Centerbridge Partners Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Centerbridge Partners has acquired 8 companies. It has also invested in 1 other.

Centerbridge Partners’ most common sectors for investment are financial services (18%) and healthcare services (15%). The Firm’s most common investment types include secondary buyout (60%) and buyout (lbo, mbo, mbi) (10%). 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 8 companies. The Firm’s most common exit type is secondary buyout (37%). 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 Activity59
    • M&A Buy Activity40
    • M&A Sell Activity19
  • Total Sectors Invested 16
  • Total Countries Invested 8
  • M&A Buy/Sell Connections 22
  • M&A Advisors 23

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 ≤ '16 '17 '18 '19 '20 '21 T
Buy (2.8/yr) # 26 5 1 4 4 - 40
vol $4.7B $952M $1.4B $372M $7.5B
Sell (2.0/yr) # 9 2 2 4 2 - 19
vol $3.7B $1.7B $5.4B
  59

Most Recent M&A

Company Date Value Type
Community Psychiatry Management LLC 2020-12-15 - Secondary Buyout
Sacramento, California · www.communitypsychiatry.com
Help At Home LLC 2020-10-30 - Secondary Buyout
Chicago, Illinois · www.helpathome.com
American Bath Group 2020-10-08 - Secondary Buyout
Savannah, Tennessee · www.americanbathgroup.com
Versant Health Holdco, Inc. 2020-09-17 1.7B USD Add-on Acquisition
Linthicum, Maryland · www.versanthealth.com
Auxmoney 2020-09-03 - Buyout (LBO, MBO, MBI)
Dusseldorf, Germany · www.auxmoney.com
GoHealth, Inc. 2020-07-15 - IPO
Chicago, Illinois · www.gohealthinsurance.com
Great Wolf Resorts, Inc. 2019-10-02 - Secondary Buyout
Chicago, Illinois · www.greatwolfresorts.com
GoHealth, Inc. 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
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
American Bath Group 2020-10-08 DreamLine Shower 2020-12-21 1
Savannah, Tennessee · www.americanbathgroup.com Warminster, Pennsylvania · www.DreamLine.com
KIK Custom Products Ltd. 2015-08-27 KIK Personal Care 2020-07-01 1
Concord, Ontario · www.kikcorp.com Concord, Ontario
Syncsort, Inc. 2017-07-06 Pitney Bowes, Inc. - Software Solutions Business 2019-08-26 6
Woodcliff Lake, New Jersey · www.syncsort.com Stamford, Connecticut
KIK Custom Products Ltd. 2015-08-27 Lavo, Inc. 2017-07-06 1
Concord, Ontario · www.kikcorp.com Montreal, Quebec · www.lavo.ca
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

M&A by Sector

Sector Current # Value All-time # Value
Financial Services 2 (9%) - 7 (18%) 900M (12%)
Healthcare Services 5 (22%) 1.4B (26%) 6 (15%) 1.4B (19%)
Energy Services and Equipment 3 (13%) 1.2B (22%) 4 (10%) 1.2B (16%)
Insurance 2 (9%) 952M (17%) 3 (8%) 952M (13%)
Consumer Products 1 (4%) - 3 (8%) -
Software 3 (13%) - 3 (8%) -
Transportation 1 (4%) - 3 (8%) -
Restaurants 1 (4%) - 2 (5%) 1.1B (15%)
Packaging 1 (4%) 372M (7%) 2 (5%) 372M (5%)
Communications 1 (4%) 1.2B (22%) 1 (3%) 1.2B (16%)
Technology Hardware 1 (4%) 330M (6%) 1 (3%) 330M (4%)
Building Materials 1 (4%) - 1 (3%) -
Distribution 1 (4%) - 1 (3%) -
Leisure - - 1 (3%) -
Machinery - - 1 (3%) -
Manufacturing - - 1 (3%) -
Total 23 $5.5B 40 $7.5B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 16 (70%) 2.9B (54%) 32 (80%) 4.9B (66%)
  California 3 (13%) - 4 (10%) -
  Illinois 1 (4%) - 4 (10%) -
  Texas 1 (4%) - 3 (8%) -
  New York 1 (4%) - 3 (8%) -
  New Jersey 2 (9%) 1.2B (22%) 2 (5%) 1.2B (16%)
  Tennessee 2 (9%) - 2 (5%) -
  Arizona 1 (4%) - 2 (5%) 1.1B (15%)
  Massachusetts 1 (4%) - 2 (5%) -
  North Carolina - - 2 (5%) -
  Vermont 1 (4%) 330M (6%) 1 (3%) 330M (4%)
  Utah 1 (4%) - 1 (3%) -
  Maryland 1 (4%) - 1 (3%) -
  Florida - - 1 (3%) 900M (12%)
  Ohio - - 1 (3%) -
  Minnesota - - 1 (3%) -
  Georgia - - 1 (3%) -
Germany 2 (9%) 1.2B (22%) 2 (5%) 1.2B (16%)
Switzerland 1 (4%) 952M (17%) 1 (3%) 952M (13%)
Netherlands 1 (4%) 372M (7%) 1 (3%) 372M (5%)
Canada 1 (4%) - 1 (3%) -
  Ontario 1 (4%) - 1 (3%) -
Ireland 1 (4%) - 1 (3%) -
Israel 1 (4%) - 1 (3%) -
Italy - - 1 (3%) -
Domestic 16 (70%) 2.9B (54%) 32 (80%) 4.9B (66%)
Cross-border 7 (30%) 2.5B (46%) 8 (20%) 2.5B (34%)
Total 23 $5.5B 40 $7.5B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 12 (52%) 1.6B (29%) 24 (60%) 1.6B (21%)
Buyout (LBO, MBO, MBI) 3 (13%) - 4 (10%) 900M (12%)
Divestiture 3 (13%) 2.2B (39%) 3 (8%) 2.2B (29%)
Going Private 1 (4%) 1.4B (26%) 2 (5%) 2.5B (34%)
Special Situations/Distressed 1 (4%) 330M (6%) 2 (5%) 330M (4%)
Recapitalization 2 (9%) - 2 (5%) -
Growth Capital - - 1 (3%) -
Stake Purchase 1 (4%) - 1 (3%) -
Venture - - 1 (3%) -
Total 23 $5.5B 40 $7.5B

Exits by Deal Type

Type Total # Value
Secondary Sale 7 (37%) -
Trade Sale - Public Company 5 (26%) 5.4B (100%)
IPO 5 (26%) -
Trade Sale 2 (11%) -
Total 19 $5.4B

Top M&A Advisors

Financial Deals
Barclays Investment Bank
5
Bank of America Merrill Lynch (BofA Securities)
4
Goldman Sachs Investment Banking Division
2
Legal Deals
Kirkland & Ellis LLP
6
Simpson Thacher & Bartlett LLP
6
Weil Gotshal & Manges LLP
5

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 3 $4.5B
$100M to $1B 1 $928M
TOTAL $5.4B
Largest Carefree Communities, Inc.
$1.7B (2016-03-22)

M&A Connections

Deals
Acquired from
Investor(s)
55%
22 (55%)
Strategic(s)
10%
4 (10%)
Exited to
Investor(s)
32%
6 (32%)
Strategic(s)
37%
7 (37%)

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