The Deal

FEBRUARY 6, 2024

8, Janney made a splash with a deal for New York-based middle market investment bank TM Capital Corp., In May 2018, the privately held subsidiary of Penn Mutual Life Insurance Co. began to build another specialty area, picking up HighBank Adv i sors LLC , which is also focused on lower middle market M&A.

Middle Market 52

Middle Market Investment Banking Capital Market Banking 52

Focus Investment Banking

DECEMBER 26, 2023

The State of the M&A Market kicked off the 9 am start, and since the expert panel included insurance industry representatives, the discussion began with a deep dive into the exciting world of rep & warranty insurance. More on that later.

Private Equity 52

Private Equity M&A Equities Insurance 52

Mergers and Inquisitions

MAY 17, 2023

billion buyout of Duck Creek Technologies (insurance SaaS) in early 2023 for a seemingly nonsensical 234x EBITDA multiple and 7.6x If you go even smaller, you’ll find names like Sumeru (Silver Lake’s middle-market firm), Banneker (founded by ex-Vista employees), Riverwood, and Leeds (with a “knowledge industries” focus).

Private Equity 64

Private Equity Equities Recruitment Funds 64

What's Market

AUGUST 22, 2022

The first is a deductible basket, where any amount of losses up to a certain dollar amount fall within the basket and are never subject to indemnification, similar in application to the well-known consumer insurance deductible. The ABA studies examine purchase agreements of publicly available transactions involving private companies.

Mergers and Acquisitions 52

Mergers and Acquisitions M&A Insurance Mergers 52

Mergers and Inquisitions

MARCH 13, 2023

Deposits up to $250K are insured in the U.S., ” And the FDIC insurance fund will extend to all depositors at SVB and Signature Bank (another failure over the weekend). And the middle-market and boutique investment banks don’t have much presence in commercial lending anyway, so they’re not at risk of bank runs.

Banking 123

Banking Bank Funds Government 123

Growth Business

NOVEMBER 23, 2023

They are thematic investors in fintech (financial services, real estate, insurance) and deep tech (AI enabled transformation, security, IoT), across B2C, B2B and B2B2C businesses. mortgages, insurance) software (e.g. FPE Capital is a growth equity investor in the UK lower middle-market.

Investment 111

Investment Funds Capital Business 111

What's Market

AUGUST 29, 2022

The 2017, 2019, and 2021 ABA studies each show that indemnity caps and indemnity baskets were lower in reported deals where representations and warranty insurance (RWI) was referenced in the deal documents, as compared with transactions without any such reference.

Mergers and Acquisitions 52

Mergers and Acquisitions M&A Mergers Insurance 52

Mergers and Inquisitions

FEBRUARY 2, 2022

Benefits: Finally, you’ll get health insurance, vacation days, and potential participation in the firm’s profit-sharing or 401(k) retirement plans. Meanwhile, Goldman Sachs paid quite well, with many Associates in the $400K – $500K total compensation range, and various other bulge bracket and middle market firms followed suit.

Investment 130

Investment Investment Banking Banking Bank 130

Mergers and Inquisitions

JULY 17, 2024

Financials are usually in the #1 spot because banks and insurance firms constantly issue debt; other sectors trade places in the rankings. Of the middle-market banks , only Jefferies seems to have much of a presence.

Investment Banking 59

Investment Banking Banking Bank Investment 59

What's Market

SEPTEMBER 19, 2022

For example, if the buyer uncovers a potential area of litigation or regulatory risk in its diligence, the seller and buyer could jointly determine the level of risk, whether or not that risk was insured or insurable, and how the residual risk should be allocated as between buyer and seller—e.g.,

M&A 52

M&A Mergers and Acquisitions IT Insurance 52

What's Market

SEPTEMBER 12, 2022

Buyers and rep and warranty insurers are focusing more aspects of their due diligence on virus-related matters. These transactions range in size but are generally considered as within the “middle market” for M&A transactions; the transaction values of the 123 deals within the 2021 study ranged from $30 to $750 million.

M&A 52

M&A Mergers and Acquisitions Negotiation Mergers 52

What's Market

SEPTEMBER 26, 2022

including the seller's human resources director as to the employment and HR representations or the risk management director with respect to insurance). When the seller is a larger company with multiple operational functions, specific individuals might be included in the knowledge group for selected representations (e.g.,

Mergers and Acquisitions 52

Mergers and Acquisitions M&A Negotiation Mergers 52

Cooley M&A

FEBRUARY 21, 2017

Rep & Warranty (R&W) Insurance is Here. Previously, transaction insurance (or R&W insurance) was used sparingly and predominantly by East Coast private equity funds. Outside of the US, R&W insurance has already become widely used in private M&A deals in Europe by both PE funds and strategic buyers alike.

Insurance 52

Insurance M&A Underwriting Private Equity 52

Focus Investment Banking

FEBRUARY 15, 2025

Mirroring previous quarters, most of the transactions in Q4 2024 came from the CPG space, ranging from billion-dollar deals to lower middle market acquisitions. The packaged foods segment also saw several middle market deals including J.M. The largest deals included Butterfly Equitys $1.95

Food 52

Food Middle Market Private Equity M&A 52

Mergers and Inquisitions

MARCH 19, 2025

Matt Stoller has an excellent article summing up the companys problems , but the short version is that it came under severe margin pressure due to pharmaceutical pricing : Health insurance companies in the U.S. The PBM market used to have healthy competition, but it has consolidated over time, and three major players currently control 80%.

Private Equity 59

Private Equity Retail Equities Mergers and Acquisitions 59