M&A Deal Summary

Truist Acquires Crump Group

On February 9, 2012, Truist acquired insurance company Crump Group from J.C. Flowers for 570M USD

Acquisition Highlights
  • This is Truist’s 2nd transaction in the Insurance sector.
  • This is Truist’s 10th largest (disclosed) transaction.
  • This is Truist’s 40th transaction in the United States.
  • This is Truist’s 1st transaction in New Jersey.

M&A Deal Summary
Date 2012-02-09
Target Crump Group
Sector Insurance
Buyer(s) Truist
Sellers(s) J.C. Flowers
Deal Type Add-on Acquisition
Deal Value 570M USD

Target

Crump Group

Roseland, New Jersey, United States
Crump Group, Inc. provides insurance services.

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Buyer(S) 1

Buyer

Truist

Charlotte, North Carolina, United States

website

Category Company
Founded 1872
Sector Financial Services
Employees53,207
Revenue 22.7B USD (2020)
DESCRIPTION
BB&T's corporate headquarters in Winston-Salem, North Carolina.
BB&T's corporate headquarters in Winston-Salem, North Carolina.

Truist is a financial services company. The company offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Truist was founded in 1872 and is headquartered in Charlotte, North Carolina.

DEAL STATS #
Overall 40 of 50
Sector (Insurance) 2 of 4
Type (Add-on Acquisition) 40 of 45
State (New Jersey) 1 of 1
Country (United States) 40 of 50
Year (2012) 1 of 2
Size (of disclosed) 10 of 34
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-01 Coastal Financial

Myrtle Beach, South Carolina, United States

Coastal Financial Corp. is a provider of personal banking services and products.

Buy $370M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-31 BankAtlantic

Fort Lauderdale, Florida, United States

BankAtlantic provides financial services., in was specialised in retail banking.

Buy -

Seller(S) 1

SELLER

J.C. Flowers

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1998
PE ASSETS 5.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

JC Flowers is a specialist private equity firm that targets investments in the financial services sector. JC Flowers looks for distressed opportunities in North America, Western Europe, and Asia. JC Flowers was formed in 1998 and is based in New York City with an additional office in London.

DEAL STATS #
Overall 4 of 15
Sector (Insurance) 1 of 5
Type (Add-on Acquisition) 2 of 4
State (New Jersey) 1 of 1
Country (United States) 3 of 5
Year (2012) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-31 MF Global Holdings

New York, New York, United States

MF Global Holdings Ltd was a commodities brokerage firm.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-01 Enstar Group

Hamilton, Bermuda

Enstar Group is a insurance run-off services company that specializes in acquiring and managing reserves associated with discontinued books of property & casualty insurance and reinsurance business on a global basis. Enstar Group was incorporated in 2001 and is based in Hamilton, Bermuda.

Buy -
Mergr

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