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    Banking, Finance & Insurance Q3 2020

    Q3-2020-Banking-Finance-Insurance

    M&A Transaction Trends

    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

    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)

    Pearl-Rachel 667 x 667

     

    Rachel Pearl

    Valuation

    Orlando Office

    407-621-2140 (direct)

    rpearl@pcecompanies.com

    Connect
    407-621-2140 (direct)

    407-621-2199 (fax)

    R Winston 667 x 667

     

    Richard Winston

    Valuation

    Atlanta Office

    404-994-4650 (direct)

    rwinston@pcecompanies.com

    Connect
    404-994-4650 (direct)

    407-621-2199 (fax)

    Thomas Harrington

     

    Thomas Harrington

    Investment Banking

    Orlando Office

    407-621-2145 (direct)

    tharrington@pcecompanies.com

    Connect
    407-621-2145 (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. 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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