Blue Heron Capital Mergers and Acquisitions Summary

Private Equity Firm Profile

Blue Heron Capital’s most common sectors for investment areinformation technology (50%) and internet software and services (13%) . The Firm’s most common investment types include growth capital (50%) and venture (50%). In total, Blue Heron Capital has invested in 5 US states.

In the last 3 years, Blue Heron Capital has exited 2 companies. The Firm’s most common exit type is trade sale (67%).

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M&A Summary

  • M&A Total Activity11
    • M&A Buy Activity8
    • M&A Sell Activity3
  • Total Sectors Invested 5
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 8

Blue Heron Capital

1519 Summit Avenue, Suite 200,
Richmond, Virginia 23235
United States
(804) 212-3400
www.blueheroncap.com
info@blueheroncap.com

Blue Heron Capital is a private equity firm focused on growth equity and lower middle-market buyout opportunities. Blue Heron looks to invest $3 to $7 million in businesses with $5 to $25 million in sales. Preferred sectors include tech-enabled business service companies and healthcare. Blue Heron will invest across the US, but prefers opportunities along the East Coast. Blue Heron Capital was established in 2006 and is based in Richmond, Virginia.


Investment Criteria

Sectors of Interest: Business Services, Education, Healthcare Services, Information Technology, Media, Safety/Security, Software

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue 5 25
Target EBITDA - -
Investment Size 3 7
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '18 '19 '20 '21 '22 '23 T
Buy (0.0/yr) # 8 - - - - - 8
Sell (0.4/yr) # 1 - 1 - - 1 3
  11

Most Recent M&A

Company Date Value Type
STARC Systems, Inc. 2023-09-12 - Secondary Sale
Brunswick, Maine · www.starcsystems.com
WiserTogether, Inc. 2020-01-16 - Trade Sale
Boston, Massachusetts · www.wisertogether.com
Tricast, Inc. 2018-07-18 - Trade Sale
Milwaukee, Wisconsin
Verisma Systems, Inc. 2015-10-15 - Growth Capital
Alexandria, Virginia · www.verisma.com
Tricast, Inc. 2015-09-14 - Growth Capital
Milwaukee, Wisconsin
Apogee IT Services, Inc. 2014-04-21 - Growth Capital
Sewickley, Pennsylvania · www.apogeeitservices.com
PresenceLearning, Inc. 2013-04-25 - Venture
New York, New York · www.presence.com
WiserTogether, Inc. 2013-01-03 - Growth Capital
Boston, Massachusetts · www.wisertogether.com
innRoad, Inc. 2012-06-01 - Venture
New York, New York · www.innroad.com
CSA Medical, Inc. 2011-07-12 - Venture
Lexington, Massachusetts · www.csamedical.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Information Technology 2 (67%) - 4 (50%) -
Internet Software and Services 1 (33%) - 1 (13%) -
Medical Products - - 1 (13%) -
Safety/Security - - 1 (13%) -
Software - - 1 (13%) -
Total 3 - 8 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 3 (100%) - 8 (100%) -
  Pennsylvania 1 (33%) - 2 (25%) -
  New York 1 (33%) - 2 (25%) -
  Massachusetts - - 2 (25%) -
  Virginia 1 (33%) - 1 (13%) -
  Wisconsin - - 1 (13%) -
Total 3 - 8 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 2 (67%) - 4 (50%) -
Venture 1 (33%) - 4 (50%) -
Total 3 - 8 -

Exits by Deal Type

Type Total # Value
Secondary Sale 1 (33%) -
Trade Sale 1 (33%) -
Trade Sale - Public Company 1 (33%) -
Total 3 -

M&A Connections

Deals
Exited to
Investor(s)
33%
1 (33%)
Strategic(s)
67%
2 (67%)

Investor Summary

Investor Type

Private Equity Firm

Size

Small

Established

2006

Specialist/Generalist

Generalist

Leadership

Andrew Tichenor

Co-Founder & Managing Partner

Tom Benedetti

Co-Founder & Managing Partner

Gordon Crenshaw

Principal

Christine Lane

Controller

FAQ

When was Blue Heron Capital founded?

Blue Heron Capital was founded in 2006.

What type of investor is Blue Heron Capital?

Blue Heron Capital is a private equity firm.

Where is Blue Heron Capital headquartered?

Blue Heron Capital is headquartered in Richmond, Virginia.

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