Pine Brook Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

Pine Brook Partners’ most common sectors for investment areoil/gas exploration (48%) and financial services (24%) . The Firm’s most common investment types include growth capital (36%) and buyout (lbo, mbo, mbi) (27%). In total, Pine Brook Partners has invested in 9 US states and 5 different countries. Its largest (disclosed) acquisition occurred in 2015 when it acquired Fidelis Insurance Holdings for $1.5B.

In the last 3 years, Pine Brook Partners has exited 3 companies. The Firm’s most common exit type is trade sale (46%). Pine Brook Partners’ largest (disclosed) exit occurred in 2021 when it sold Talcott Resolution Life for $2.3B.

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M&A Summary

  • M&A Total Activity66
    • M&A Buy Activity42
    • M&A Sell Activity24
  • Total Sectors Invested 4
  • Total Countries Invested 5
  • M&A Buy/Sell Connections 35
  • M&A Advisors 2

Pine Brook Partners

60 East 42nd Street, 50th Floor,
New York, New York 10165
United States
(212) 847-4333
www.pinebrookpartners.com
info@pinebrookpartners.com

Pine Brook Road Partners is a private equity group focused on growth capital investments in the energy and financial services sectors. Specific areas of interest within the energy sector include exploration, oilfield services, transportation/storage, power generation/distribution/transmission, and biofuel/renewable resources. Specific areas of interest within financial services include insurance, banks, asset management, specialty finance, and servicing/distribution/origination. Pine Brook generally acts as the lead/control investor in newly-formed or established businesses. The Firm has a special interest in 'underappreciated or overlooked' opportunities. Pine Brook Road Partners was formed in 2006 and is based in New York City.


Investment Criteria

Sectors of Interest: Energy Services and Equipment, Financial Services, Insurance, Oil/Gas Exploration, Packaging

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization, Stake Purchase, Venture, Joint Venture

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 100 500
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (0.0/yr) # 42 - - - - - 42
vol $3.4B $3.4B
Sell (1.2/yr) # 18 3 3 - - - 24
vol $2.7B $3.3B $6.0B
  66

Most Recent M&A

Company Date Value Type
Red Bluff Resources Holdings LLC 2022-06-29 - Add-on Acquisition
Oklahoma City, Oklahoma
Cahill Services LLC 2022-05-31 - Add-on Acquisition
Houston, Texas · www.cahillservices.com
ATX Energy Partners LLC 2022-02-02 - Merger
Austin, Texas · www.atxenergypartners.com
United Auto Credit Corp. 2021-12-14 300M USD Add-on Acquisition
Fort Worth, Texas · www.unitedautocredit.net
Fair Square Financial LLC 2021-10-21 750M USD Add-on Acquisition
Wilmington, Delaware · www.ollocard.com
Talcott Resolution Life, Inc. 2021-01-20 2.3B USD Secondary Buyout
Windsor, Connecticut · www.talcottresolution.com
Global Atlantic Financial Group Ltd. 2020-07-08 - Secondary Buyout
New York, New York · www.globalatlantic.com
Whitestar Asset Management, LLC 2020-06-24 - Secondary Buyout
Dallas, Texas · www.whitestaram.com
Brigham Minerals, Inc. 2019-04-17 - IPO
Austin, Texas · www.brighamminerals.net
Gulf Pine Energy Partners LP 2018-12-19 18M CAD Add-on Acquisition
Calgary, Alberta · www.gulfpine.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Oil/Gas Exploration 6 (50%) 400M (21%) 20 (48%) 1.2B (39%)
Financial Services 2 (17%) - 10 (24%) 130M (4%)
Insurance 3 (25%) 1.5B (79%) 9 (21%) 1.7B (56%)
Energy Services and Equipment 1 (8%) - 3 (7%) -
Total 12 $1.9B 42 $3.0B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 7 (58%) 400M (21%) 30 (71%) 1.5B (50%)
  Texas 5 (42%) 400M (21%) 20 (48%) 1.3B (44%)
  New York 1 (8%) - 2 (5%) -
  Colorado - - 2 (5%) -
  North Carolina 1 (8%) - 1 (2%) -
  Rhode Island - - 1 (2%) 200M (7%)
  Louisiana - - 1 (2%) -
  Delaware - - 1 (2%) -
  Connecticut - - 1 (2%) -
  Oklahoma - - 1 (2%) -
Bermuda 1 (8%) 1.5B (79%) 5 (12%) 1.5B (50%)
Canada 2 (17%) - 4 (10%) -
  Alberta 2 (17%) - 4 (10%) -
United Kingdom 1 (8%) - 2 (5%) -
Puerto Rico 1 (8%) - 1 (2%) -
Domestic 7 (58%) 400M (21%) 30 (71%) 1.5B (50%)
Cross-border 5 (42%) 1.5B (79%) 12 (29%) 1.5B (50%)
Total 12 $1.9B 42 $3.0B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 4 (33%) - 15 (36%) -
Buyout (LBO, MBO, MBI) 4 (33%) 1.9B (100%) 11 (26%) 2.9B (96%)
Stake Purchase 3 (25%) - 6 (14%) -
Venture 1 (8%) - 5 (12%) -
Divestiture - - 2 (5%) -
Going Private - - 1 (2%) 110M (4%)
Joint Venture - - 1 (2%) -
Recapitalization - - 1 (2%) -
Total 12 $1.9B 42 $3.0B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 11 (46%) 3.8B (63%)
IPO 5 (21%) -
Secondary Sale 3 (13%) 2.3B (37%)
Trade Sale 3 (13%) -
Merger 1 (4%) -
Stake Sale 1 (4%) -
Total 24 $6.0B

Top M&A Advisors

Legal Deals
Skadden, Arps, Slate, Meagher & Flom LLP
 2
Kirkland & Ellis
 1

Deal Values

buy # Total
> $1B 1 $1.5B
$100M to $1B 6 $1.9B
< $100M 1 $20M
TOTAL $3.4B
Largest Fidelis Insurance Holdings Ltd.
$1.5B (2015-06-09)
sell # Total
> $1B 1 $2.3B
$100M to $1B 8 $3.7B
< $100M 1 $18M
TOTAL $6.0B
Largest Talcott Resolution Life, Inc.
$2.3B (2021-01-20)

M&A Connections

Deals
Acquired from
Strategic(s)
5%
2 (5%)
Exited to
Investor(s)
17%
4 (17%)
Strategic(s)
50%
12 (50%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

6.0B USD

Established

2006

Specialist/Generalist

Specialist

Leadership

Howard Newman

Co-Founder & President & CEO

Grace Kim

Head of Investor Relations

Richard Aube

Managing Partner

Elan Stukov

CFO & CCO

Jen Zheng

Director, Tax

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