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    Banking, Finance & Insurance Q3 2020

    Q3-2020-Banking-Finance-Insurance

    Largest Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • IBERIABANK Corporation
    • First Horizon National Corporation
    • $3,979.00
    • Santander BanCorp
    • FirstBank Puerto Rico
    • $1,278.00
    • Franklin Financial Network, Inc.
    • FB Financial Corporation
    • $627.00
    • 30 SunTrust Branches in North Carolina, Virginia, Georgia
    • First Horizon Bank
    • $521.00
    • Benefytt Technologies, Inc.
    • Madison Dearborn Partners, LLC
    • $434.00
    • Artificial Intelligence Insurance Business of Tulco, LLC
    • Acrisure, LLC
    • $400.00
    • Three Shores Bancorporation, Inc.
    • United Community Banks, Inc.
    • $213.00
    • SB One Bancorp
    • Provident Financial Services, Inc.
    • $212.00
    • Franco Signor LLC
    • Verisk Analytics, Inc.
    • $16.00
    • 57 Title Offices in the States of Arizona, Colorado, and Nevada
    • Stewart Title Company
    • $105.00

     

    Source S&P Capital IQ as of 10/9/2020 and PCE Proprietary Data

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    Contacts

    David Jasmund

    Orlando Office

    407-621-2111

    Michael Poole

    Orlando Office

    407-621-2112

    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. Holger, Dieter. “New York Regulator Pushes Insurers on Climate Change.” The Wall Street Journal, Dow Jones & Company, 22 Sept. 2020.
    2. Kreutzer, Laura. “Earnout Provisions Regain Popularity as Investors Address Market Uncertainty.” The Wall Street Journal, Dow Jones & Company, 28 Sept. 2020.
    3. LLP, Clyde & Co. “Insurance Growth Report 2020 - Mid-Year Update.” Clyde & Co, Clyde Co LLP, 17 Aug. 2020.
    4. Brown, Wayne. “How Open Banking Could Save Branch Banking.” EY, EY, 31 Aug. 2020.
    5. Pollari, Ian, and Anton Ruddenklau. “Pulse of Fintech H12020.” Pulse of Fintech H1 2020, KPMG, Sept. 2020.
    6. Goldman, Corey, "National General Soars on $4 Billion Allstate Acquisition", The Street, July 8, 2020.

     

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