M&A · Financials · State Commercial Banks
Hometown Financial Group, Inc. to acquire Randolph Bancorp, Inc.
Announced Mar 28, 2022 · Closed Oct 7, 2022
Deal value$147M
Premium29.4%To unaffected price
EV / Adj. EBITDA—
ConsiderationNot disclosed
Transaction
- Acquirer
- Hometown Financial Group, Inc.
- Target
- Randolph Bancorp, Inc. (RNDB)
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- —
- Status
- Closed Oct 7, 2022
Deal protections
- Break fee (target pays)
- $5.8M · 3.9%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Piper Sandler
- To the target
- Stifel
Sector context · Financials
- Comparable deals
- 73 in the prior 24 months
- Premium
- 29.4% vs. 35.7% sector median
- EV / Adj. EBITDA
- Sector median 21.7x
- Break fee
- 3.9% vs. 3.6% sector median
Timeline
- AnnouncedMar 28, 2022
- Proxy filedMay 2, 2022
- Definitive proxyMay 25, 2022
- Shareholder voteJun 29, 2022
- ClosedOct 7, 2022
Valuation · fairness opinions
Discounted cash flow$16.98$21.87
Implied value per Randolph Bancorp, Inc. share by analysis, from Stifel · DCF discount rate 12%–17%.