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  • Seller
  • Buyer
  • Type
  • Date Announced
  • Seller AUM
  • MBIA Inc. ( MBIA MuniServices Company)
  • Management
  • Management Buyout
  • December 8, 2006
  • N/A

Seller Details

MBIA Inc., through its subsidiaries, is a leading financial guarantor and provider of specialized financial services. MBIA's innovative and cost-effective products and services meet the credit enhancement, financial and investment needs of its public and private sector clients, domestically and internationally. MBIA MuniServices Company provides a range of services that can be divided into three distinct types: Revenue Enhancement Services; Consulting Services; and Technology Products.

Buyer Details

MBIA MuniServices Company's management team is led by Marc Herman, President & Chief Operating Officer and Kevin Cerutti, Chief Financial Officer.

Transaction Summary

After concluding that MMC no longer represented a core business, MBIA elected to pursue opportunities to divest the business. The sale to management brings the additional strategic benefit of enhancing the alignment of interests between MMC management and its clients. MMC will remain in its present location in California with no service disruption as a result of the transaction.

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