiture
San Francisco, California
Wells Fargo & Co. - Auto Finance Business 2018-02-14 1.7B USD Divestiture
San Juan, Puerto Rico
Shareowner Services 2017-07-12 227M USD Divestiture
Mendota Heights, Minnesota · www.shareowneronline.com
Wells Fargo Insurance Services USA Inc. 2017-06-27 - Divestiture
Chicago, Illinois · wfis.wellsfargo.com
General Electric Co. - Commercial Distribution Finance Business 2016-10-03 800M USD Divestiture
, United States
Wells Fargo Global Fund Services LLC 2016-09-14 - Divestiture
New York, New York · www.wellsfargo.com/com/securities/markets/global-fund-services
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
First Union Rail Corp.    - GE Railcar Services, Inc. 2015-09-30 1
Rosemont, Illinois · www.firstunionrail.wellsfargo.com Calgary, Alberta · www.ge.com/railservices
Flatiron Capital Corp.    - Premium Payment Plan 2010-06-01 1
Denver, Colorado · www.flatironcapital.net Hudson, New York

M&A by Sector

Sector Buy # Value Sell # Value
Financial Services 17 (77%) 55.4B (99%) 7 (44%) 4.8B (55%)
Insurance 2 (9%) - 4 (25%) 2.9B (34%)
Business Services 1 (5%) - 4 (25%) 902M (11%)
Distribution 1 (5%) 800M (1%) - -
Medical Products 1 (5%) - - -
Information Services - - 1 (6%) -
Total 22 $56.2B 16 $8.6B

By Geo

State/Country Buy Value Sell Value
United States 22 56.2B 11 6.2B
  California 5 2.7B 4 4.1B
  New York 4 150M 1 -
  Minnesota 1 34.0B 3 2.0B
  Texas 2 251M 1 -
  Colorado 2 - 1 152M
  Illinois 1 - 1 -
  Utah 1 3.2B - -
  North Carolina 1 15.1B - -
  Florida 1 - - -
  District of Columbia 1 - - -
  Alaska 1 - - -
Puerto Rico - - 3 2.4B
  Prince Edward Island - - 1 735M
- - 1 -
Canada - - 1 -
  Ontario - - 1 -
Domestic 22 (100%) 56.2B (100%) 11 (69%) 6.2B (72%)
Cross-border - - 5 (31%) 2.4B (28%)
Total 22 $56.2B 16 $8.6B

Top M&A Advisors

Legal Deals
Wachtell, Lipton, Rosen & Katz LLP
1
Morgan, Lewis & Bockius LLP
1
McCarthy Tétrault LLP
1

Deal Values

buy # Total
> $1B 5 $54.9B
$100M to $1B 5 $1.3B
TOTAL $56.2B
Largest Norwest Corp.
$34.0B (1998-06-08)
sell # Total
> $1B 4 $6.1B
$100M to $1B 5 $2.5B
TOTAL $8.6B
Largest Wells Fargo Asset Management
$2.1B (2021-02-23)

M&A Connections

Deals
Acquired from
Investor(s)
14%
3 (14%)
Strategic(s)
32%
7 (32%)
Divested to
Investor(s)
19%
3 (19%)
Strategic(s)
81%
13 (81%)

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