Banking, Finance & Insurance Q1 2020

Q1 2020 Banking Finance Insurance

M&A Transaction Trends

Largest Transactions Closed

  • Target
  • Buyer
  • Value($mm)
  • Privilege Underwriters, Inc.
  • HCC Insurance Holdings Inc.
  • $3,100.00
  • AmeriLife Group, LLC
  • Thomas H. Lee Partners, L.P.
  • $1,000.00
  • Mutual of Omaha Bank
  • CIT Bank, National Association
  • $988.12
  • TB&T Bancshares, Inc.
  • First Financial Bankshares, Inc.
  • $210.11
  • Bankmanagers Corp.
  • First Midwest Bancorp, Inc.
  • $193.81
  • ASE/ DMS/ IDG/ OSI/ SAC/SAC Admin/ SAC Insurance/Smart AutoCare/Smart AutoCare Admin/FIC
  • Tiptree Warranty Holdings, LLC
  • $190.00
  • Two River Bancorp
  • OceanFirst Financial Corp.
  • $184.40
  • State Bank Corp.
  • Glacier Bancorp, Inc.
  • $135.29
  • Bancorp Of New Jersey, Inc.
  • ConnectOne Bancorp, Inc.
  • $117.47
  • Country Bank Holding Company, Inc.
  • OceanFirst Financial Corp.
  • $102.23

 

Source S&P Capital IQ as of 4/20/2020 and PCE Proprietary Data

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Contacts

David Jasmund

Orlando Office

407-621-2111

Michael Poole

Orlando Office

407-621-2112

David Jasmund

 

David Jasmund

Investment Banking | ESOP

Orlando Office

407-621-2111 (direct)

djasmund@pcecompanies.com

Connect
407-621-2111 (direct)

407-621-2199 (fax)

Eric Zaleski

 

Eric Zaleski

Investment Banking | ESOP

Chicago Office

847-239-2466 (direct)

ezaleski@pcecompanies.com

Connect
847-239-2466 (direct)

407-621-2199 (fax)

Melissa Ritter

 

Melissa Ritter

Investment Banking

Orlando Office

407-621-2128 (direct)

mritter@pcecompanies.com

Connect
407-621-2128 (direct)

407-621-2199 (fax)

Michael Rosendahl

 

Michael Rosendahl

Investment Banking

New York Office

201-444-6280 Ext 1 (direct)

mrosendahl@pcecompanies.com

Connect
201-444-6280 Ext 1 (direct)

407-621-2199 (fax)

Will Stewart

 

Will Stewart

Investment Banking | ESOP

Orlando Office

407-621-2124 (direct)

wstewart@pcecompanies.com

Connect
407-621-2124 (direct)

407-621-2199 (fax)

whitcomb-woody

 

Woody Whitcomb

Investment Banking

Orlando Office

407-621-2113 (direct)

wwhitcomb@pcecompanies.com

Connect
407-621-2113 (direct)

407-621-2199 (fax)

poole_michael

 

Michael Poole

Investment Banking

Orlando Office

407-621-2112 (direct)

mpoole@pcecompanies.com

Connect
407-621-2112 (direct)

407-621-2199 (fax)

vogt-paul

 

Paul Vogt

Valuation

Atlanta Office

678-641-4760 (direct)

pvogt@pcecompanies.com

Connect
678-641-4760 (direct)

407-621-2199 (fax)

Mackenzie Moran

 

Mackenzie Moran

Investment Banking

New York Office

201-444-6280 Ext 3 (direct)

mmoran@pcecompanies.com

Connect
201-444-6280 Ext 3 (direct)

407-621-2199 (fax)

Isabel Carta

 

Isabel Carta

Investment Banking

Orlando Office

407-621-2149 (direct)

icarta@pcecompanies.com

Connect
407-621-2149 (direct)

407-621-2199 (fax)

Philipp Seubert

 

Philipp Seubert

Investment Banking

New York Office

201-444-6280 Ext 4 (direct)

pseubert@pcecompanies.com

Connect
201-444-6280 Ext 4 (direct)

407-621-2199 (fax)

Data Assumptions

This report represents transaction activity as mergers & acquisitions, consolidations, restructurings and spin-offs. Targets are defined as U.S. Based companies with either foreign or U.S. based buyers. Transaction information provided is based on closed dates only.

Glossary

EBIT - Earnings Before Interest and Taxes
EBITDA - Earnings Before Interest, Taxes, Depreciation, Amortization
LTM - Last Twelve Months
TEV - Total Enterprise Value

Sources:

  1. Simon, Ruth, and Peter Rudegeair. “In Race for Small-Business Loans, Winning Hinged on Where Firms Bank.” The Wall Street Journal, Dow Jones & Company, 20 Apr. 2020.
  2. Frankel, Matthew. “Goldman Sachs Earnings Aren't as Bad as You Might Think.” Nasdaq, 15 Apr. 2020.
  3. Son, Hugh. “Goldman's Profit Tumbles 46%, but Bank Posts Strongest Bond-Trading Results in 5 Years.” CNBC, CNBC, 15 Apr. 2020.
  4. Rudegeair, Peter. "Square Gets Green Light to Open a Bank." The Wall Street Journal, Dow Jones & Company, 18 Mar. 2020.
  5. Roof, Katie. "Robinhood is Raising New Funds at About $8 Billion Value, Sources Say." Bloomberg.com, Bloomberg, 15 Apr. 2020.
  6. Wilkinson, Claire. “Members of Congress Push Plan to Force Insurers to Cover Virus Losses.” Business Insurance, 15 Apr. 2020.
  7. "2020: Global Property-Casulaty Insurance M&A in 2019 - Distribution Dominates." Conning.

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