M&A Deal Summary

Xenith Bankshares Acquires Hampton Roads Bankshares

On February 10, 2016, Xenith Bankshares acquired financial services company Hampton Roads Bankshares from Anchorage Capital Partners and The Carlyle Group

Acquisition Highlights
  • This is Xenith Bankshares’ 2nd transaction in the Financial Services sector.
  • This is Xenith Bankshares’ 2nd transaction in the United States.
  • This is Xenith Bankshares’ 1st transaction in Virginia.

M&A Deal Summary

Date 2016-02-10
Target Hampton Roads Bankshares
Sector Financial Services
Buyer(s) Xenith Bankshares
Sellers(s) Anchorage Capital Partners
The Carlyle Group
Deal Type Merger
Advisor(s) Sandler O'Neill + Partners LP (Financial)
Wachtell, Lipton, Rosen & Katz LLP (Legal)

Target

Hampton Roads Bankshares

Virginia Beach, Virginia, United States
website
Hampton Roads Bankshares, Inc. operates as the bank holding company for Bank of Hampton Roads (BOHR) and Shore Bank that provide community and commercial banking services primarily to individuals and small to medium-sized businesses.

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Buyer(S) 1

Buyer

Xenith Bankshares

Richmond, Virginia, United States

website


Category Company
Founded 2008
SectorFinancial Services
Employees115
Revenue 38M USD (2015)
DESCRIPTION

Xenith Bankshares, Inc. through its wholly-owned subsidiary, Xenith Bank, provides business-focused banking services to customers in the Richmond and Hampton Roads, Virginia and Greater Washington, D.C. markets. Headquartered in Richmond, it has assets of approximately $1.0 billion. Xenith Bank has eight locations in Herndon, Richmond, Suffolk and Gloucester, Virginia and one loan production office in Newport News, Virginia.


DEAL STATS #
Overall 2 of 2
Sector (Financial Services) 2 of 2
Type (Merger) 2 of 2
State (Virginia) 1 of 1
Country (United States) 2 of 2
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-01 Colonial Virginia Bank

Gloucester, Vermont, United States

Colonial Virginia Bank is a provider of financial services.

Buy -

Seller(S) 2

SELLER

Anchorage Capital Partners

Sydney, Australia

Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2008
PE ASSETS 810M AUD
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

Anchorage Capital Partners is a specialized private equity firm that focuses on control investments in established businesses with a strong market position or brand which are not performing at their full potential, often as a result of capital constraints, lack of management attention or being a non-core ‘orphan’ in a large corporate. Target companies generally have at least A$100 million of revenue and are valued up to A$250 million. Anchorage will consider companies in a variety of sectors, however, the Firm avoids investing in technology, direct real estate or mineral exploration. The Firm will consider opportunities throughout Australia, New Zealand, and Southeast Asia. Anchorage Capital Partners was established in 2008 and is based in Sydney.


DEAL STATS #
Overall 6 of 13
Sector (Financial Services) 1 of 1
Type (Merger) 1 of 1
State (Virginia) 1 of 1
Country (United States) 1 of 2
Year (2016) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-15 Affinity Education

Brisbane, Australia

Affinity Education is a child care operators in Australia, with a portfolio of over 160 centers. Affinity’s key focus is providing exceptional child care and education services. It recognizes and values the moral obligation to act with professional integrity as advocates on behalf of children. Affinity strives to provide a safe, respectful and compassionate environment that recognizes children as people with valuable views and interests to ensure children feel noticed, heard, and understood while receiving the best possible educational program to support their emotional and social development. Affinity Education is based in Brisbane, Australia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-15 Contech Engineered Solutions

West Chester, Ohio, United States

Contech Engineered Solutions LLC is a provider of innovative engineering and site solutions for the residential, commercial and infrastructure markets. The company's primary end markets are the US infrastructure, commercial and residential construction markets. Contech Engineered Solutions was formed in 1986 and is based in West Chester, Ohio.

Sell -
SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1987
PE ASSETS 84.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 294 of 427
Sector (Financial Services) 15 of 30
Type (Merger) 5 of 8
State (Virginia) 15 of 20
Country (United States) 179 of 242
Year (2016) 5 of 25
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-05 Landmark FBO

Houston, Texas, United States

Landmark FBO, LLC (“Landmark”) is a provider of fueling and ground support services to the general and commercial aviation markets through its network of fixed base operations (“FBOs”). Landmark is the 3rd largest network of FBOs in North America with a presence at high volume airports such as Washington Dulles and Los Angeles International. In addition to FBOs, the company provides MRO services, aircraft charter and management, aircraft fueling and information technology support services to the U.S. military through long-term contracts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-11 WorldStrides

Charlottesville, Virginia, United States

WorldStrides, Inc. is a provider of experiential learning to over 400,000 students per year covering academic, professional, performing arts, and athletic programming. The company partners with more than 7,000 K-12 schools and 800 universities, including top MBA programs. Since its founding in 1967, more than seven million students have travelled with WorIdStrides.

Sell -