Catalina Holdings acquires Quanta Capital Holdings Ltd with the assistance of with RBS and Lloyds TSB
Bermuda based, Catalina Holdings Ltd has just completed the acquisition of US-listed Quanta Capital Holdings Ltd with the assistance of The Royal Bank of Scotland (RBS) and Lloyds TSB Corporate Markets.
RBS, together with Lloyds TSB Corporate Markets as agent bank, jointly structured a senior amortising debt facility to support the $197 million acquisition of Quanta Capital Holdings Ltd. The acquisition was made through Catalina Holdings (Bermuda) Ltd’s wholly owned subsidiary Catalina Alpha Ltd.
Catalina Holdings acquires and manages non-life insurance and reinsurance companies and portfolios in run-off.
Chris Fagan, chief executive of Catalina Holdings, said: “This agreement shows that even in more difficult credit markets there can be good support for quality credit. We have been impressed with the advice and support from the banks and are pleased with the funding facilities put in place for the acquisition of Quanta. We now look forward to working with Quanta’s management and employees to achieve a successful run-off.”
Jamie Mehmood, RBS corporate banking, said: “Catalina continues to build on its track record of identifying and successfully completing acquisitions in the non-life run-off market and we have been pleased to be able to assist them with their acquisition strategy. We are delighted to work with Catalina on this acquisition and look forward to continuing this relationship with them going forward.”
Richard Askey, Lloyds TSB corporate markets, added: “We’re delighted to have been able to support Catalina by providing finance for this notable acquisition. Catalina is an experienced player in the sector and we look forward to working with the company on future transactions.”
