Advent International Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Advent International has acquired 37 companies. It has also invested in 19 others.

Advent International’s most common sectors for investment areinformation technology (10%) and financial services (10%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (46%) and secondary buyout (17%). In total, Advent International has invested in 24 US states and 37 different countries. Its largest (disclosed) acquisition occurred in 2021 when it acquired McAfee for $14.0B.

In the last 3 years, Advent International has exited 22 companies. The Firm’s most common exit type is trade sale (39%). Advent International’s largest (disclosed) exit occurred in 2017 when it sold Worldpay UK for $12.0B.

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M&A Summary

  • M&A Total Activity516
    • M&A Buy Activity319
    • M&A Sell Activity197
  • Total Sectors Invested 47
  • Total Countries Invested 37
  • M&A Buy/Sell Connections 185
  • M&A Advisors 57

Advent International

800 Boylston Street,
Boston, Massachusetts 02109
United States
(617) 951-9400
www.adventinternational.com
LPS@adventinternational.com

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


Investment Criteria

Sectors of Interest: Building Materials, Business Services, Chemicals, Communications, Consumer Products, Consumer Services, Digital Media, Distribution, E-Commerce, Energy Services and Equipment, Financial Services, Healthcare Services, Information Technology, Internet Software and Services, Leisure, Life Science, Machinery, Manufacturing, Marketing, Media, Medical Products, Restaurants, Retail, Software, Technology Hardware

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Going Private, Growth Capital, Recapitalization, Special Situations/Distressed, Secondary Buyout, Stake Purchase, Venture

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Eastern Europe, Scandinavia, Asia/Pacific, Central Asia/India, Latin/South America

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 50 2,000
Enterprise Value 50 5,000
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (13.2/yr) # 253 10 15 15 18 8 319
vol $29.1B $7.0B $3.4B $10.8B $14.0B $64.2B
Sell (6.2/yr) # 167 9 3 3 14 2 198
vol $39.0B $3.2B $2.1B $7.6B $52.0B
  517

Most Recent M&A

Company Date Value Type
Grupo Farmacéutico SOMAR 2022-05-17 - Add-on Acquisition
Benito Juarez , Mexico · www.gruposomar.com
GHL Hotels 2022-05-03 - Growth Capital
Bogota, Colombia · www.ghlhoteles.com
Imperial Dade 2022-05-02 - Secondary Buyout
Jersey City, New Jersey · www.imperialdade.com
IRCA S.p.A 2022-04-11 - Secondary Buyout
Gallarate, Italy · www.irca.eu
Mangopay.com 2022-04-06 - Growth Capital
Luxembourg, Luxembourg · www.mangopay.com
Leetchi SA 2022-04-06 - Divestiture
Paris, France · www.leetchi.com
CertiK 2022-04-06 - Venture
New York, New York · www.certik.com
Medius Sverige AB 2022-03-16 - Secondary Buyout
Linkoping, Sweden · www.medius.com
Tigre S/A 2022-02-18 - Stake Purchase
Joinville, Brazil · www.tigre.com.br
ASK Investment Managers Pvt. Ltd. 2022-02-14 - Secondary Buyout
Mumbai, India · www.askfinancials.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
AccentCare, Inc. 2019-05-16 Southeastern Home Health Services, Inc. 2021-06-28 2
Dallas, Texas · www.accentcare.com Bristol, Pennsylvania · www.sehomehealth.com
Xplor Technologies 2021-02-25 Clearent LLC 2021-02-25 2
Atlanta, Georgia · www.xplortechnologies.com Creve Coeur, Missouri · www.clearent.com
Xplor Technologies 2021-02-25 Transaction Services Group 2021-02-25 1
Atlanta, Georgia · www.xplortechnologies.com Auckland, New Zealand · www.transactionservices.co.nz
TK Elevator GmbH 2020-02-27 Sdiptech AB - Swedish Elevator Business 2021-02-19 6
Düsseldorf, Germany · www.tkelevator.com Stockholm, Sweden
Cobham Ltd. 2020-01-22 Cobham Mission Systems Wimborne Ltd. 2021-02-01 1
Bournemouth, United Kingdom · www.cobham.com Wimborne, United Kingdom · www.cobhammissionsystems.com
Industria Chimica Emiliana 2019-09-30 New Zealand Pharmaceuticals Ltd. 2020-08-17 1
Reggio Emilia, Italy · www.iceitaly.com Palmerston North, New Zealand · www.nzp.co.nz
Ansira Holdings, Inc. 2016-11-17 CDK Global, Inc. - Digital Marketing Business 2020-02-20 6
St. Louis, Missouri · www.ansira.com Hoffman Estates, Illinois
Zentiva Group a.s. 2018-04-17 Alvogen CEE 2019-10-25 1
Prague, Czech Republic · www.zentiva.com , Poland
Aimbridge Hospitality 2019-01-07 Interstate Hotels & Resorts, Inc. 2019-08-29 2
Plano, Texas · www.aimbridgehospitality.com Arlington, Virginia · www.interstatehotels.com
Sovos Brands Intermediate, Inc. 2017-01-01 Noosa Yoghurt LLC 2018-10-30 4
Berkeley, California · www.sovosbrands.com Bellvue, Colorado · www.noosayoghurt.com

M&A by Sector

Sector Current # Value All-time # Value
Information Technology 18 (17%) 18.7B (49%) 31 (10%) 21.4B (32%)
Financial Services 8 (8%) 3.1B (8%) 29 (9%) 9.2B (14%)
Retail 2 (2%) - 20 (6%) 3.0B (4%)
Business Services 3 (3%) - 19 (6%) 422M (1%)
Life Science 7 (7%) 2.2B (6%) 18 (6%) 2.4B (4%)
Healthcare Services 5 (5%) - 18 (6%) 2.0B (3%)
Communications - - 18 (6%) 1.1B (2%)
Consumer Products 9 (9%) - 17 (5%) 3.1B (5%)
Software 9 (9%) - 16 (5%) 1.6B (2%)
Internet Software and Services 4 (4%) - 11 (3%) 2.2B (3%)
Food 3 (3%) - 11 (3%) 212M (< 1%)
Chemicals 3 (3%) 3.4B (9%) 10 (3%) 4.4B (7%)
Distribution 3 (3%) - 9 (3%) 341M (1%)
Media - - 7 (2%) -
Apparel/Textiles 3 (3%) - 6 (2%) 120M (< 1%)
Restaurants 2 (2%) - 6 (2%) -
Consumer Services 1 (1%) - 5 (2%) 1.1B (2%)
Machinery 1 (1%) - 5 (2%) 915M (1%)
Building Materials - - 5 (2%) 39M (< 1%)
Marketing 3 (3%) - 5 (2%) -
Energy Services and Equipment 2 (2%) 3.7B (10%) 4 (1%) 4.2B (6%)
Manufacturing - - 4 (1%) 1.5B (2%)
Education 2 (2%) - 4 (1%) -
Medical Products 1 (1%) - 4 (1%) -
Information Services 1 (1%) - 3 (1%) 123M (< 1%)
Beverages - - 3 (1%) -
Leisure 2 (2%) - 3 (1%) -
Transportation 3 (3%) - 3 (1%) -
Metals/Mining 1 (1%) 1.3B (3%) 2 (1%) 1.3B (2%)
Electrical Equipment 1 (1%) - 2 (1%) -
Engineering - - 2 (1%) -
Marine 1 (1%) - 2 (1%) -
Packaging 2 (2%) - 2 (1%) -
Plastics - - 2 (1%) -
Technology Hardware 1 (1%) - 2 (1%) -
Defense 1 (1%) 6.2B (16%) 1 (< 1%) 6.2B (9%)
Aerospace - - 1 (< 1%) -
Agriculture - - 1 (< 1%) -
Automotive 1 (1%) - 1 (< 1%) -
Construction 1 (1%) - 1 (< 1%) -
Electronics - - 1 (< 1%) -
Environmental - - 1 (< 1%) -
Publishing - - 1 (< 1%) -
Safety/Security - - 1 (< 1%) -
Semiconductors - - 1 (< 1%) -
Staffing - - 1 (< 1%) -
Test/Measurement Equipment - - 1 (< 1%) -
Total 104 $38.4B 320 $66.9B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 33 (32%) 18.6B (48%) 97 (30%) 24.6B (37%)
  Massachusetts 2 (2%) - 16 (5%) -
  California 8 (8%) 15.9B (41%) 13 (4%) 16.3B (24%)
  New York 7 (7%) - 13 (4%) -
  Texas 3 (3%) - 9 (3%) -
  Illinois 3 (3%) 2.7B (7%) 6 (2%) 3.6B (5%)
  New Jersey 1 (1%) - 6 (2%) 3.8B (6%)
  Georgia 2 (2%) - 5 (2%) -
  Utah 1 (1%) - 4 (1%) 545M (1%)
  Florida 1 (1%) - 4 (1%) 120M (< 1%)
  Colorado 1 (1%) - 3 (1%) -
  Pennsylvania - - 3 (1%) -
  Washington 1 (1%) - 2 (1%) -
  Missouri 1 (1%) - 2 (1%) -
  Arizona 1 (1%) - 1 (< 1%) -
  Alabama 1 (1%) - 1 (< 1%) -
  Minnesota - - 1 (< 1%) 130M (< 1%)
  Maryland - - 1 (< 1%) 115M (< 1%)
  Virginia - - 1 (< 1%) -
  Tennessee - - 1 (< 1%) -
  Ohio - - 1 (< 1%) -
  North Carolina - - 1 (< 1%) -
  New Hampshire - - 1 (< 1%) -
  Michigan - - 1 (< 1%) -
  Kansas - - 1 (< 1%) -
United Kingdom 7 (7%) 6.2B (16%) 36 (11%) 16.2B (24%)
Brazil 12 (12%) - 24 (8%) -
Germany 7 (7%) 4.7B (12%) 20 (6%) 6.6B (10%)
France 4 (4%) - 16 (5%) 4.3B (6%)
Mexico 4 (4%) - 14 (4%) 441M (1%)
India 10 (10%) - 12 (4%) -
Italy 4 (4%) 2.4B (6%) 10 (3%) 3.5B (5%)
Poland 1 (1%) - 9 (3%) -
Netherlands 1 (1%) - 8 (3%) 1.6B (2%)
Romania - - 7 (2%) 178M (< 1%)
Spain - - 7 (2%) -
Argentina 2 (2%) - 6 (2%) -
Czech Republic 1 (1%) 2.2B (6%) 6 (2%) 2.2B (3%)
Denmark - - 5 (2%) 2.6B (4%)
Hungary - - 5 (2%) 212M (< 1%)
Colombia 3 (3%) 418M (1%) 3 (1%) 418M (1%)
Uruguay - - 3 (1%) 167M (< 1%)
Bulgaria - - 3 (1%) -
Turkey - - 3 (1%) -
Austria 2 (2%) 3.3B (8%) 2 (1%) 3.3B (5%)
China 2 (2%) - 2 (1%) -
Sweden 2 (2%) - 2 (1%) -
Ireland 1 (1%) 659M (2%) 2 (1%) 659M (1%)
Canada 1 (1%) - 2 (1%) -
  British Columbia 1 (1%) - 2 (1%) -
Luxembourg 1 (1%) - 2 (1%) -
Singapore 1 (1%) - 2 (1%) -
Switzerland 1 (1%) - 2 (1%) -
Belgium - - 2 (1%) -
Peru 1 (1%) 85M (< 1%) 1 (< 1%) 85M (< 1%)
Chile 1 (1%) - 1 (< 1%) -
Costa Rica 1 (1%) - 1 (< 1%) -
Israel 1 (1%) - 1 (< 1%) -
Dominican Republic - - 1 (< 1%) -
New Zealand - - 1 (< 1%) -
Slovakia - - 1 (< 1%) -
Ukraine - - 1 (< 1%) -
Domestic 33 (32%) 18.6B (48%) 97 (30%) 24.6B (37%)
Cross-border 71 (68%) 19.8B (52%) 223 (70%) 42.3B (63%)
Total 104 $38.4B 320 $66.9B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 23 (22%) 2.4B (6%) 146 (46%) 5.0B (8%)
Secondary Buyout 21 (20%) 659M (2%) 52 (16%) 4.9B (8%)
Divestiture 20 (19%) 13.3B (35%) 35 (11%) 20.2B (32%)
Growth Capital 12 (12%) - 25 (8%) -
Going Private 4 (4%) 22.1B (57%) 15 (5%) 29.3B (47%)
Venture 9 (9%) - 15 (5%) -
Recapitalization 3 (3%) - 13 (4%) 2.9B (5%)
Stake Purchase 9 (9%) - 12 (4%) -
PIPE 2 (2%) - 3 (1%) -
Consolidation 1 (1%) - 2 (1%) -
Add-on Acquisition - - 1 (< 1%) -
Joint Venture - - 1 (< 1%) -
Total 104 $38.4B 320 $62.3B

Exits by Deal Type

Type Total # Value
Secondary Sale 54 (27%) 12.9B (25%)
Trade Sale 50 (25%) 7.0B (14%)
Trade Sale - Public Company 44 (22%) 19.6B (38%)
IPO 26 (13%) -
Merger 8 (4%) 12.0B (23%)
Stake Sale 4 (2%) -
Shut Down 3 (2%) -
Sold to Management 3 (2%) -
Bankruptcy 2 (1%) -
Divestiture 1 (1%) -
Recapitalization 1 (1%) -
Sold to Existing Investors 1 (1%) -
SPAC 1 (1%) -
Total 198 $51.5B

Top M&A Advisors

Financial Deals
Goldman Sachs Investment Banking Division
 8
Deutsche Bank Corporate & Investment Banking
 8
Rothschild Global Advisory
 5
Legal Deals
Weil Gotshal & Manges LLP
 18
Ropes & Gray LLP
 8
Kirkland & Ellis LLP
 4

Deal Values

buy # Total
> $1B 20 $58.7B
$100M to $1B 22 $8.0B
< $100M 2 $124M
TOTAL $66.9B
Largest McAfee Corp.
$14.0B (2021-11-08)
sell # Total
> $1B 16 $38.6B
$100M to $1B 26 $13.0B
< $100M 9 $400M
TOTAL $52.0B
Largest Worldpay UK Ltd.
$12.0B (2017-08-09)

M&A Connections

Deals
Acquired from
Investor(s)
18%
56 (18%)
Strategic(s)
12%
37 (12%)
Exited to
Investor(s)
28%
56 (28%)
Strategic(s)
42%
84 (42%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

76.0B USD

Established

1984

Specialist/Generalist

Generalist

Leadership

Bryan Taylor

Managing Partner

Chris Egan

Managing Partner

Chris Pike

Managing Partner

David McKenna

Managing Partner

David Mussafer

Managing Partner

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