Apollo Global Management Mergers and Acquisitions Summary

Asset Manager Profile

In the last 3 years, Apollo Global Management has acquired 25 companies. It has also invested in 7 others.

Apollo Global Management’s most common sectors for investment arefinancial services (7%) and retail (6%) . The Firm’s most common investment types include going private (25%) and secondary buyout (22%). In total, Apollo Global Management has invested in 25 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 21 companies. The Firm’s most common exit type is trade sale (32%). 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 Activity147
    • M&A Buy Activity102
    • M&A Sell Activity45
  • Total Sectors Invested 42
  • Total Countries Invested 13
  • M&A Buy/Sell Connections 68
  • M&A Advisors 37

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 (8.0/yr) # 62 8 6 10 4 12 102
vol $93.9B $6.5B $5.6B $9.7B $17.8B $133.6B
Sell (4.6/yr) # 22 2 6 7 2 6 45
vol $5.0B $3.3B $2.6B $676M $970M $20.1B $32.6B
  147

Most Recent M&A

Company Date Value Type
Smart Start, LLC 2021-11-08 - Secondary Buyout
Grapevine, Texas · www.smartstartinc.com
Great Canadian Gaming Corp. 2021-09-22 - Going Private
North York, British Columbia · www.gcgaming.com
FlexGen Power Systems, Inc. 2021-08-25 - Growth Capital
Durham, North Carolina · www.flexgen.com
ILEC Business 2021-08-03 7.5B USD Divestiture
Monroe, Louisiana
The New Home Co., Inc. 2021-07-23 338M USD Going Private
Irvine, California · www.nwhm.com
Reno De Medici S.p.A. 2021-07-05 - Stake Purchase
Milan, Italy · www.rdmgroup.com
McGraw-Hill Education, Inc. 2021-06-15 4.5B USD Secondary Buyout
New York, New York · www.mheducation.com
Tops LLC 2021-06-08 - Secondary Buyout
Midland, Texas · www.total-operations.com
EmployBridge, Inc. 2021-06-03 - Divestiture
Atlanta, Georgia · www.employbridge.com
Smart & Final, Inc. 2021-05-13 620M USD Add-on Acquisition
Commerce, California · www.smartandfinal.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Showa Aluminum Can Corp. 2021-01-28 Universal Can Corp. 2021-11-25 2
Tokyo, Japan Tokyo, Japan · www.unican.co.jp
Showa Aluminum Can Corp. 2021-01-28 Mitsubishi Aluminum - Aluminum Rolled & Extruded Products Business 2021-11-25 1
Tokyo, Japan Shizuoka, Japan
EmployBridge, Inc. 2021-06-03 Hire Dynamics LLC 2021-11-09 1
Atlanta, Georgia · www.employbridge.com Duluth, Georgia · www.hiredynamics.com
Protection One, Inc. 2015-07-01 Advanced Solutions, Inc. 2021-10-12 1
Lawrence, Kansas · www.protection1.com Montgomery, Alabama
Takkion 2020-01-13 Airway Services, Inc. 2021-10-05 1
Dallas, Texas · www.takkion.com San Angelo, Texas · www.airwayservicesinc.com
Intrado Corp. 2017-05-09 Hubb, Inc. 2021-08-13 10
Omaha, Nebraska · www.intrado.com Vancouver, Washington · www.hubb.me
LifePoint Health, Inc. 2018-07-23 Kindred Healthcare LLC 2021-06-21 2
Brentwood, Tennessee · www.lifepointhealth.net Louisville, Kentucky · www.kindredhealthcare.com
Shutterfly, Inc. 2019-06-10 Spoonflower, Inc. 2021-06-14 1
Redwood City, California · www.shutterfly.com Durham, North Carolina · www.spoonflower.com
Venerable Holdings, Inc. 2017-12-21 Corporate Solutions Life Reinsurance Co. 2021-06-01 1
West Chester, Pennsylvania · www.venerableannuity.com New York, New York
Intrado Corp. 2017-05-09 ZFERRAL, Inc. 2021-01-26 3
Omaha, Nebraska · www.intrado.com Royal Oak, Michigan · www.getambassador.com

M&A by Sector

Sector Current # Value All-time # Value
Financial Services 5 (8%) 282M (1%) 7 (7%) 349M (< 1%)
Retail 2 (3%) 6.4B (14%) 6 (6%) 12.1B (9%)
Business Services 4 (7%) 400M (1%) 5 (5%) 400M (< 1%)
Energy Services and Equipment 4 (7%) - 5 (5%) -
Gaming 2 (3%) - 4 (4%) 30.7B (23%)
Chemicals 2 (3%) 1.0B (2%) 4 (4%) 6.6B (5%)
Consumer Products 1 (2%) - 4 (4%) 2.6B (2%)
Insurance 3 (5%) - 4 (4%) 1.4B (1%)
Safety/Security 2 (3%) - 3 (3%) 15.0B (11%)
Consumer Services 2 (3%) 1.6B (4%) 3 (3%) 10.1B (8%)
Internet Software and Services 3 (5%) 7.8B (18%) 3 (3%) 7.8B (6%)
Healthcare Services 3 (5%) 5.6B (13%) 3 (3%) 5.6B (4%)
Media 2 (3%) 5.0B (11%) 3 (3%) 5.0B (4%)
Leisure 1 (2%) 1.1B (2%) 3 (3%) 4.0B (3%)
Education 1 (2%) - 3 (3%) 2.5B (2%)
Metals/Mining 1 (2%) - 3 (3%) 690M (1%)
Transportation 3 (5%) - 3 (3%) -
Communications 2 (3%) 7.5B (17%) 2 (2%) 7.5B (6%)
Information Technology - - 2 (2%) 4.3B (3%)
Manufacturing 2 (3%) 4.3B (10%) 2 (2%) 4.3B (3%)
Plastics - - 2 (2%) 2.3B (2%)
Restaurants 1 (2%) 305M (1%) 2 (2%) 1.3B (1%)
Building Materials - - 2 (2%) -
Engineering 1 (2%) - 2 (2%) -
Forest Products 2 (3%) - 2 (2%) -
Infrastructure 2 (3%) - 2 (2%) -
Machinery - - 2 (2%) -
Oil/Gas Exploration 1 (2%) - 2 (2%) -
Distribution - - 1 (1%) 5.4B (4%)
Semiconductors 1 (2%) 2.0B (5%) 1 (1%) 2.0B (1%)
Franchising - - 1 (1%) 1.0B (1%)
Real Estate 1 (2%) 530M (1%) 1 (1%) 530M (< 1%)
Construction 1 (2%) 338M (1%) 1 (1%) 338M (< 1%)
Airlines - - 1 (1%) -
Automotive 1 (2%) - 1 (1%) -
Electrical Equipment - - 1 (1%) -
Food - - 1 (1%) -
Life Science 1 (2%) - 1 (1%) -
Marketing 1 (2%) - 1 (1%) -
Packaging 1 (2%) - 1 (1%) -
Staffing 1 (2%) - 1 (1%) -
Test/Measurement Equipment 1 (2%) - 1 (1%) -
Total 61 $44.1B 102 $133.6B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 41 (67%) 37.0B (84%) 74 (73%) 125.1B (94%)
  Texas 7 (11%) 6.1B (14%) 11 (11%) 11.3B (8%)
  California 4 (7%) 3.0B (7%) 9 (9%) 8.5B (6%)
  Pennsylvania 4 (7%) - 6 (6%) 2.1B (2%)
  North Carolina 4 (7%) 1.4B (3%) 5 (5%) 1.4B (1%)
  New York 2 (3%) 5.0B (11%) 5 (5%) 7.5B (6%)
  Ohio 3 (5%) 1.0B (2%) 4 (4%) 1.7B (1%)
  Connecticut 3 (5%) 400M (1%) 4 (4%) 400M (< 1%)
  Florida - - 4 (4%) 23.5B (18%)
  Colorado 1 (2%) 305M (1%) 3 (3%) 305M (< 1%)
  Tennessee 2 (3%) 5.6B (13%) 2 (2%) 5.6B (4%)
  Washington 2 (3%) 1.6B (4%) 2 (2%) 1.6B (1%)
  Georgia 2 (3%) - 2 (2%) -
  Indiana 1 (2%) - 2 (2%) 2.3B (2%)
  Maryland 1 (2%) - 2 (2%) -
  Nevada - - 2 (2%) 32.9B (25%)
  Illinois - - 2 (2%) 4.9B (4%)
  Louisiana 1 (2%) 7.5B (17%) 1 (1%) 7.5B (6%)
  Nebraska 1 (2%) 5.1B (12%) 1 (1%) 5.1B (4%)
  Kansas 1 (2%) - 1 (1%) -
  Arizona 1 (2%) - 1 (1%) -
  Virginia 1 (2%) - 1 (1%) -
  New Jersey - - 1 (1%) 8.5B (6%)
  Michigan - - 1 (1%) -
  Missouri - - 1 (1%) -
  Minnesota - - 1 (1%) -
United Kingdom 3 (5%) - 7 (7%) 1.4B (1%)
Italy 3 (5%) - 3 (3%) -
France 2 (3%) 3.9B (9%) 3 (3%) 3.9B (3%)
Netherlands 2 (3%) 2.0B (5%) 3 (3%) 2.0B (1%)
Canada 2 (3%) - 3 (3%) -
  Ontario 1 (2%) - 1 (1%) -
  British Columbia 1 (2%) - 1 (1%) -
  Alberta - - 1 (1%) -
Australia 2 (3%) - 2 (2%) -
Bermuda 2 (3%) - 2 (2%) -
Switzerland 1 (2%) 975M (2%) 1 (1%) 975M (1%)
Slovenia 1 (2%) 282M (1%) 1 (1%) 282M (< 1%)
Estonia 1 (2%) - 1 (1%) -
Japan 1 (2%) - 1 (1%) -
Spain - - 1 (1%) 68M (< 1%)
Domestic 41 (67%) 37.0B (84%) 74 (73%) 125.1B (94%)
Cross-border 20 (33%) 7.1B (16%) 28 (27%) 8.5B (6%)
Total 61 $44.1B 102 $133.6B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Going Private 12 (20%) 18.2B (41%) 25 (25%) 93.0B (70%)
Secondary Buyout 14 (23%) - 22 (22%) 4.7B (4%)
Divestiture 14 (23%) 20.0B (45%) 19 (19%) 26.8B (20%)
Buyout (LBO, MBO, MBI) 7 (11%) 5.9B (13%) 13 (13%) 7.4B (6%)
Growth Capital 4 (7%) - 6 (6%) -
Stake Purchase 4 (7%) - 5 (5%) -
Special Situations/Distressed 1 (2%) - 4 (4%) 690M (1%)
Joint Venture 2 (3%) - 3 (3%) -
Recapitalization 1 (2%) - 2 (2%) -
Acquisition Financing 1 (2%) - 1 (1%) -
Consolidation - - 1 (1%) -
PIPE 1 (2%) - 1 (1%) -
Total 61 $44.1B 102 $132.6B

Exits by Deal Type

Type Total # Value
Secondary Sale 13 (29%) 7.2B (22%)
IPO 13 (29%) -
Trade Sale - Public Company 8 (18%) 15.1B (46%)
Trade Sale 5 (11%) 3.0B (9%)
Merger 3 (7%) 7.2B (22%)
Bankruptcy 2 (4%) -
Divestiture 1 (2%) 101M (< 1%)
Total 45 $32.6B

Top M&A Advisors

Financial Deals
Barclays Investment Bank
11
Credit Suisse Investment Banking
9
Citigroup Investment Banking
7
Legal Deals
Paul, Weiss, Rifkind, Wharton & Garrison LLP
31
Morgan, Lewis & Bockius LLP
6
Wachtell, Lipton, Rosen & Katz LLP
6

Deal Values

buy # Total
> $1B 28 $126.8B
$100M to $1B 11 $6.7B
< $100M 1 $68M
TOTAL $133.6B
Largest Caesars Entertainment Corp. (old)
$30.7B (2008-01-01)
sell # Total
> $1B 8 $28.9B
$100M to $1B 6 $3.6B
TOTAL $32.6B
Largest Tech Data Corporation
$7.2B (2021-03-22)

M&A Connections

Deals
Acquired from
Investor(s)
25%
25 (25%)
Strategic(s)
20%
20 (20%)
Exited to
Investor(s)
29%
13 (29%)
Strategic(s)
38%
17 (38%)

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