Apollo Global Management Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Apollo Global Management has acquired 16 companies. It has also invested in 5 others.

Apollo Global Management’s most common sectors for investment are financial services (8%) and retail (7%). The Firm’s most common investment types include going private (26%) and secondary buyout (22%). In total, Apollo Global Management has invested in 24 US states and 13 different countries. Its largest (disclosed) acquisition occurred in 2008 when it acquired Caesars Entertainment for $30.7B.

In the last 3 years, Apollo Global Management has exited 19 companies. The Firm’s most common exit type is trade sale (31%). Apollo Global Management’s largest (disclosed) exit occurred in 2021 when it sold Tech Data for $7.2B.

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M&A Summary

  • M&A Total Activity133
    • M&A Buy Activity91
    • M&A Sell Activity42
  • Total Sectors Invested 38
  • Total Countries Invested 13
  • M&A Buy/Sell Connections 61
  • M&A Advisors 32

Apollo Global Management LLC

9 West 57th Street, 43rd Floor,
New York, New York 10019
United States
(212) 515-3200
www.agm.com

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.


Investment Criteria

Sectors of Interest: Business Services, Chemicals, Communications, Consumer Products, Distribution, Environmental, Financial Services, Food, Gaming, Information Technology, Insurance, Leisure, Machinery, Media, Packaging, Plastics, Publishing, Retail, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Special Situations/Distressed, Secondary Buyout

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value - -

M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (5.8/yr) # 62 8 6 10 3 2 91
vol $93.9B $6.5B $5.6B $9.7B $5.0B $120.8B
Sell (4.2/yr) # 21 2 6 7 2 4 42
vol $5.0B $3.3B $2.6B $676M $970M $15.0B $27.5B
  133

Most Recent M&A

Company Date Value Type
ABC Technologies Inc. 2021-04-13 - Going Private
Toronto, Ontario · www.abctechnologies.com
DoublePoint Energy 2021-04-01 6.4B USD Add-on Acquisition
Fort Worth, Texas
Tech Data Corporation 2021-03-22 7.2B USD Merger
Clearwater, Florida · www.techdata.com
Sun Country Airlines, Inc. 2021-03-17 - IPO
St. Paul, Minnesota · www.suncountry.com
Diamond Resorts International, Inc. 2021-03-10 1.4B USD Add-on Acquisition
Las Vegas, Nevada · www.diamondresorts.com
The Michaels Companies, Inc. 2021-03-03 5.0B USD Going Private
Irving, Texas · www.michaels.com
Parallel Infrastructure 2020-10-14 - Divestiture
Charlotte, North Carolina
Rackspace Technology, Inc. 2020-07-29 - IPO
San Antonio, Texas · www.rackspace.com
Expedia Group, Inc. 2020-04-23 - Stake Purchase
Seattle, Washington · www.expediagroup.com
Smart Foodservice Warehouse Stores LLC 2020-03-06 970M USD Add-on Acquisition
Clackamas, Oregon · www.smartfoodservice.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Intrado Corp. 2017-05-09 ZFERRAL, Inc. 2021-01-26 3
Omaha, Nebraska · www.intrado.com Royal Oak, Michigan · www.getambassador.com
Gamenet SpA 2019-10-23 Lottomatica Holding Srl 2020-12-07 1
Roma, Italy · www.gamenet.it Rome, Italy · www.lottomaticaitalia.it
Intrado Corp. 2017-05-09 Health Advocate, Inc. 2020-10-27 2
Omaha, Nebraska · www.intrado.com Plymouth Meeting, Pennsylvania · www.healthadvocate.com
Aspen Insurance Holdings Ltd. 2018-08-27 Amynta Surety Solutions 2020-07-16 1
Hamilton, Bermuda · www.aspen.co Glastonbury, Connecticut
Cox Media Group, Inc. 2019-12-17 Cox Media Group, Inc. - Three Ohio Newspapers 2020-02-10 1
Atlanta, Georgia · www.coxmediagroup.com Atlanta, Georgia
Intrado Corp. 2017-05-09 Accent 2019-12-23 1
Omaha, Nebraska · www.intrado.com Omaha, Nebraska · www.onlineaccent.com
ClubCorp Holdings, Inc. 2017-07-09 Toll Brothers, Inc. - Seven Golf Clubs 2019-10-31 1
Dallas, Texas · www.clubcorp.com Horsham, Pennsylvania
MidCap Financial, LLC 2013-11-18 The PNC Financial Services Group, Inc. - Franchise Finance Business 2019-10-01 2
Bethesda, Maryland · www.midcapfinancial.com Pittsburgh, Pennsylvania
Maxim Crane Works LP 2016-05-02 B&G Crane Service LLC 2019-03-01 4
Bridgeville, Pennsylvania · www.maximcrane.com Jefferson, Louisiana · www.bgcrane.com
LifePoint Health, Inc. 2018-07-23 RCCH HealthCare Partners 2018-07-23 1
Brentwood, Tennessee · www.lifepointhealth.net Brentwood, Tennessee · www.rcchhealth.com

M&A by Sector

Sector Current # Value All-time # Value
Financial Services 5 (9%) 282M (1%) 7 (8%) 349M (< 1%)
Retail 3 (6%) 7.5B (21%) 6 (7%) 12.1B (10%)
Business Services 5 (9%) 400M (1%) 5 (5%) 400M (< 1%)
Chemicals 2 (4%) 1.0B (3%) 4 (4%) 6.6B (5%)
Consumer Products 1 (2%) - 4 (4%) 2.6B (2%)
Insurance 3 (6%) - 4 (4%) 1.4B (1%)
Gaming 1 (2%) - 3 (3%) 30.7B (25%)
Safety/Security 2 (4%) - 3 (3%) 15.0B (12%)
Consumer Services 2 (4%) 1.6B (5%) 3 (3%) 10.1B (8%)
Internet Software and Services 3 (6%) 7.8B (22%) 3 (3%) 7.8B (6%)
Healthcare Services 3 (6%) 5.6B (16%) 3 (3%) 5.6B (5%)
Leisure 1 (2%) 1.1B (3%) 3 (3%) 4.0B (3%)
Media 2 (4%) 2.5B (7%) 3 (3%) 2.5B (2%)
Metals/Mining 1 (2%) - 3 (3%) 690M (1%)
Energy Services and Equipment 2 (4%) - 3 (3%) -
Information Technology - - 2 (2%) 4.3B (4%)
Manufacturing 2 (4%) 4.3B (12%) 2 (2%) 4.3B (4%)
Plastics - - 2 (2%) 2.3B (2%)
Restaurants 1 (2%) 305M (1%) 2 (2%) 1.3B (1%)
Building Materials 1 (2%) - 2 (2%) -
Education 1 (2%) - 2 (2%) -
Engineering 1 (2%) - 2 (2%) -
Infrastructure 2 (4%) - 2 (2%) -
Machinery - - 2 (2%) -
Oil/Gas Exploration 1 (2%) - 2 (2%) -
Transportation 2 (4%) - 2 (2%) -
Distribution - - 1 (1%) 5.4B (4%)
Semiconductors 1 (2%) 2.0B (6%) 1 (1%) 2.0B (2%)
Franchising - - 1 (1%) 1.0B (1%)
Real Estate 1 (2%) 530M (2%) 1 (1%) 530M (< 1%)
Airlines - - 1 (1%) -
Automotive 1 (2%) - 1 (1%) -
Communications 1 (2%) - 1 (1%) -
Electrical Equipment - - 1 (1%) -
Food - - 1 (1%) -
Forest Products 1 (2%) - 1 (1%) -
Life Science 1 (2%) - 1 (1%) -
Marketing 1 (2%) - 1 (1%) -
Total 54 $34.9B 91 $120.8B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 36 (67%) 27.8B (80%) 66 (73%) 112.2B (93%)
  Texas 4 (7%) 6.1B (17%) 8 (9%) 11.3B (9%)
  California 4 (7%) 3.8B (11%) 8 (9%) 8.2B (7%)
  New York 3 (6%) 2.5B (7%) 5 (5%) 2.5B (2%)
  Pennsylvania 3 (6%) - 5 (5%) 2.1B (2%)
  Ohio 3 (6%) 1.0B (3%) 4 (4%) 1.7B (1%)
  North Carolina 3 (6%) 1.4B (4%) 4 (4%) 1.4B (1%)
  Connecticut 3 (6%) 400M (1%) 4 (4%) 400M (< 1%)
  Tennessee 3 (6%) 5.6B (16%) 3 (3%) 5.6B (5%)
  Colorado 1 (2%) 305M (1%) 3 (3%) 305M (< 1%)
  Florida - - 3 (3%) 23.5B (19%)
  Washington 2 (4%) 1.6B (5%) 2 (2%) 1.6B (1%)
  Indiana 1 (2%) - 2 (2%) 2.3B (2%)
  Maryland 1 (2%) - 2 (2%) -
  Nevada - - 2 (2%) 32.9B (27%)
  Illinois - - 2 (2%) 4.9B (4%)
  Nebraska 1 (2%) 5.1B (15%) 1 (1%) 5.1B (4%)
  Virginia 1 (2%) - 1 (1%) -
  Kansas 1 (2%) - 1 (1%) -
  Georgia 1 (2%) - 1 (1%) -
  Arizona 1 (2%) - 1 (1%) -
  New Jersey - - 1 (1%) 8.5B (7%)
  Missouri - - 1 (1%) -
  Minnesota - - 1 (1%) -
  Michigan - - 1 (1%) -
United Kingdom 3 (6%) - 6 (7%) 1.4B (1%)
Netherlands 2 (4%) 2.0B (6%) 4 (4%) 2.0B (2%)
France 2 (4%) 3.9B (11%) 2 (2%) 3.9B (3%)
Italy 2 (4%) - 2 (2%) -
Australia 2 (4%) - 2 (2%) -
Bermuda 2 (4%) - 2 (2%) -
Canada 1 (2%) - 2 (2%) -
  Ontario 1 (2%) - 1 (1%) -
  Alberta - - 1 (1%) -
Switzerland 1 (2%) 975M (3%) 1 (1%) 975M (1%)
Slovenia 1 (2%) 282M (1%) 1 (1%) 282M (< 1%)
Estonia 1 (2%) - 1 (1%) -
Luxembourg 1 (2%) - 1 (1%) -
Spain - - 1 (1%) 68M (< 1%)
Domestic 36 (67%) 27.8B (80%) 66 (73%) 112.2B (93%)
Cross-border 18 (33%) 7.1B (20%) 25 (27%) 8.5B (7%)
Total 54 $34.9B 91 $120.8B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Going Private 10 (19%) 17.9B (51%) 23 (25%) 92.6B (77%)
Secondary Buyout 14 (26%) 1.1B (3%) 20 (22%) 4.7B (4%)
Divestiture 11 (20%) 10.0B (29%) 15 (16%) 14.3B (12%)
Buyout (LBO, MBO, MBI) 6 (11%) 5.9B (17%) 12 (13%) 7.4B (6%)
Growth Capital 3 (6%) - 5 (5%) -
Special Situations/Distressed 2 (4%) - 4 (4%) 690M (1%)
Stake Purchase 3 (6%) - 4 (4%) -
Joint Venture 2 (4%) - 3 (3%) -
Recapitalization 1 (2%) - 2 (2%) -
Acquisition Financing 1 (2%) - 1 (1%) -
Consolidation - - 1 (1%) -
PIPE 1 (2%) - 1 (1%) -
Total 54 $34.9B 91 $119.8B

Exits by Deal Type

Type Total # Value
Secondary Sale 12 (29%) 2.7B (10%)
IPO 12 (29%) -
Trade Sale - Public Company 7 (17%) 14.5B (53%)
Trade Sale 5 (12%) 3.0B (11%)
Merger 3 (7%) 7.2B (26%)
Bankruptcy 2 (5%) -
Divestiture 1 (2%) 101M (< 1%)
Total 42 $27.5B

Top M&A Advisors

Financial Deals
Barclays Investment Bank
10
Credit Suisse Investment Banking
8
Citigroup Investment Banking
7
Legal Deals
Paul, Weiss, Rifkind, Wharton & Garrison LLP
23
Wachtell, Lipton, Rosen & Katz LLP
6
Morgan, Lewis & Bockius LLP
5

Deal Values

buy # Total
> $1B 26 $114.3B
$100M to $1B 10 $6.4B
< $100M 1 $68M
TOTAL $120.8B
Largest Caesars Entertainment Corp.
$30.7B (2008-01-01)
sell # Total
> $1B 7 $24.4B
$100M to $1B 5 $3.0B
TOTAL $27.5B
Largest Tech Data Corporation
$7.2B (2021-03-22)

M&A Connections

Deals
Acquired from
Investor(s)
24%
22 (24%)
Strategic(s)
16%
15 (16%)
Exited to
Investor(s)
29%
12 (29%)
Strategic(s)
38%
16 (38%)

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