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First Investors Financial Services Group completes merger with Aquiline Capital Partners’ affiliate

Fri, 02/11/2012 - 13:54

First Investors Financial Services Group has completed its previously announced merger with an affiliate of private equity firm Aquiline Capital Partners. 

 

The total consideration to be received by the former holders of First Investors securities will be approximately USD100 million. First Investors, which is now a wholly-owned subsidiary of a company controlled by Aquiline Capital Partners, has ceased trading of its common stock on the OTC Pink Sheets.

Former shareholders of First Investors will receive instructions shortly for surrendering their stock certificates to Wells Fargo Bank, National Association, who will act as paying agent with respect to the merger. Each shareholder of First Investors is entitled to receive USD13.87 per share of common stock of First Investors they hold.

Keefe, Bruyette & Woods, Inc. and Falconbridge Capital Markets LLC acted as financial advisors to First Investors, with Thompson & Knight LLP acting as legal counsel.  Willkie Farr & Gallagher LLP acted as legal counsel and Macquarie Capital acted as financial advisor to Aquiline Capital Partners LLC.


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