M&A Deal Summary

Kelso & Company, Aquiline Capital Partners and Arch Capital Acquire Premia

On January 9, 2017, private equity firm Kelso & Company, private equity firm Aquiline Capital Partners and Arch Capital acquired insurance company Premia for 510M USD

Acquisition Highlights
  • This is Kelso & Company’s 4th, Aquiline Capital Partners’ 6th and Arch Capital’s 5th transaction in the Insurance sector.
  • This is Kelso & Company’s 4th, Aquiline Capital Partners’ and Arch Capital’s largest (disclosed) transaction.
  • This is Kelso & Company’s 2nd, Aquiline Capital Partners’ 2nd and Arch Capital’s 1st transaction in Bermuda.

M&A Deal Summary
Date 2017-01-09
Target Premia
Sector Insurance
Buyer(s) Kelso & Company
Aquiline Capital Partners
Arch Capital
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 510M USD

Target

Premia

Hamilton, Bermuda
website
Premia is a reinsurance group with operations in Bermuda, the U.S., and Europe that is focused on sourcing, structuring, and servicing run-off businesses. Premia was founded in 2017 and is based in Hamilton, Bermuda.

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Buyer(S) 3

Buyer

Kelso & Company

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1971
PE ASSETS 12.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kelso & Company is a private equity and investment management firm that seeks control investments in middle-market companies operating primarily throughout the US. Sectors of interest include manufacturing, communications, media, distribution, service, consumer products, retail, healthcare, transportation, logistics, textiles, & apparel, chemicals, and energy. Kelso looks to align 'management's interest with those of investors' when considering opportunities. Kelso & Company was formed in 1971 and is based in New York City.

DEAL STATS #
Overall 62 of 77
Sector (Insurance) 4 of 5
Type (Buyout (LBO, MBO, MBI)) 27 of 32
Country (Bermuda) 2 of 3
Year (2017) 1 of 1
Size (of disclosed) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-22 Physicians Endoscopy

Jamison, Pennsylvania, United States

Physicians Endoscopy LLC is a developer, manager, and owner of freestanding, single-specialty endoscopic Ambulatory Surgery Centers in partnership with practicing physicians and hospitals.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-07 Sentinel Data Centers

New York, New York, United States

Sentinel Data Centers, LLC develops and operates highly fault tolerant data centers for internal data processing and disaster recovery purposes.

Sell $490M
Buyer

Aquiline Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2005
PE ASSETS 2.1B USD
Size Large
Type Sector Focused
DESCRIPTION

Aquiline Capital Partners is a private equity firm that targets investments in the financial services sector. The Firm specifically invests in risk-bearing and services enterprises in industries such as property and casualty insurance, specialty finance, securities, asset management, life insurance and transaction processing. Aquiline Capital was formed in 2005 and is based in New York City.

DEAL STATS #
Overall 25 of 63
Sector (Insurance) 6 of 12
Type (Buyout (LBO, MBO, MBI)) 8 of 11
Country (Bermuda) 2 of 3
Year (2017) 1 of 7
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-27 Togetherwork

Atlanta, Georgia, United States

Togetherwork is a provider of software and payments for groups and organizations of all kinds, helping them grow, become more efficient, increase revenues, and provide excellent service to their members and constituents. Togetherwork was founded in 2015 and is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-01 GAN Integrity

New York, New York, United States

GAN Integrity provides cloud-based compliance management software focused on anti-corruption. The platform manages policies, training, third-party due diligence, communications, and investigations for employees and suppliers. GAN Integrity was founded in 2004 and is based in New York City.

Buy -
Buyer

Arch Capital

Pembroke, Bermuda

website

Category Company
Founded 1995
Sector Insurance
Employees4,500
Revenue 8.3B USD (2020)
DESCRIPTION

Arch Capital is a publicly traded reinsurance and insurance company based in Bermuda. The proceeds of this financing were used to launch a major underwriting initiative to meet current and future demand in the global insurance marketplace. H&F was attracted to this investment because of the unique combination of the attractive market opportunity, the world-class underwriting team and our ability to create a clean insurance platform based in Bermuda. Hellman & Friedman had previously partnered with Bob Clements to found Mid Ocean Reinsurance in 1992 following Hurricane Andrew. Arch Capital was founded in 1995 and is based in Pembroke, Bermuda.

DEAL STATS #
Overall 5 of 12
Sector (Insurance) 5 of 11
Type (Buyout (LBO, MBO, MBI)) 1 of 1
Country (Bermuda) 1 of 2
Year (2017) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-15 United Guaranty

Greensboro, North Carolina, United States

United Guaranty Corp. is a provider of mortgage insurance products and services to mortgage lenders and credit unions of all sizes.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-01 The Ardonagh Group - Commercial MGA Businesses

London, United Kingdom

The Ardonagh Group - Commercial MGA Businesses is a full-service managing general agent (MGA) encompassing Commercial Lines, Personal Lines, Agriculture, a London Market business, Geo Specialty, and a European MGA; Geo Europe. With 15 offices across the UK and Europe, Geo Underwriting offers a wide underwriting footprint, diverse product range, and A-rated capacity.

Buy £31M
Mergr

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