The company's financial sponsor support through meaningful equity funding of acquisitions helps to somewhat mitigate the integration, leverage and cash flow risks of the transactions, and the. Thats the highest multiple in the companys history and compares to a likely 8 to 10 percent post-merger growth rate. Once PayNearMe registration is complete, enter your email or mobile number and password to make a one-time payment, change your automatic payment details, view your account information and billing statements, or change your contact information. Aqua Finance has a long history of partnering with merchants across the home improvement and recreational ecosystem to provide dependable and flexible financing solutions to their customers. Our goal is to ensure our dealers and borrowers achieve their dreams Just add Aqua to experience the difference of working with a company that cares about outcomes. Tamas Mir is a Senior VP, Business Analytics & Pricing at Aqua Finance based in Wausau, Wisconsin. Data contained in an October Kroll Bond Rating Agency report showed that Aqua Finance had sponsored $1.92 billion in term securitizations, most recently the $759.5 million Aqua Finance Trust 2021-A. We work with dealers and contractors to put owning a pool or hot tub within reach. Today, Aqua serves roughly 3 million water customers in Pennsylvania, Ohio, North Carolina, Illinois, Texas, New Jersey, Indiana and Virginia. Once the loan is paid off, we will be happy to close your account and send you the remaining balance, if you choose. UK competition regulator tells Facebook owner Meta to sell GIF maker Giphy. For residents of New York City, New York: Aqua Finance, Inc. provides servicing options that allow for verbal communication in Spanish. Riverbed delivers application performance for the globally connected enterprise. Shares of Apollo, Arthur J. Gallagher and Brown and Brown have gained 49.7%, 33.2% and 38%, respectively, year to date. Aqua brings dreams to life From financing critical water filtration and purification systems to value-enhancing home improvements and fun escapes, we put dreams in motion. Athene Safe Harbor for Forward-Looking StatementsThis press release contains, and certain oral statements made by Athene's representatives from time to time may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. That $5 was deposited by Aqua Finance to help you get started as a Connexus Credit Union member. Submit your proof of insurance. The Apollo slide deck listed consumer finance among various "whitespace" opportunities as it pursues greater diversity by asset class and geography. Nippon Steel plans to buy steel mill in Southeast Asia. Announcements, rumors, insights, and data before your morning coffee. For Apollo and Athene, Aqua is highly complementary to our portfolio of diversified origination platforms, extending our access to quality consumer loan flow., Menes Chee, a Senior Managing Director at Blackstone, and C. C. Melvin Ike, a Principal at Blackstone, said, We are pleased to have backed Aqua, Rich, and his management team as they built a strong financial technology platform serving customers across the country. The company provides long-term operation, maintenance, and management of critical public and private assets and infrastructure across telecommunications, transport, local government, water, power generation, electricity, gas, healthcare, education, resources, and defense industries. (FS), Pivotal bioVenture Partners led a $100m Series C round in HotSpot Therapeutics. Complete the payment slip that comes with your statement and send it with a cheque in the envelope provided. The potential for sales-related synergies contributed to parent-subsidiary relationships between select life insurers and consumer finance companies decades ago. December 3, 2021 Martina Bellini. (FS), Temasek led a $100m financing round in Carro. This is Apollo Global Management's 7th and Athene's 3rd transaction in the Financial Services sector. Aqua Finance, Inc.s NMLS identifier is #1082164 which may be verified at NMLS Consumer Access. Apr 1 2023. Active duty service members are eligible to apply for a loan via Aqua Finance Marine & RV Loans. How much does Aqua Finance pay an hour? (FS). We specialize in working with dealers and retailers to finance recreational products such as boats, RVs, and trailers. Your next steps as a member You will soon receive a letter in the mail that includes your member number and account details. Nick was one of the first employees of the Environmental Protection Agency in 1972, and later served in the cabinet of former Pennsylvania Governor Richard Thornburg. Aqua also attracted a $750 million equity investment from the Canada Pension Plan Investment Board. Simple and affordable HVAC financing options available through dealers for new heating and cooling systems. The problem I'm having with this is that I have continued to make $60 a month payments . JP Morgan to back KKR's $51bn financing in TIM deal. The insurance broker estimates more than $2.5 billion for mergers and acquisitions consisting of $1 billion in cash, about $650 million of net cash generation in the second half of 2021, and $600 million to $700 million of borrowing capacity.Brown and Brown acquired Heacock Insurance to boost its presence in central Florida. To become a member of any credit union, you must have a savings account. Through this transaction, the new investor group expects to invest in new technology and innovation to further enhance the merchant customer experience and drive expansion of the network with new and existing partners. And Aquas current valuation is very much in line with the rest of the group, including American Water Works (NYSE: AWK) at 34.2 times expected 2020 earnings. What might appear to casual industry observers as an unusual marriage from an operational standpoint makes perfect sense in a financial context in the current environment. (FS). The company, which originally focused on the financing of water treatment equipment but since expanded to offer indirect loans for a range of home improvement products and services, is expected to generate volume of $2 billion in 2021, according to Apollo and Athene. Like the Aqua Finance deal, Foundation will be acquired by Athene under the terms of a July agreement and managed by Apollo post-closing. Additionally, the company had cumulatively sold $3.7 billion of loans to third parties, including through a partnership with Wausau, Wis., neighbor Connexus CU. Scroll down to read deal descriptions. Apollo Global Management is a global alternative investment firm. Das Naes Unidas 14401, Torre Hotel Chcara Santo Antnio So Paulo, BR-SP. Aqua Finance expanded its services to all 50 states in 2013. Aqua Finance generated $1.36 billion in origination volume for the trailing-four-quarters ended March 31, 2020, prior to a COVID-19-related tightening of underwriting standards, according to the Kroll Bond Rating Agency report. Expand your network of fellow Dealmakers by inviting your colleagues and coworkers. Brown & Brown intends to make consistent investments in boosting organic growth and margin expansion. This is Apollo Global Management's 33rd and Athene's 2nd largest (disclosed . Conseco Inc., a life and supplemental health insurer, memorably touted "extensive cross-marketing opportunities" when it agreed in April 1998 to acquire manufactured housing finance company Green Tree Financial Corp. in a stock deal initially valued at $7.35 billion. Diamonds Direct was formed in 1995 and is based in Charlotte, North Carolina. Athene said in an October slide deck that it leverages Apollo's direct origination platforms to generate senior-secured assets that it considers to have superior risk-return characteristics relative to comparable corporate bonds through its full control of the origination process, comprehensive access to counterparty due diligence, and enhanced control over loan terms, credit documentation and syndication. If you'd like to contribute to the future editions,drop us a line. So whats not to like about a company that just accelerated its long-term growth rate and reduced business risk at a low cost, and is a perpetual takeover candidate? November 29, 2021 16:30 ET Aqua Finance, Inc.s NMLS identifier is #1082164 which may be verified at NMLS Consumer Access. For residents of New York City, New York: Aqua Finance, Inc. provides servicing options that allow for verbal communication in Spanish. And Ive had the privilege of meeting with current CEO Chris Franklin, as well as several times with the architect of the companys three-decades-old growth through acquisitions strategy, Nicholas DeBenedictis. You will need this member number to register for aDigital Banking accountwhere you can view and make payments on your loan. View all the payment options. If you choose not to actively use your Connexus savings account, thats okay. Ammonia . Ardian and MidOcean-backed Florida Food Products to acquire Comax Flavors. Are T-Mobiles Earnings Set For A Boost In Q1? Riverbed was founded in 2002 and is based in San Francisco, California. Our $731 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. For more than three decades, Aqua has partnered with merchants to provide flexible consumer lending solutions, and with Athene we look forward to investing in the business and supporting the Aqua team to build on this success, said Apollo Co-President Jim Zelter. Make a payment to Aqua Finance with our Payment Portal Skip to main content Please be aware that websites may be impersonating Aqua Finance. . Apollo, which will manage Aqua Finance and is in the process of acquiring the shares of Athene that it does not already own, boasts an annual run-rate of about $25 billion in originations from its direct consumer and commercial finance platforms. Athene Holdings ATH and Apollo Global Management APO have agreed to buy a majority interest in Aqua Finance for $1 billion from Blackstone Tactical Opportunities. Register today to see your account information and make your payments. Make a payment; Dealer Portal; ES; About; Dealers; Borrowers; Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Of that amount, $8.06 billion pertained to securitizations of unaffiliated assets where Apollo is the manager and $2.34 billion involved strategic investments in the Apollo direct origination platforms. This is Apollo Global Managements 82nd and Athenes 7th transaction in the United States. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Life insurers such as Transamerica Corp., American General Corp., Prudential Insurance Co. of America and the predecessor to Principal Financial Group Inc. all maintained significant consumer lending and/or residential mortgage operations during at least part of the 1990s, most of which they later sold in whole or in part as the notion of financial services convergence fell out of favor. JP Morgan to back KKR's $51bn financing in TIM deal. +5.14%. You recently took out a loan with our partner Aqua Finance. We look forward to continuing to support the business and its next phase of growth.. (FS) HashiCorp seeks $13bn valuation in IPO. (FS), Monomoy Capital Partners to acquire Thetford from The Dyson-Kissner-Moran. You can see the complete list of todays Zacks #1 Rank (Strong Buy) stocks here. Blackstone would also maintain a minority stake in the company. Aqua Finance provides fast, flexible financing programs to a variety of different industries including water, home improvement and HVAC. An undisclosed fund managed by The Blackstone Group Inc. (NYSE:BX) acquired 80% stake in Aqua Finance, Inc. on August 10, 2018. I interviewed Nick for my 2002 book "Power Hungry: Strategic Investing in Telecommunications, Utilities & Other Essential Services." The company has strong and growing merchant relationships formed over 30 years, and has nearly doubled its annual loan originations since Blackstone first invested in 2018, with originations expected to reach $2 billion this year. You simply need to select the option to speak with a , https://www.aquafinance.com/make-a-payment/. 2023 Aqua Finance, Inc. All rights reserved. Forward-looking statements within this press release include, but are not limited to, statements regarding future growth prospects and financial performance. Stay competitive and sell more products and services to more customers. (FS). But its very difficult to see shares making real headway any time soon from these levels. About ApolloApollo is a high-growth, global alternative asset manager. Exor's PartnerRe sale to free $10bn for investments. We also accept payments using the Faster Payment Service. Generally, forward-looking statements include actions, events, results, strategies and expectations and are often identifiable by use of the words believes, expects, intends, anticipates, plans, seeks, estimates, projects, may, will, could, might, should, or continues or similar expressions. Bermudian-based retirement services company Athene has agreed to acquire a controlling stake in the consumer-lending platform Aqua Finance in a deal valued at approximately $1 billion. And theres even a potential human link, as former CEO DeBenedictis was once an employee and board member of Exelon. Just add Aqua. esgSubNav, Discover more about S&P Globals offerings, Global Credit and Risk Symposium: Unlocking Possibilities, JW Marriott Sao Paulo Av. Under the terms of the transaction, New York-headquartered global alternative asset manager Apollo will manage the investment on behalf of Athene. Apollo's geographic coverage spans Europe, North America, and Asia. If you know someone who might enjoy this briefing forward this email. Follow Blackstone on Twitter @Blackstone. (FS) Athene and Apollo to acquire a majority stake in Aqua Finance from Blackstone at a $1bn valuation. Athene is a life insurance holding company focused principally on the retirement market and whose business, through its subsidiaries, is focused primarily on issuing or reinsuring fixed and equity indexed annuities. Today, you can download 7 Best Stocks for the Next 30 Days. Microsofts Satya Nadella sells half of his shares in the company. His comments then have proven prescient, both for Aqua and the US water sector overall. We are excited to partner with this new investor group as we enter the next stage of expansion for Aqua. Aqua Finance has. We deliver flexible and consumer-friendly financing programs so families can bring their dreams to life. Jim Belardi, chief executive officer of Athene, said: Aqua Finance is an exciting opportunity for Athene to invest in a leading consumer finance platform, to provide capital and expertise to continue to grow the business, and to execute on our strategy with Apollo to invest in high-quality origination platforms.. However, Connexus offers some of the nations highest deposit yields and competitive loan rates. Aqua Finance estimates originations to reach $2 billion in 2021.The addition of Aqua Finance will boost Apollos $80 billion annual run-rate of asset origination across commercial and consumer lending platforms. You must be Registered or Signed in to post comment or to vote. Pending the . Under the terms of the transaction, Apollo will manage the investment on behalf of Athene. GB Group completed the acquisition of Acuant for $736m. Rich Morrin, Aquas chief executive officer, said: We are excited to partner with this new investor group as we enter the next stage of expansion for Aqua. From a yield perspective, the company targets outperformance through those platforms of between 100 and 200 basis points over liquid corporates. Innovid went public via a SPAC merger with ION Acquisition 2 in a $1.3bn deal. 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