Apollo Global Management Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Apollo Global Management has acquired 20 companies. It has also invested in 6 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 (25%) and secondary buyout (22%). In total, Apollo Global Management has invested in 24 US states and 12 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 Activity141
    • M&A Buy Activity96
    • M&A Sell Activity45
  • Total Sectors Invested 40
  • Total Countries Invested 12
  • M&A Buy/Sell Connections 65
  • M&A Advisors 34

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 (6.8/yr) # 62 8 6 10 3 7 96
vol $93.9B $6.5B $5.6B $9.7B $10.3B $126.1B
Sell (4.6/yr) # 22 2 6 7 2 6 45
vol $5.0B $3.3B $2.6B $676M $970M $20.1B $32.6B
  141

Most Recent M&A

Company Date Value Type
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
Verizon Media 2021-05-03 5.0B USD Divestiture
New York, New York · www.verizonmedia.com
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
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
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
Gamenet SpA 2019-10-23 Lottomatica Holding Srl 2020-12-07 1
Rome, 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
Catalina Holdings (Bermuda), Limited 2013-12-20 Asia Capital Reinsurance Group Pte. Ltd. 2019-12-05 8
Hamilton, Bermuda · www.catalinare.com Singapore, Singapore · www.asiacapitalre.com

M&A by Sector

Sector Current # Value All-time # Value
Financial Services 5 (9%) 282M (1%) 7 (7%) 349M (< 1%)
Retail 2 (4%) 6.4B (17%) 6 (6%) 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 (5%) - 4 (4%) 1.4B (1%)
Energy Services and Equipment 3 (5%) - 4 (4%) -
Gaming 1 (2%) - 3 (3%) 30.7B (24%)
Safety/Security 2 (4%) - 3 (3%) 15.0B (12%)
Consumer Services 2 (4%) 1.6B (4%) 3 (3%) 10.1B (8%)
Internet Software and Services 3 (5%) 7.8B (21%) 3 (3%) 7.8B (6%)
Healthcare Services 3 (5%) 5.6B (15%) 3 (3%) 5.6B (4%)
Media 2 (4%) 5.0B (14%) 3 (3%) 5.0B (4%)
Leisure 1 (2%) 1.1B (3%) 3 (3%) 4.0B (3%)
Education 1 (2%) - 3 (3%) 2.5B (2%)
Metals/Mining 1 (2%) - 3 (3%) 690M (1%)
Information Technology - - 2 (2%) 4.3B (3%)
Manufacturing 2 (4%) 4.3B (12%) 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 (4%) - 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 (5%) 1 (1%) 2.0B (2%)
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%) -
Communications 1 (2%) - 1 (1%) -
Electrical Equipment - - 1 (1%) -
Food - - 1 (1%) -
Life Science 1 (2%) - 1 (1%) -
Marketing 1 (2%) - 1 (1%) -
Staffing 1 (2%) - 1 (1%) -
Total 56 $36.6B 96 $126.1B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 38 (68%) 29.5B (81%) 70 (73%) 117.6B (93%)
  Texas 5 (9%) 6.1B (17%) 9 (9%) 11.3B (9%)
  California 4 (7%) 3.0B (8%) 9 (9%) 8.5B (7%)
  Pennsylvania 4 (7%) - 6 (6%) 2.1B (2%)
  New York 2 (4%) 5.0B (14%) 5 (5%) 7.5B (6%)
  Ohio 3 (5%) 1.0B (3%) 4 (4%) 1.7B (1%)
  North Carolina 3 (5%) 1.4B (4%) 4 (4%) 1.4B (1%)
  Connecticut 3 (5%) 400M (1%) 4 (4%) 400M (< 1%)
  Tennessee 3 (5%) 5.6B (15%) 3 (3%) 5.6B (4%)
  Colorado 1 (2%) 305M (1%) 3 (3%) 305M (< 1%)
  Florida - - 3 (3%) 23.5B (19%)
  Washington 2 (4%) 1.6B (4%) 2 (2%) 1.6B (1%)
  Georgia 2 (4%) - 2 (2%) -
  Indiana 1 (2%) - 2 (2%) 2.3B (2%)
  Maryland 1 (2%) - 2 (2%) -
  Nevada - - 2 (2%) 32.9B (26%)
  Illinois - - 2 (2%) 4.9B (4%)
  Nebraska 1 (2%) 5.1B (14%) 1 (1%) 5.1B (4%)
  Virginia 1 (2%) - 1 (1%) -
  Kansas 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 (5%) - 7 (7%) 1.4B (1%)
Netherlands 2 (4%) 2.0B (5%) 4 (4%) 2.0B (2%)
Italy 3 (5%) - 3 (3%) -
France 2 (4%) 3.9B (11%) 2 (2%) 3.9B (3%)
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%) -
Spain - - 1 (1%) 68M (< 1%)
Domestic 38 (68%) 29.5B (81%) 70 (73%) 117.6B (93%)
Cross-border 18 (32%) 7.1B (19%) 26 (27%) 8.5B (7%)
Total 56 $36.6B 96 $126.1B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Going Private 11 (20%) 18.2B (50%) 24 (25%) 93.0B (74%)
Secondary Buyout 13 (23%) - 21 (22%) 4.7B (4%)
Divestiture 12 (21%) 12.5B (34%) 17 (18%) 19.3B (15%)
Buyout (LBO, MBO, MBI) 6 (11%) 5.9B (16%) 12 (13%) 7.4B (6%)
Growth Capital 3 (5%) - 5 (5%) -
Stake Purchase 4 (7%) - 5 (5%) -
Special Situations/Distressed 2 (4%) - 4 (4%) 690M (1%)
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 56 $36.6B 96 $125.1B

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
10
Credit Suisse Investment Banking
8
Citigroup Investment Banking
7
Legal Deals
Paul, Weiss, Rifkind, Wharton & Garrison LLP
28
Wachtell, Lipton, Rosen & Katz LLP
6
Morgan, Lewis & Bockius LLP
5

Deal Values

buy # Total
> $1B 27 $119.3B
$100M to $1B 11 $6.7B
< $100M 1 $68M
TOTAL $126.1B
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%
24 (25%)
Strategic(s)
19%
18 (19%)
Exited to
Investor(s)
29%
13 (29%)
Strategic(s)
38%
17 (38%)

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