Financial Services Buyout Acquisitions in 2021
Acquisition Volume in Financial Services Buyout in 2021 by Year
Last 5 years
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December 31, 2021
- Buyer
- Estancia Capital Partners, Flexpoint Ford, LLC, Hamilton Lane, New York State Common Retirement Fund, Madison Capital Funding
- Target
- Reich & Tang Deposit Networks, LLC, Total Financial Solutions, LLC (d/b/a Total Bank Solutions)
- Industry
- Financial Services
- Location
- New York, United States
- Type
- Buyout
Estancia Capital Partners signed a definitive agreement to acquire a majority stake in Reich & Tang Deposit Networks (R&T), a New York–based administrator of reciprocal deposit networks and insured cash sweep programs, with R&T management remaining as meaningful equity holders. Estancia structured the transaction with institutional capital partners and allocators — including Flexpoint Ford (preferred equity), Hamilton Lane (allocator of capital), the New York State Common Retirement Fund and Madison Capital Funding — to accelerate R&T’s growth and expand its product and technology capabilities; the firms later combined R&T with Total Bank Solutions under R&T Parent Holdings.
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December 31, 2021
- Buyer
- Regions Financial Corporation
- Target
- Clearsight Advisors
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Buyout
Regions Financial Corporation has completed the acquisition of Clearsight Advisors, an M&A and capital-raising advisory firm. The deal brings Clearsight into Regions Bank’s Capital Markets division to expand Regions’ M&A advisory and technology-sector capabilities; Clearsight will retain its McLean, Virginia headquarters and existing offices in New York and Dallas.
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December 31, 2021
- Buyer
- World Insurance Associates LLC
- Target
- SAS Insurance Agency, Inc.
- Seller
- Michael Symeonides
- Industry
- Financial Services
- Location
- New Jersey, United States
- Type
- Buyout
World Insurance Associates LLC (WIA), a Tinton Falls-based insurance consolidator, acquired SAS Insurance Agency, Inc. of Kearny, New Jersey effective December 31, 2021. SAS, founded in 1965 and owned by Michael Symeonides since 2002, will continue operating from its existing location with its professional staff as part of WIA's expanding broker network.
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- Buyer
- Velocity Financial, Inc.
- Target
- Century Health & Housing Capital
- Industry
- Financial Services
- Location
- New York, United States
- Type
- Buyout
Velocity Financial, Inc. (NYSE: VEL) has acquired a majority stake in Century Health & Housing Capital, a Ginnie Mae issuer/servicer that provides FHA-insured mortgage financing and servicing for multifamily, senior living and long-term care facilities. The acquisition expands Velocity's product suite into government-insured multifamily and healthcare lending, diversifies revenue with fee-based origination and servicing income, and is expected to be immediately accretive to earnings.
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- Buyer
- RBB Bancorp
- Target
- Gateway Bank, F.S.B.
- Industry
- Financial Services
- Location
- California, United States
- Type
- Buyout
RBB Bancorp entered into a definitive agreement to acquire Gateway Bank, F.S.B. in a cash transaction valued at approximately $22.9 million. The acquisition is expected to close in the second quarter of 2022, subject to regulatory approvals and customary closing conditions.
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December 27, 2021
- Buyer
- Lightyear Capital LLC
- Target
- Wren Sterling Financial Planning Limited
- Seller
- Palatine Private Equity, Other shareholders
- Industry
- Financial Services
- Location
- United Kingdom
- Type
- Buyout
Lightyear Capital LLC agreed to acquire a majority stake in UK financial planning firm Wren Sterling from Palatine Private Equity and other shareholders, with Wren Sterling's management remaining significant shareholders. The deal, completed after FCA approval, gives Wren Sterling access to capital to pursue organic growth and selective acquisitions while continuing to expand its UK advice network.
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December 20, 2021
- Buyer
- New Residential Investment Corp.
- Target
- Genesis Capital LLC
- Seller
- Affiliates of the Goldman Sachs Group, Inc.
- Industry
- Financial Services
- Location
- California, United States
- Type
- Buyout
New Residential Investment Corp. completed its acquisition of Genesis Capital LLC, a Sherman Oaks-based business-purpose lender, from affiliates of Goldman Sachs. The deal, financed with New Residential cash and committed asset-based financing from Goldman Sachs, adds loan origination capability to New Residential's single-family rental platform; Genesis originated roughly $2 billion of loans in 2021 and has about 170 employees.
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December 20, 2021
- Buyer
- Athene Holding Ltd., Apollo Global Management, Inc.
- Target
- Petros PACE Finance, LLC
- Industry
- Financial Services
- Location
- Texas, United States
- Type
- Buyout
Athene Holding Ltd. has entered into a definitive agreement to acquire Petros PACE Finance, a U.S. originator of Commercial Property Assessed Clean Energy (C-PACE) financing. The investment will be managed by Apollo, and Petros' co‑founders will remain with the business and retain a minority stake as the company scales its C‑PACE origination platform.
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December 20, 2021
- Buyer
- BMO Financial Group, BMO Harris Bank N.A.
- Target
- Bank of the West
- Seller
- BNP Paribas
- Industry
- Financial Services
- Location
- California, United States
- Type
- Buyout
BMO Financial Group, together with its subsidiary BMO Harris Bank N.A., signed a definitive agreement to purchase Bank of the West and its subsidiaries from BNP Paribas. The $16.3 billion cash deal is expected to close by the end of calendar 2022, subject to customary regulatory approvals, and will expand BMO’s U.S. presence—especially in California.
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December 18, 2021
- Buyer
- Eustis Mortgage Corporation
- Target
- Signature Mortgage Corporation
- Seller
- Bob Catlin
- Industry
- Financial Services
- Location
- Ohio, United States
- Type
- Buyout
New Orleans-based Eustis Mortgage Corporation has acquired Canton, Ohio-based Signature Mortgage Corporation, bringing Signature's 30+ member Canton team into the Eustis family. The deal folds Signature's operations and brand into Eustis' platform, with Signature founder Bob Catlin remaining as Senior Vice President to support integration and operational continuity.
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- Buyer
- Hub International Limited
- Target
- The Spofford Group Insurance Brokerage, Ltd.
- Industry
- Financial Services
- Location
- Massachusetts, United States
- Type
- Buyout
Hub International Limited acquired the assets of The Spofford Group Insurance Brokerage, Ltd., a Hingham, Massachusetts-based specialty insurance broker focused on management liability and financial institutions. Rob Spofford and the Spofford Group team will join Hub New England to deepen Hub’s financial institutions specialty practice; terms were not disclosed.
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December 17, 2021
- Buyer
- ProTitleUSA (AGOLD SERVICES INC d/b/a ProTitleUSA)
- Target
- DocSolution, Inc. (DocSolutionUSA, LLC dba DocSolution Inc)
- Seller
- Charles A. Brown and Associates, PLLC
- Industry
- Financial Services
- Location
- Texas, United States
- Type
- Buyout
ProTitleUSA has acquired DocSolution, Inc., a Pasadena, Texas–based document preparation and recording firm, which will operate as DocSolutionUSA, LLC dba DocSolution Inc. The acquisition brings DocSolution's mortgage document preparation, HUD Claim-22 assignment workflow and curative services into ProTitleUSA's title search and analytics platform to extend integrated search and doc-prep products into capital markets.
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December 16, 2021
- Buyer
- Transworld Systems Inc.
- Target
- EOS North America
- Seller
- EOS Group
- Industry
- Financial Services
- Location
- United States
- Type
- Buyout
Transworld Systems Inc. (TSI) has completed its acquisition of EOS North America, a first- and third-party collections agency serving government, financial services, healthcare, telecom and utility clients. The deal expands TSI's first-party collections and customer care capabilities, adds the AffordaPay buy-now-pay-later healthcare solution, and gives TSI a foothold in the Canadian market; terms were not disclosed.
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December 16, 2021
- Buyer
- Moneytree Software (an Accutech Systems Corporation company)
- Target
- eFinPlan
- Industry
- Financial Services
- Location
- United States
- Type
- Buyout
Moneytree Software, an Accutech Systems Corporation company, has acquired eFinPlan, a financial-planning resource website that offers educational content and coaching for individuals preparing to work with advisors. The acquisition expands Moneytree's library of financial wellness resources to help advisors better educate clients and drive adoption of financial planning tools.
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December 16, 2021
- Buyer
- Crossroads Systems, Inc.
- Target
- Fountainhead (Fountainhead SBF / Fountainhead Commercial Capital)
- Industry
- Financial Services
- Location
- Florida, United States
- Type
- Buyout
Crossroads Systems, Inc. (OTCQX: CRSS) has reached an agreement in principle to acquire Fountainhead, a national non-bank direct lender specializing in SBA 7(a), SBA 504 and low-LTV conventional loans. The acquisition is intended to diversify Crossroads' small-business product mix and expand its SBA lending capabilities; the deal is subject to SBA consent and expected to close in H1 2022.
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December 16, 2021
- Buyer
- Stewart Information Services Corporation
- Target
- Devon Title Agency
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
Stewart Information Services Corporation (NYSE: STC) has acquired Devon Title Agency, a Michigan-based title agency with more than 30 years of operations. The acquisition expands Stewart's scale and market presence in Michigan and brings Devon's team, technology and local relationships into Stewart's national title services platform.
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December 16, 2021
- Buyer
- MoneyLion Inc.
- Target
- Even Financial Inc.
- Industry
- Financial Services
- Location
- New York, United States
- Type
- Buyout
MoneyLion agreed to acquire Even Financial, a category-leading embedded finance marketplace, to expand its distribution network and accelerate its mission of providing financial access and advice. The deal provides for up to $440 million of total consideration for Even, and is expected to close in the first quarter of 2022. MoneyLion later completed the acquisition.
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December 16, 2021
- Buyer
- JTC Group
- Target
- Essential Fund Services
- Industry
- Financial Services
- Location
- New York, United States
- Type
- Buyout
JTC Group has acquired New York-headquartered Essential Fund Services (EFS), a fund accounting and administration firm serving alternative asset managers, to expand and add scale to its US fund services platform. EFS's team and c. $5.5bn AuA will join JTC's Institutional Client Services division and will work alongside the recently acquired SALI Fund Services to broaden capabilities in the Insurance Dedicated Fund (IDF) market.
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December 14, 2021
- Buyer
- Finvasia Group
- Target
- ZuluTrade Group, AAAFx
- Industry
- Financial Services
- Location
- Greece
- Type
- Buyout
Finvasia Group has acquired ZuluTrade Group, the social trading platform, along with AAAFx (a HCMC-regulated broker). The deal expands Finvasia's fintech and financial services ecosystem and strengthens its retail and institutional trading offerings across Europe and globally.
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December 13, 2021
- Buyer
- SVB Financial Group
- Target
- MoffettNathanson LLC
- Industry
- Financial Services
- Location
- New York, United States
- Type
- Buyout
SVB Financial Group acquired MoffettNathanson LLC, a New York–based independent sell‑side equity research firm, to expand SVB’s investment banking research coverage into technology and healthcare. The acquisition brings MoffettNathanson’s senior analysts and sector expertise into SVB Leerink’s platform, strengthening SVB’s capabilities for innovation‑economy clients.
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December 13, 2021
- Buyer
- Hub International Limited
- Target
- Basi Insurance Services, Inc.
- Industry
- Financial Services
- Location
- California, United States
- Type
- Buyout
Hub International Limited acquired the assets of Basi Insurance Services, Inc., an Oakdale- and Manteca-based insurance agency specializing in agribusiness and farm insurance. The acquisition strengthens Hub's agribusiness and farm insurance capabilities in Northern and Central California; Randy Basi and his team will join Hub California and report to Michael Der Manouel. Terms were not disclosed and MarshBerry served as financial advisor to Basi Insurance Services.
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December 13, 2021
- Buyer
- Parthenon Capital Partners
- Target
- KBRA
- Industry
- Financial Services
- Location
- New York, United States
- Type
- Buyout
Parthenon Capital Partners has agreed to acquire a majority stake in KBRA, the full-service global credit rating agency headquartered in New York. The investment will provide KBRA with capital and partnership to accelerate growth, expand its analytics and ratings capabilities, and support domestic and international expansion.
-
December 13, 2021
- Buyer
- CIFC Asset Management LLC
- Target
- LBC Credit Partners
- Industry
- Financial Services
- Location
- United States
- Type
- Buyout
CIFC Asset Management LLC (“CIFC”) entered into an agreement to acquire LBC Credit Partners (“LBC”), a middle market direct lending platform. The acquisition is intended to complement CIFC’s existing credit strategies and further diversify its multi-strategy credit platform, with the deal expected to close by year-end.
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December 10, 2021
- Buyer
- Hg
- Target
- Fonds Finanz Maklerservice GmbH
- Industry
- Financial Services
- Location
- Bavaria, Germany
- Type
- Buyout
Hg has made a majority investment in Fonds Finanz, a Munich-based tech-enabled financial intermediary pool serving insurance brokers, distributors and banks across Germany. The partnership will fund further technology investment, capability expansion into additional customer segments and potential add-on acquisitions to broaden Fonds Finanz's service offering.
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December 10, 2021
- Buyer
- MAI Capital Management, LLC
- Target
- Queens Oak Advisors
- Industry
- Financial Services
- Location
- North Carolina, United States
- Type
- Buyout
MAI Capital Management has acquired Queens Oak Advisors, expanding MAI's presence in the Greater Charlotte, North Carolina region and adding roughly $558 million in assets under management. The acquisition brings Queens Oak’s financial planning, estate planning and asset management capabilities into MAI’s platform and moves key advisors (including Leila Evans and Deems May) into MAI leadership roles in Charlotte.
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December 9, 2021
- Buyer
- SS&C Technologies Holdings, Inc.
- Target
- Hubwise Holdings Limited
- Industry
- Financial Services
- Location
- England, United Kingdom
- Type
- Buyout
SS&C Technologies Holdings, Inc. has entered into a definitive agreement to acquire Hubwise Holdings Limited in an all-cash transaction. The deal adds a regulated U.K. B2B investment platform (58 employees, 51 customers) to SS&C's wealth and adviser solutions and is expected to close in 2022 subject to customary approvals.
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December 9, 2021
- Buyer
- Credible
- Target
- Young Alfred
- Industry
- Financial Services
- Location
- United States
- Type
- Buyout
Credible, the digital lending marketplace, has acquired Young Alfred, a digital insurance marketplace, to add personal lines property and casualty insurance to its platform. The acquisition integrates Young Alfred’s technology and carrier integrations into Credible’s marketplace, enabling consumers to compare and purchase home, auto, renters, pet and other insurance products alongside lending products.
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December 7, 2021
- Buyer
- U.S. Bank, U.S. Bancorp Asset Management, Inc., U.S. Bancorp Asset Management
- Target
- PFM Asset Management LLC (PFMAM), PFM Asset Management
- Seller
- PFM
- Industry
- Financial Services
- Location
- Minnesota, United States
- Type
- Buyout
U.S. Bank, through its subsidiary U.S. Bancorp Asset Management, closed on its acquisition of PFM Asset Management LLC (PFMAM). PFMAM will continue to operate as a separate registered investment advisor, adding more than 250 employees and expanding U.S. Bank’s national institutional investment solutions, particularly in the public sector.
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- Buyer
- United Bankshares, Inc.
- Target
- Community Bankers Trust Corporation, Essex Bank
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Buyout
United Bankshares, Inc. completed its acquisition of Community Bankers Trust Corporation, the parent company of Essex Bank, adding an organization with approximately $1.7 billion in assets and headquarters in the greater Richmond, Virginia region. The deal expands United’s Mid‑Atlantic footprint into additional Virginia and Maryland markets; former Community Bankers Trust President and CEO Rex L. Smith III was retained as a Regional President for the former Essex Bank locations.
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- Buyer
- Blackstone
- Target
- Allstate Life Insurance Company (renamed Everlake Life Insurance Company)
- Seller
- The Allstate Corporation
- Industry
- Financial Services
- Location
- Illinois, United States
- Type
- Buyout
Blackstone-managed entities purchased Allstate Life Insurance Company and certain subsidiaries for $2.8 billion; the business has been renamed Everlake Life Insurance Company. Domain Capital Advisors served as lead lender in a multi-lender syndicate providing and servicing the debt for the transaction. The seller was The Allstate Corporation, which divested the life and annuity business.
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December 2, 2021
- Buyer
- bunq, Pollen Street Capital
- Target
- Capitalflow
- Industry
- Financial Services
- Location
- Ireland
- Type
- Buyout
Dutch challenger bank bunq has acquired Capitalflow, a privately held Irish SME lender, after Dutch central bank approval of a merger tied to a €193 million funding round with Pollen Street Capital that values bunq at €1.6 billion. The capital injection and acquisition are intended to fuel bunq's European expansion and add lending capabilities as the bank rolls out M&A as part of its growth strategy.
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December 2, 2021
- Buyer
- Regions Bank (Regions Financial Corporation)
- Target
- Sabal Capital Partners
- Seller
- Sabal Capital Partners (lending and servicing segments were sold), Pat Jackson, Stone Point Capital LLC
- Industry
- Financial Services
- Location
- California, United States
- Type
- Buyout
Regions Bank completed the acquisition of the lending and servicing segments of Sabal Capital Partners, integrating Sabal into its Real Estate Capital Markets division to expand agency multifamily and non‑agency lending and servicing capabilities. The deal excludes Sabal's investment management business, which remains with sellers including CEO Pat Jackson and funds managed by Stone Point Capital LLC.
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- Buyer
- Republic, Davidson Kempner Capital Management LP
- Target
- Seedrs Limited
- Seller
- Schroder UK Public Private Trust plc, Augmentum Fintech plc, Omnis Income & Growth Fund, Seedrs shareholders and option holders
- Industry
- Financial Services
- Location
- England, United Kingdom
- Type
- Buyout
Republic, a U.S.-based private investment platform, has agreed to acquire London-headquartered Seedrs in a transaction valuing Seedrs at approximately $100 million (~£75 million). The deal is intended to create the first global private investment marketplace and accelerate Republic’s expansion into the UK and Europe; Davidson Kempner is participating as a shareholder through a purchase of Seedrs shares from several institutional holders.
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December 1, 2021
- Buyer
- CI Private Wealth (CI Financial Corp.)
- Target
- Matrix Capital Advisors, LLC
- Industry
- Financial Services
- Location
- Illinois, United States
- Type
- Buyout
CI Private Wealth, a division of CI Financial Corp., has acquired Matrix Capital Advisors, a Chicago-based registered investment advisor that manages approximately US$615 million in assets. The deal expands CI's U.S. wealth management footprint and adds high-net-worth client relationships and experienced advisory personnel to its CI Private Wealth platform; financial terms were not disclosed.
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December 1, 2021
- Buyer
- Mercer Global Advisors, Inc. (Mercer Advisors)
- Target
- Precipio Wealth Management LLC
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Buyout
Mercer Global Advisors, Inc. (Mercer Advisors) has acquired Precipio Wealth Management LLC, a McLean, Virginia-based wealth management firm with approximately $250 million in assets under management serving clients in 19 states. The deal brings Precipio's team into Mercer Advisors as part of the founders' succession planning and expands Mercer’s presence in the Washington, D.C. / Mid-Atlantic region.
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December 1, 2021
- Buyer
- Fentura Financial, Inc., The State Bank
- Target
- Farmers State Bank of Munith
- Industry
- Financial Services
- Location
- Michigan, United States
- Type
- Buyout
Fentura Financial, Inc., the holding company for The State Bank, completed its acquisition of Farmers State Bank of Munith, expanding The State Bank's branch network and market footprint. The transaction grows the combined company to roughly $1.4 billion in assets and increases branch offices to 20; Farmers' president Jeanne E. Richter will join The State Bank as a senior officer and systems integration is planned for Q1 2022.
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November 30, 2021
- Buyer
- STP Investment Services
- Target
- Tower Fund Services
- Industry
- Financial Services
- Location
- New Jersey, United States
- Type
- Buyout
STP Investment Services has acquired third-party fund administrator Tower Fund Services to expand its alternative asset fund administration capabilities and bring Tower clients onto STP's BluePrint technology platform. The transaction strengthens STP's alternative investing offering and aims to deliver enhanced operational technology and service to Tower's clients.
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November 30, 2021
- Buyer
- Creative Planning Inc.
- Target
- Dashboard Wealth Advisors
- Industry
- Financial Services
- Location
- Illinois, United States
- Type
- Buyout
Creative Planning Inc., an independent Registered Investment Adviser based in Overland Park, Kansas, acquired Dashboard Wealth Advisors, a Chicago-area RIA founded by Scott Schuster in 2013 that managed more than $800 million in assets. The deal brings Dashboard’s clients and advisory team into Creative Planning’s platform and expands the firm’s presence in the Illinois / greater Chicago market.
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November 29, 2021
- Buyer
- Athene, Apollo
- Target
- Aqua Finance
- Seller
- Funds managed by Blackstone Tactical Opportunities
- Industry
- Financial Services
- Location
- Wisconsin, United States
- Type
- Buyout
Athene has agreed to acquire a controlling stake in Aqua Finance, a Wisconsin-based consumer lending platform, at a valuation of about $1 billion. Apollo will manage the investment on Athene’s behalf, while funds managed by Blackstone Tactical Opportunities will retain a minority stake.
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November 24, 2021
- Buyer
- Columbia Financial, Inc.
- Target
- Freehold Bank, Freehold Bancorp, Freehold MHC
- Seller
- Freehold MHC, Freehold Bancorp, Freehold Bank
- Industry
- Financial Services
- Location
- New Jersey, United States
- Type
- Buyout
Columbia Financial, Inc. (Columbia Bank) received required regulatory approvals to acquire Freehold MHC, Freehold Bancorp and Freehold Bank. The transaction, announced Nov. 24, 2021, was expected to close on December 1, 2021 and aims to expand Columbia's New Jersey branch network and realize cost savings from the combination.
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November 22, 2021
- Buyer
- Wealthspire Advisors
- Target
- Private Ocean, LLC
- Industry
- Financial Services
- Location
- California, United States
- Type
- Buyout
Wealthspire Advisors, an NFP company and independent registered investment adviser, signed a definitive agreement to acquire Private Ocean, LLC, a fiduciary wealth management firm with $2.7 billion in assets under management based in San Rafael, California (with offices in San Francisco and Seattle). The deal, which is expected to close in Q4 2021, expands Wealthspire's West Coast presence and contributes to its growing national RIA platform.
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November 22, 2021
- Buyer
- KeyBank National Association
- Target
- XUP Payments
- Industry
- Financial Services
- Location
- North Carolina, United States
- Type
- Buyout
KeyBank National Association (KeyCorp) has acquired XUP Payments, a Charlotte-based B2B payments and Banking-as-a-Service platform. KeyBank will integrate XUP's onboarding, integrations, and payments technology to enhance its commercial payments capabilities and advance its embedded banking strategy.
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November 18, 2021
- Buyer
- JTC PLC
- Target
- SALI Fund Services
- Seller
- Long Ridge Equity Partners
- Industry
- Financial Services
- Location
- Texas, United States
- Type
- Buyout
JTC PLC has acquired SALI Fund Services, a US-based provider of fund administration services for Insurance Dedicated Funds (IDFs) and Separately Managed Accounts (SMAs), headquartered in Austin, Texas. The transaction represents a full exit for Long Ridge Equity Partners' Fund II investment and advances JTC's strategy to strengthen its presence in the United States and expand its insurance-related service capabilities.
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November 18, 2021
- Buyer
- ComplySci
- Target
- illumis Inc.
- Industry
- Financial Services
- Location
- New York, United States
- Type
- Buyout
ComplySci, a provider of regulatory technology for financial services, has acquired illumis Inc., a data aggregator and technology provider that monitors political contribution and public records data. The acquisition expands ComplySci's compliance platform capabilities by adding illumis's comprehensive political donation coverage and preclearance tools, and illumis will operate as a ComplySci company with its founder Mike Phillips serving as President, illumis.
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November 17, 2021
- Buyer
- CURO Group Holdings Corp.
- Target
- Heights Finance
- Seller
- Milestone Partners
- Industry
- Financial Services
- Location
- South Carolina, United States
- Type
- Buyout
CURO Group Holdings Corp. completed the acquisition of Heights Finance from private equity firm Milestone Partners for $360 million ($335 million cash and $25 million stock). The deal expands CURO's branch footprint and installment-loan capabilities, adding roughly 400 branches and a loan portfolio serving underbanked and near-prime consumers across 11 U.S. states.
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November 16, 2021
- Buyer
- Alera Group
- Target
- McSherry & Hudson Insurance Services
- Industry
- Financial Services
- Location
- California, United States
- Type
- Buyout
Alera Group, a national insurance and wealth management firm, has acquired McSherry & Hudson Insurance Services, an independent insurance brokerage based in Watsonville, California. The acquisition expands Alera Group's capabilities and industry-specific risk management expertise in agriculture, construction and real estate across Central and Northern California; terms were not disclosed.
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November 16, 2021
- Buyer
- Oportun
- Target
- Digit
- Industry
- Financial Services
- Location
- California, United States
- Type
- Buyout
Oportun (Nasdaq: OPRT) has signed a definitive agreement to acquire Digit, a neobanking platform, for approximately $212.9 million. The deal brings Digit's ~600,000 paying members and 100+ employees into Oportun to accelerate the company's AI-driven digital banking, savings, investing and lending capabilities and create cross-selling opportunities.
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November 16, 2021
- Buyer
- Revolution Capital
- Target
- Grand Financial New York
- Industry
- Financial Services
- Location
- New York, United States
- Type
- Buyout
Revolution Capital (REV Capital) has acquired Grand Financial New York, a New York–based factoring firm serving the transportation and staffing sectors. The acquisition expands Revolution Capital's U.S. East Coast presence and aims to provide Grand Financial's clients access to faster funding and broader factoring services across North America.
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November 15, 2021
- Buyer
- Revolution Capital
- Target
- Growth Capital
- Industry
- Financial Services
- Location
- Canada
- Type
- Buyout
Revolution Capital, a Woodbridge, Ontario-based provider of factoring and cash-flow financing, has acquired Growth Capital, a Canadian factoring firm focused on the transportation industry. The deal brings Growth Capital's transportation-focused receivables financing capabilities and team (including former president Nelko Mahlyanov, who will stay on as SVP) into Revolution Capital to expand scale, capability and market share in North American factoring.
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November 15, 2021
- Buyer
- eCapital Corp.
- Target
- Flexible Funding, InstaPay
- Industry
- Financial Services
- Location
- Texas, United States
- Type
- Buyout
eCapital Corp. acquired the assets of Flexible Funding, a payroll funding provider for staffing agencies, along with Flexible Funding’s freight factoring subsidiary InstaPay, to establish a foothold in the Dallas–Fort Worth market. eCapital said it will maintain a Fort Worth presence and retain Flexible Funding and InstaPay staff to continue serving staffing and transportation clients.
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