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    Banking, Finance & Insurance Q4 2020

    Q4 2020 Banking Finance Insurance

    M&A Transaction Trends

    Largest Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Life and Disability Insurance Business of Cigna Corporation
    • New York Life Insurance Company
    • $6,300.00
    • OneDigital Health and Benefits, Inc.
    • Onex Corporation
    • $960.00
    • BAC Florida Bank
    • Banco Bradesco S.A.
    • $501.00
    • GAINSCO, Inc.
    • State Farm Mutual Automobile Insurance Company
    • $400.00
    • Armfield, Harrison & Thomas, LLC
    • BRP Group, Inc.
    • $327.00
    • AIM Bancshares, Inc.
    • Heartland Financial USA, Inc.; First Bank & Trust
    • $282.00
    • Insgroup, Inc.
    • Baldwin Krystyn Sherman Partners, LLC
    • $279.00
    • Kingsbridge Holdings, LLC
    • Solar Capital Ltd.; Solar Capital Partners, LLC
    • $216.00
    • Seacoast Commerce Banc Holdings
    • Enterprise Financial Services Corp
    • $157.00
    • People's United Insurance Agency, Inc.
    • AssuredPartners, Inc.
    • $120.00

     

    Source S&P Capital IQ as of 1/12/2021 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. Chang, Ellen. "PNC-BBVA Bank Merger: What You Need to Know." U.S. News & World Report. U.S. News & World Report, 4 Dec. 2020.
    2. Bennett, Alison, and Polo Rocha. "Fiscal Stimulus Bill Offers $284B for SBA Aid Program; Allows 2nd Loans." S&P Global Market Intelligence. S&P Global, 21 Dec. 2020. Web. 06 Jan. 2021.
    3. Scism, Leslie, and Julie Steinberg. "MetLife to Sell Car and Home Insurance Unit to Zurich for Nearly $4 Billion." The Wall Street Journal. Dow Jones & Company, 11 Dec. 2020. Web. 06 Jan. 2021.
    4. Kharif, Olga. "169-Year-Old MassMutual Invests $100 Million in Bitcoin." Bloomberg.com. Bloomberg, 10 Dec. 2020. Web. 06 Jan. 2021.
    5. Spegele, Brian, and Laura Cooper. "Risky Loans Secure Private-Equity Payouts Despite Downturn." The Wall Street Journal. Dow Jones & Company, 17 Dec. 2020.
    6. Merced, Michael J. De La. “The Year in Deals Can Be Summed Up in 4 Letters.” The New York Times, The New York Times, 19 Dec. 2020.
    7. “Conditions Ripe for Already Resilient M&A Activity to Accelerate in 2021 and Beyond.” EY, EY, 14 Dec. 2020.
    8. Marra, John, and Gregory McGahan. “Insurance Deals Insights: 2021 Outlook.” PwC

     

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