Enstar Group Acquired for $5.1 Billion

By Tamara Parker • Thursday, July 03 06:01 • Permanent Link

Enstar Group Limited ("Enstar") has completed its acquisition by investment vehicles managed by affiliates of Sixth Street, a leading global investment firm. The acquisition was for $338.00 in cash per ordinary share, representing a total equity value of $5.1 billion. This transaction was also supported by Liberty Strategic Capital, J.C. Flowers & Co. LLC, and other institutional investors.

Enstar's CEO, Dominic Silvester, expressed enthusiasm for the acquisition, highlighting it as a significant moment for the company as they transition into their next chapter as a private entity. Michael Muscolino, co-founder and partner at Sixth Street, also expressed excitement about the acquisition, emphasizing Enstar's strong business model and exceptional management team.

Following the closing of the transaction, Enstar notified the NASDAQ stock market of its intention to voluntarily withdraw its depositary shares from listing and registration. Enstar expects to file a form 25 notification of delisting with the Securities and Exchange Commission on or about July 14, 2025.

The acquisition, which was initially announced on July 29, 2024, was approved by Enstar shareholders at a special general meeting on November 6, 2024. With the completion of the acquisition, Enstar's ordinary shares will no longer be publicly listed, and the company will continue operations as a privately held, standalone entity under the Enstar name.

In terms of advisors, Goldman Sachs & Co. LLC acted as the financial advisor to Enstar, while Paul, Weiss, Rifkind, Wharton & Garrison LLP and Hogan Lovells US LLP served as legal advisors. On the other hand, Ardea Partners LP, Barclays PLC, and J.P. Morgan Securities LLC acted as financial advisors to Sixth Street, with Simpson Thacher & Bartlett LLP, Debevoise & Plimpton LLP, and Cleary Gottlieb Steen & Hamilton LLP providing legal advisory services.

This acquisition marks a significant transition for Enstar as they embark on their journey as a privately held company, supported by Sixth Street and other institutional investors. The market has reacted to these announcements by moving the company's shares 0.46% to a price of $337.91. For more information, read the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.