Thomas H. Lee Partners’ Acquisition of AmeriLife

Debevoise & Plimpton LLP advised J.C. Flowers & Co., LLC and AmeriLife Group, LLC on the deal.

AmeriLife Group, LLC has entered into a recapitalization agreement with an investor group led by Thomas H. Lee Partners, L.P. (“THL”), premier private equity firm investing in growth companies, and other investors including Cannae Holdings and certain THL limited partners.

Terms of the transaction, which is expected to close in the first quarter of 2020 subject to customary closing conditions, were not disclosed. THL is acquiring a majority stake from J.C. Flowers & Co., LLC (“J.C. Flowers”), a leading private investment firm dedicated to investing globally in the financial services industry, and other investors.

Since 1998, J.C. Flowers has invested more than $15 billion of capital in 55 portfolio companies in 18 countries across a range of industry subsectors, including banking, insurance and reinsurance, securities firms, specialty finance, and services and asset management, and today manages approximately $6 billion worth of assets under management.

AmeriLife is a national leader in developing, marketing and distributing life and health insurance, annuities and retirement planning solutions to enhance the lives of pre-retirees and retirees.

Thomas H. Lee Partners focuses its investment activity across four industry sectors: Financial Services, Consumer, Healthcare and Technology & Business Solutions. Since 1974, THL has raised more than $25 billion of equity capital, invested in over 140 companies and completed more than 360 add-on acquisitions representing an aggregate enterprise value at acquisition of over $200 billion.

Evercore and Jefferies LLC served as financial advisors to AmeriLife, and Credit Suisse and Goldman Sachs served as financial advisors to THL.

The Debevoise team was led by M&A partner Gregory Gooding (Picture) and includes M&A partner Jennifer Chu and associates Helen Tang and Chibundu Okwuosa, finance associate Ryan Rafferty, tax partner Gary Friedman and associate David Rock, benefits partner Jonathan Lewis, counsel Michael Snypes and associate David Deutsch, intellectual property counsel Judith Church and associate Tigist Kassahun and investment management partner Kenneth Berman and counsel Gregory Larkin.

Involved fees earner: Kenneth Berman – Debevoise & Plimpton; Jennifer Chu – Debevoise & Plimpton; Judith Church – Debevoise & Plimpton; David Deutsch – Debevoise & Plimpton; Gary Friedman – Debevoise & Plimpton; Gregory Gooding – Debevoise & Plimpton; Tigist Kassahun – Debevoise & Plimpton; Gregory Larkin – Debevoise & Plimpton; Jonathan Lewis – Debevoise & Plimpton; Ryan Rafferty – Debevoise & Plimpton; David Rock – Debevoise & Plimpton; Michael Snypes Jr. – Debevoise & Plimpton; Helen Tang – Debevoise & Plimpton;

Law Firms: Debevoise & Plimpton;

Clients: J.C. Flowers & Co.;

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Author: Ambrogio Visconti