Milestone Partners has acquired Southern Management Corporation. A senior credit facility in support of the transaction was provided by Wells Fargo. With 244 branch locations throughout the Southern U.S., Southern provides installment loans, related credit insurance and ancillary products to consumers.
Private equity investors have invested in 193 companies in the Financial Services industry since the beginning of 2011, according to the PitchBook Platform. Many of those investors feel secure investing in Insurance-related companies with the Insurance sector accounting for 36% of the activity during the last roughly year and half, making it the most popular Financial Services sector. The Insurance activity has been largely bolstered by add-ons, which make up 58% of the deal flow in the sector.