Apollo Global Management Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Apollo Global Management has acquired 13 companies. It has also invested in 4 others.

Apollo Global Management’s most common sectors for investment are financial services (9%) and retail (6%). The Firm’s most common investment types include going private (25%) and secondary buyout (23%). 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 13 companies. The Firm’s most common exit type is secondary buyout (33%). Apollo Global Management’s largest (disclosed) exit occurred in 2017 when it sold CH2M for $3.3B.

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M&A Summary

  • M&A Total Activity120
    • M&A Buy Activity86
    • M&A Sell Activity34
  • Total Sectors Invested 36
  • Total Countries Invested 13
  • M&A Buy/Sell Connections 54
  • M&A Advisors 29

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 ≤ '15 '16 '17 '18 '19 '20 T
Buy (7.0/yr) # 51 11 8 6 10 - 86
vol $67.5B $26.5B $6.5B $5.6B $9.7B $115.8B
Sell (3.0/yr) # 19 2 2 6 5 - 34
vol $5.0B $3.3B $2.6B $10.8B
  120

Most Recent M&A

Company Date Value Type
Cox Media Group, Inc. 2019-12-17 - Divestiture
Atlanta, Georgia · www.coxmediagroup.com
Tech Data Corp. 2019-11-13 5.4B USD Going Private
Clearwater, Florida · www.techdata.com
Endemol Shine Group 2019-10-26 - Add-on Acquisition
Amsterdam, Netherlands · www.endemolshinegroup.com
Gamenet SpA 2019-10-23 - Secondary Buyout
Roma, Italy · www.gamenet.it
Pegasus Optimization Managers LLC 2019-09-25 - Add-on Acquisition
College Station, Texas · www.pegasus15.com
CSV Midstream Solutions 2019-06-28 - Secondary Buyout
Calgary, Alberta · www.csvmidstream.com
Graanul Invest AS 2019-06-18 - Acquisition Financing
Tallinn, Estonia · www.graanulinvest.com
Shutterfly, Inc. 2019-06-10 2.7B USD Going Private
Redwood City, California · www.shutterfly.com
Care Fertility Group Ltd. 2019-04-25 - Secondary Buyout
Nottingham, United Kingdom · www.carefertility.com
Casino Guichard-Perrachon SA - 32 Store Properties 2019-04-22 530M EUR Divestiture
Saint-Étienne, France
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Intrado Corp. 2017-05-09 Accent 2019-12-23 1
Omaha, Nebraska · www.intrado.com Omaha, Nebraska · www.onlineaccent.com
Tech Data Corp. 2019-11-13 Inflow Technologies Pvt. Ltd. 2019-12-16 1
Clearwater, Florida · www.techdata.com Bangalore, India · www.inflowtechnologies.com
Rackspace Hosting, Inc. 2016-08-26 Onica Group LLC 2019-11-04 4
San Antonio, Texas · www.rackspace.com Santa Monica, California · www.onica.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
Graanul Invest AS 2019-06-18 Texas Pellet, Inc. 2019-06-18 1
Tallinn, Estonia · www.graanulinvest.com Woodville, Texas
Maxim Crane Works LP 2016-05-02 Shaughnessy & Ahern Crane Co. & S&A Cranes LLC 2019-05-03 4
Bridgeville, Pennsylvania · www.maximcrane.com Boston, Massachusetts · www.shaughnessyandahernco.com
McGraw-Hill Education, Inc. 2013-03-22 Cengage Learning, Inc. 2019-05-01 8
New York, New York · www.mheducation.com Independence, Kentucky · www.cengage.com
Maxim Crane Works LP 2016-05-02 B&G Crane Service LLC 2019-03-01 3
Bridgeville, Pennsylvania · www.maximcrane.com Jefferson, Louisiana · www.bgcrane.com
Outerwall, Inc. 2016-07-25 Eurocycleur 2018-12-06 1
Bellevue, Washington · www.outerwall.com , France · www.eurocycleur.org

M&A by Sector

Sector Current # Value All-time # Value
Financial Services 5 (9%) 282M (1%) 7 (8%) 349M (< 1%)
Retail 2 (4%) 2.5B (6%) 5 (6%) 7.1B (6%)
Business Services 5 (9%) 400M (1%) 5 (6%) 400M (< 1%)
Chemicals 2 (4%) 1.0B (2%) 4 (5%) 6.6B (6%)
Consumer Products 1 (2%) - 4 (5%) 2.6B (2%)
Insurance 3 (6%) - 4 (5%) 1.4B (1%)
Gaming 1 (2%) - 3 (3%) 30.7B (27%)
Safety/Security 2 (4%) - 3 (3%) 15.0B (13%)
Consumer Services 2 (4%) 1.6B (4%) 3 (3%) 10.1B (9%)
Healthcare Services 3 (6%) 5.6B (13%) 3 (3%) 5.6B (5%)
Leisure 2 (4%) 3.3B (8%) 3 (3%) 4.0B (3%)
Media 2 (4%) 2.5B (6%) 3 (3%) 2.5B (2%)
Metals/Mining 1 (2%) - 3 (3%) 690M (1%)
Energy Services and Equipment 2 (4%) - 3 (3%) -
Internet Software and Services 2 (4%) 7.8B (19%) 2 (2%) 7.8B (7%)
Information Technology 1 (2%) 4.3B (10%) 2 (2%) 4.3B (4%)
Manufacturing 2 (4%) 4.3B (10%) 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%) -
Machinery - - 2 (2%) -
Oil/Gas Exploration 1 (2%) - 2 (2%) -
Transportation 2 (4%) - 2 (2%) -
Distribution 1 (2%) 5.4B (13%) 1 (1%) 5.4B (5%)
Semiconductors 1 (2%) 2.0B (5%) 1 (1%) 2.0B (2%)
Franchising - - 1 (1%) 1.0B (1%)
Real Estate 1 (2%) 530M (1%) 1 (1%) 530M (< 1%)
Airlines 1 (2%) - 1 (1%) -
Communications 1 (2%) - 1 (1%) -
Electrical Equipment - - 1 (1%) -
Food - - 1 (1%) -
Forest Products 1 (2%) - 1 (1%) -
Infrastructure 1 (2%) - 1 (1%) -
Marketing 1 (2%) - 1 (1%) -
Total 53 $41.8B 86 $115.8B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 36 (68%) 34.7B (83%) 62 (72%) 107.2B (93%)
  California 4 (8%) 3.8B (9%) 8 (9%) 8.2B (7%)
  Texas 3 (6%) 5.4B (13%) 6 (7%) 6.3B (5%)
  New York 3 (6%) 2.5B (6%) 5 (6%) 2.5B (2%)
  Pennsylvania 3 (6%) - 5 (6%) 2.1B (2%)
  Ohio 3 (6%) 1.0B (2%) 4 (5%) 1.7B (1%)
  Connecticut 3 (6%) 400M (1%) 4 (5%) 400M (< 1%)
  Tennessee 3 (6%) 5.6B (13%) 3 (3%) 5.6B (5%)
  North Carolina 2 (4%) 1.4B (3%) 3 (3%) 1.4B (1%)
  Florida 1 (2%) 5.4B (13%) 3 (3%) 23.5B (20%)
  Colorado 1 (2%) 305M (1%) 3 (3%) 305M (< 1%)
  Nevada 1 (2%) 2.2B (5%) 2 (2%) 32.9B (28%)
  Indiana 1 (2%) - 2 (2%) 2.3B (2%)
  Maryland 1 (2%) - 2 (2%) -
  Illinois - - 2 (2%) 4.9B (4%)
  Nebraska 1 (2%) 5.1B (12%) 1 (1%) 5.1B (4%)
  Washington 1 (2%) 1.6B (4%) 1 (1%) 1.6B (1%)
  Minnesota 1 (2%) - 1 (1%) -
  Kansas 1 (2%) - 1 (1%) -
  Georgia 1 (2%) - 1 (1%) -
  Arizona 1 (2%) - 1 (1%) -
  Virginia 1 (2%) - 1 (1%) -
  New Jersey - - 1 (1%) 8.5B (7%)
  Montana - - 1 (1%) -
  Michigan - - 1 (1%) -
United Kingdom 4 (8%) - 7 (8%) 1.4B (1%)
Netherlands 1 (2%) 2.0B (5%) 3 (3%) 2.0B (2%)
France 2 (4%) 3.9B (9%) 2 (2%) 3.9B (3%)
Italy 2 (4%) - 2 (2%) -
Australia 2 (4%) - 2 (2%) -
Bermuda 2 (4%) - 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%) -
Luxembourg 1 (2%) - 1 (1%) -
Spain - - 1 (1%) 68M (< 1%)
Canada - - 1 (1%) -
  Alberta - - 1 (1%) -
Domestic 36 (68%) 34.7B (83%) 62 (72%) 107.2B (93%)
Cross-border 17 (32%) 7.1B (17%) 24 (28%) 8.5B (7%)
Total 53 $41.8B 86 $115.8B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Going Private 11 (21%) 24.8B (59%) 21 (24%) 87.6B (76%)
Secondary Buyout 13 (25%) 1.1B (3%) 19 (22%) 4.7B (4%)
Divestiture 10 (19%) 10.0B (24%) 14 (16%) 14.3B (12%)
Buyout (LBO, MBO, MBI) 7 (13%) 5.9B (14%) 12 (14%) 7.4B (6%)
Growth Capital 3 (6%) - 5 (6%) -
Special Situations/Distressed 2 (4%) - 4 (5%) 690M (1%)
Joint Venture 2 (4%) - 3 (3%) -
Stake Purchase 2 (4%) - 3 (3%) -
Recapitalization 1 (2%) - 2 (2%) -
Acquisition Financing 1 (2%) - 1 (1%) -
Consolidation - - 1 (1%) -
PIPE 1 (2%) - 1 (1%) -
Total 53 $41.8B 86 $114.8B

Exits by Deal Type

Type Total # Value
Secondary Sale 12 (35%) 2.7B (25%)
IPO 10 (29%) -
Trade Sale 5 (15%) 3.0B (28%)
Trade Sale - Public Company 3 (9%) 5.1B (48%)
Bankruptcy 2 (6%) -
Merger 2 (6%) -
Total 34 $10.8B

Top M&A Advisors

Financial Deals
Barclays Investment Bank
9
Citigroup Investment Banking
7
Credit Suisse Investment Banking
7
Legal Deals
Paul, Weiss, Rifkind, Wharton & Garrison LLP
20
Wachtell, Lipton, Rosen & Katz LLP
6
Morgan, Lewis & Bockius LLP
5

Deal Values

buy # Total
> $1B 25 $109.3B
$100M to $1B 10 $6.4B
< $100M 1 $68M
TOTAL $115.8B
Largest Caesars Entertainment Corp.
$30.7B (2008-01-01)
sell # Total
> $1B 4 $9.4B
$100M to $1B 2 $1.4B
TOTAL $10.8B
Largest CH2M, Inc.
$3.3B (2017-08-02)

M&A Connections

Deals %
Acquired from
PE Firm(s)
69%
31 69%
Strategic(s)
31%
14 31%
Exited to
PE Firm(s)
57%
13 57%
Strategic(s)
43%
10 43%

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