Centerbridge Partners Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Centerbridge Partners has acquired 3 companies. It has also invested in 1 other.

Centerbridge Partners’ most common sectors for investment are financial services (17%) and energy services and equipment (12%). The Firm’s most common investment types include secondary buyout (59%) and buyout (lbo, mbo, mbi) (9%). In total, Centerbridge Partners has invested in 17 US states and 8 different countries. Its largest (disclosed) acquisition occurred in 2018 when it acquired Civitas Solutions for $1.4B.

In the last 3 years, Centerbridge Partners has exited 7 companies. The Firm’s most common exit type is secondary buyout (44%). Centerbridge Partners’ largest (disclosed) exit occurred in 2016 when it sold Carefree Communities for $1.7B.

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M&A Summary

  • M&A Total Activity52
    • M&A Buy Activity36
    • M&A Sell Activity16
  • Total Sectors Invested 15
  • Total Countries Invested 8
  • M&A Buy/Sell Connections 21
  • M&A Advisors 22

Centerbridge Partners

375 Park Avenue, 12th Floor,
New York, New York 10152
United States,
(212)672-5000
www.centerbridge.com
info@centerbridge.com

Centerbridge Partners is a mega-sized private equity firm focused primarily on distressed/special situations. In addition to making control investments, Centerbridge also maintains a fund for non-control credit investments. Centerbridge was formed in 2005 and is based in New York City.


Investment Criteria

Sectors of Interest: Business Services, Communications, Consumer Products, Consumer Services, Distribution, Energy Services and Equipment, Financial Services, Healthcare Services, Information Technology, Insurance, Leisure, Machinery, Manufacturing, Media, Packaging, Real Estate, Restaurants, Retail, Software, Technology Hardware, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Going Private, Growth Capital, Recapitalization, Special Situations/Distressed, PIPE, Secondary Buyout

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

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 (2.4/yr) # 24 2 5 1 4 - 36
vol $4.7B $952M $1.4B $372M $7.5B
Sell (1.8/yr) # 7 2 1 2 4 - 16
vol $2.0B $1.7B $3.7B
  52

Most Recent M&A

Company Date Value Type
Great Wolf Resorts, Inc. 2019-10-02 - Secondary Buyout
Chicago, Illinois · www.greatwolfresorts.com
GoHealth 2019-09-17 - Secondary Buyout
Chicago, Illinois · www.gohealthinsurance.com
SOLIDUS SOLUTIONS Holding B.V. 2019-06-28 372M EUR Secondary Buyout
Oude Pekela, Netherlands · www.solidus-solutions.com
Cardinal Logistics Management Corp. 2019-06-10 - Secondary Buyout
Concord, North Carolina · www.cardlog.com
Reddy Ice Holdings, Inc. 2019-05-30 - Add-on Acquisition
Dallas, Texas · www.reddyice.com
International Business Machines Corp. - Marketing Platform & Commerce Software 2019-04-04 - Divestiture
Armonk, New York
P.F. Chang’s China Bistro, Inc. 2019-03-01 - Secondary Buyout
Scottsdale, Arizona · www.pfcb.com
The Phoenix Insurance Co. Ltd. 2019-02-27 - Stake Purchase
Givatayim, Israel
Civitas Solutions, Inc. 2018-12-18 1.4B USD Going Private
Boston, United States · www.civitas-solutions.com
Industrial Container Services LLC 2018-06-14 - Secondary Buyout
Montebello, California · www.iconserv.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Syncsort, Inc. 2017-07-06 Pitney Bowes, Inc. - Software Solutions Business 2019-08-26 6
Woodcliff Lake, New Jersey · www.syncsort.com Stamford, Connecticut
Syncsort, Inc. 2017-07-06 SQData Corp. 2019-08-21 5
Woodcliff Lake, New Jersey · www.syncsort.com Addison, Texas · www.sqdata.com
Syncsort, Inc. 2017-07-06 EView Technology 2018-11-27 4
Woodcliff Lake, New Jersey · www.syncsort.com Raleigh, North Carolina · www.eview-tech.com
Syncsort, Inc. 2017-07-06 Trader’s SAS 2018-01-09 3
Woodcliff Lake, New Jersey · www.syncsort.com Paris, France
Syncsort, Inc. 2017-07-06 Cilasoft 2017-12-12 2
Woodcliff Lake, New Jersey · www.syncsort.com Metz-Tessy, France · www.cilasoft.com
Syncsort, Inc. 2017-07-06 Metron Technology Ltd. 2017-08-29 1
Woodcliff Lake, New Jersey · www.syncsort.com Boulder, Colorado · www.metrontechnology.com
KIK Custom Products Ltd. 2015-08-27 Lavo, Inc. 2017-07-06 1
Concord, Ontario · www.kikcorp.com Montreal, Quebec · www.lavo.ca
Remedi SeniorCare, Inc. 2011-08-31 Frontier Pharmacy LLC 2017-02-06 2
Baltimore, Maryland · www.remedirx.com Westminster, Colorado
IPC Systems, Inc. 2015-02-09 Etrali Trading Solutions Co. 2016-02-03 1
Jersey City, New Jersey · www.ipc.com Paris, France · www.etrali.com
Remedi SeniorCare, Inc. 2011-08-31 Cornerstone Pharmacy LLC 2012-09-13 1
Baltimore, Maryland · www.remedirx.com Eastlake, Ohio

M&A by Sector

Sector Current # Value All-time # Value
Financial Services 2 (10%) - 6 (17%) 900M (12%)
Healthcare Services 3 (14%) 1.4B (26%) 4 (11%) 1.4B (19%)
Energy Services and Equipment 3 (14%) 1.2B (22%) 4 (11%) 1.2B (16%)
Insurance 3 (14%) 952M (17%) 3 (8%) 952M (13%)
Consumer Products 1 (5%) - 3 (8%) -
Software 3 (14%) - 3 (8%) -
Transportation 1 (5%) - 3 (8%) -
Restaurants 1 (5%) - 2 (6%) 1.1B (15%)
Packaging 1 (5%) 372M (7%) 2 (6%) 372M (5%)
Communications 1 (5%) 1.2B (22%) 1 (3%) 1.2B (16%)
Technology Hardware 1 (5%) 330M (6%) 1 (3%) 330M (4%)
Distribution 1 (5%) - 1 (3%) -
Leisure - - 1 (3%) -
Machinery - - 1 (3%) -
Manufacturing - - 1 (3%) -
Total 21 $5.5B 36 $7.5B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 14 (67%) 2.9B (54%) 29 (81%) 4.9B (66%)
  California 2 (10%) - 3 (8%) -
  Texas 1 (5%) - 3 (8%) -
  New York 1 (5%) - 3 (8%) -
  Illinois 1 (5%) - 3 (8%) -
  New Jersey 2 (10%) 1.2B (22%) 2 (6%) 1.2B (16%)
  Arizona 1 (5%) - 2 (6%) 1.1B (15%)
  Massachusetts 1 (5%) - 2 (6%) -
  North Carolina - - 2 (6%) -
  Vermont 1 (5%) 330M (6%) 1 (3%) 330M (4%)
  Utah 1 (5%) - 1 (3%) -
  Tennessee 1 (5%) - 1 (3%) -
  Maryland 1 (5%) - 1 (3%) -
  Florida - - 1 (3%) 900M (12%)
  Ohio - - 1 (3%) -
  Minnesota - - 1 (3%) -
  Georgia - - 1 (3%) -
Germany 1 (5%) 1.2B (22%) 1 (3%) 1.2B (16%)
Switzerland 1 (5%) 952M (17%) 1 (3%) 952M (13%)
Netherlands 1 (5%) 372M (7%) 1 (3%) 372M (5%)
Canada 1 (5%) - 1 (3%) -
  Ontario 1 (5%) - 1 (3%) -
Italy 1 (5%) - 1 (3%) -
Ireland 1 (5%) - 1 (3%) -
Israel 1 (5%) - 1 (3%) -
Domestic 14 (67%) 2.9B (54%) 29 (81%) 4.9B (66%)
Cross-border 7 (33%) 2.5B (46%) 7 (19%) 2.5B (34%)
Total 21 $5.5B 36 $7.5B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 11 (52%) 1.6B (29%) 21 (58%) 1.6B (21%)
Divestiture 3 (14%) 2.2B (39%) 3 (8%) 2.2B (29%)
Buyout (LBO, MBO, MBI) 2 (10%) - 3 (8%) 900M (12%)
Going Private 1 (5%) 1.4B (26%) 2 (6%) 2.5B (34%)
Special Situations/Distressed 1 (5%) 330M (6%) 2 (6%) 330M (4%)
Recapitalization 2 (10%) - 2 (6%) -
Growth Capital - - 1 (3%) -
Stake Purchase 1 (5%) - 1 (3%) -
Venture - - 1 (3%) -
Total 21 $5.5B 36 $7.5B

Exits by Deal Type

Type Total # Value
Secondary Sale 7 (44%) -
Trade Sale - Public Company 4 (25%) 3.7B (100%)
IPO 3 (19%) -
Trade Sale 2 (13%) -
Total 16 $3.7B

Top M&A Advisors

Financial Deals
Bank of America Merrill Lynch
4
Barclays Investment Bank
4
Credit Suisse Investment Banking
2
Legal Deals
Simpson Thacher & Bartlett LLP
6
Weil Gotshal & Manges LLP
5
Kirkland & Ellis LLP
4

Deal Values

buy # Total
> $1B 4 $4.9B
$100M to $1B 4 $2.6B
TOTAL $7.5B
Largest Civitas Solutions, Inc.
$1.4B (2018-12-18)
sell # Total
> $1B 2 $2.8B
$100M to $1B 1 $928M
TOTAL $3.7B
Largest Carefree Communities, Inc.
$1.7B (2016-03-22)

M&A Connections

Deals %
Acquired from
PE Firm(s)
87%
26 87%
Strategic(s)
13%
4 13%
Exited to
PE Firm(s)
54%
7 54%
Strategic(s)
46%
6 46%

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