Deals
Genstar, Aquiline Mull Sale of Savings Firm Ascensus
- Retirement-services providers benefit from aging population
- Private equity firms acquired company in 2015 for $750 million
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Genstar Capital and Aquiline Capital Partners are weighing a sale of retirement and college-savings provider Ascensus Inc., which could fetch more than $2 billion, according to people familiar with the matter.
The private equity firms have spoken to financial advisers about seeking potential suitors for Ascensus, which generates about $150 million in annual earnings before interest, taxes, depreciation and amortization, said one of the people, who asked to not be identified because the matter isn’t public.