Cerberus Capital Management Mergers and Acquisitions Summary

Asset Manager Profile

In the last 3 years, Cerberus Capital Management has acquired 7 companies. It has also invested in 2 others.

Cerberus Capital Management’s most common sectors for investment arefinancial services (11%) and retail (9%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (30%) and secondary buyout (17%). In total, Cerberus Capital Management has invested in 24 US states and 13 different countries. Its largest (disclosed) acquisition occurred in 2006 when it acquired Albertsons Companies for $17.4B.

In the last 3 years, Cerberus Capital Management has exited 4 companies. The Firm’s most common exit type is trade sale (48%). Cerberus Capital Management’s largest (disclosed) exit occurred in 2010 when it sold TD Auto Finance for $6.3B.

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M&A Summary

  • M&A Total Activity137
    • M&A Buy Activity84
    • M&A Sell Activity53
  • Total Sectors Invested 37
  • Total Countries Invested 13
  • M&A Buy/Sell Connections 51
  • M&A Advisors 29

Cerberus Capital Management

875 Third Avenue ,
New York, New York 10022
United States
(212) 891-2100
www.cerberuscapital.com

Cerberus Capital Management is a private investment firm that targets a wide range of global investments. Cerberus primarily looks for undervalued or distressed situations. Industry sectors of interest include aerospace and defense, apparel, automotive and industrial, building products, commercial services, consumer and retail, financial services, healthcare, manufacturing and distribution, paper, packaging, and printing, real estate, technology, telecommunications, transportation, and travel. In addition to private equity investing, Cerberus also provides corporate credit and acquires real estate. Cerberus was formed in 1992 by Steve Feinberg and is based in New York City.


Investment Criteria

Sectors of Interest: Aerospace, Apparel/Textiles, Automotive, Building Materials, Business Services, Communications, Consumer Products, Consumer Services, Defense, Distribution, Electrical Equipment, Financial Services, Forest Products, Healthcare Services, Information Technology, Insurance, Leisure, Life Science, Machinery, Manufacturing, Media, Medical Products, Packaging, Real Estate, Restaurants, Retail, Software, Technology Hardware, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Going Private, Recapitalization, Special Situations/Distressed, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US, Canada, Western Europe, Eastern Europe, Nordic, Asia/Pacific, Middle East

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value - -

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (2.6/yr) # 71 4 7 1 1 - 84
vol $31.5B $295M $1.1B $32.9B
Sell (1.8/yr) # 44 5 3 - 1 - 53
vol $11.6B $380M $1.5B $13.5B
  137

Most Recent M&A

Company Date Value Type
Spring EQ 2023-08-31 - Buyout (LBO, MBO, MBI)
Conshohocken, Pennsylvania · www.springeq.com
Worldwide Flight Services, Inc. 2023-04-03 1.5B EUR Trade Sale
Roissy, France · www.wfs.aero
Torngat Metals Ltd. 2022-11-09 - Growth Capital
Montréal, Quebec · www.torngatmetals.com
Helix Sleep, Inc. 2021-09-13 - Buyout (LBO, MBO, MBI)
New York, New York · www.helixsleep.com
Brooklyn Bedding 2021-09-13 - Buyout (LBO, MBO, MBI)
Phoenix, Arizona · www.brooklynbedding.com
Staples Solutions B.V. 2021-08-04 - Divestiture
Amsterdam, Netherlands · www.staples.eu
Source Code Corp. 2021-08-02 - Secondary Buyout
Milford, Massachusetts · www.sourcecode.com
Lighthouse Autism Centers LLC 2021-07-26 - Stake Purchase
Mishawaka, Indiana · www.lighthouseautismcenter.com
Red River Technology LLC 2021-06-01 - Secondary Buyout
Claremont, New Hampshire · www.redriver.com
PQ Corp. 2021-03-01 1.1B USD Divestiture
Malvern, Pennsylvania · www.pqcorp.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Source Code Corp. 2021-08-02 Boston Ltd. 2023-06-26 1
Milford, Massachusetts · www.sourcecode.com Hertfordshire, United Kingdom · www.boston.co.uk
School Specialty LLC 2020-09-15 EPS School Specialty 2023-03-02 1
Greenville, Wisconsin · www.schoolspecialty.com Nashua, New Hampshire · eps.schoolspecialty.com
School Specialty LLC 2020-09-15 SchoolKidz, Inc. 2022-11-02 2
Greenville, Wisconsin · www.schoolspecialty.com Woodridge, Illinois · www.schoolkidz.com
National Dentex Corp. 2020-10-27 Sentage Corp. 2021-04-01 6
Natick, Massachusetts · www.nationaldentex.com St. Petersburg, Florida · www.dentalservices.net
Kellermeyer Bergensons Services LLC 2019-10-22 Hospitality Staffing Solutions LLC 2020-01-13 7
Maumee, Ohio · www.kbs-clean.com Atlanta, Georgia · www.hssstaffing.com

M&A by Sector

Sector Current # Value All-time # Value
Financial Services 5 (15%) - 9 (11%) 620M (2%)
Retail 2 (6%) 250M (15%) 7 (8%) 19.3B (59%)
Business Services 2 (6%) - 6 (7%) 1.8B (5%)
Automotive - - 5 (6%) 7.4B (23%)
Real Estate 2 (6%) - 5 (6%) 1.0B (3%)
Leisure 3 (9%) 45M (3%) 5 (6%) 447M (1%)
Information Technology 4 (12%) - 4 (5%) -
Apparel/Textiles 1 (3%) - 3 (4%) -
Consumer Products 2 (6%) - 3 (4%) -
Life Science - - 3 (4%) -
Chemicals 2 (6%) 1.1B (64%) 2 (2%) 1.1B (3%)
Defense 1 (3%) - 2 (2%) 370M (1%)
Energy Services and Equipment - - 2 (2%) -
Healthcare Services 1 (3%) - 2 (2%) -
Manufacturing - - 2 (2%) -
Media - - 2 (2%) -
Software - - 2 (2%) -
Transportation - - 1 (1%) 500M (2%)
Communications 1 (3%) 325M (19%) 1 (1%) 325M (1%)
Aerospace - - 1 (1%) -
Airlines - - 1 (1%) -
Consumer Services 1 (3%) - 1 (1%) -
Distribution - - 1 (1%) -
E-Commerce 1 (3%) - 1 (1%) -
Electrical Equipment 1 (3%) - 1 (1%) -
Electronics 1 (3%) - 1 (1%) -
Environmental - - 1 (1%) -
Forest Products - - 1 (1%) -
Gaming - - 1 (1%) -
Insurance - - 1 (1%) -
Metals/Mining 1 (3%) - 1 (1%) -
Packaging 1 (3%) - 1 (1%) -
Publishing - - 1 (1%) -
Renewable Energy - - 1 (1%) -
Restaurants - - 1 (1%) -
Staffing - - 1 (1%) -
Technology Hardware 1 (3%) - 1 (1%) -
Total 33 $1.7B 84 $32.9B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 27 (82%) 1.7B (100%) 60 (71%) 32.3B (98%)
  Florida 3 (9%) - 6 (7%) 1.0B (3%)
  California 2 (6%) 45M (3%) 5 (6%) 1.7B (5%)
  Michigan 1 (3%) - 5 (6%) 7.4B (23%)
  Georgia 1 (3%) - 5 (6%) -
  Pennsylvania 3 (9%) 1.1B (64%) 4 (5%) 1.1B (3%)
  New York 1 (3%) - 4 (5%) 500M (2%)
  North Carolina 1 (3%) - 4 (5%) 370M (1%)
  Minnesota 2 (6%) 250M (15%) 3 (4%) 870M (3%)
  Virginia - - 3 (4%) 1.5B (5%)
  Texas - - 3 (4%) 94M (< 1%)
  Arizona 2 (6%) - 2 (2%) -
  Massachusetts 2 (6%) - 2 (2%) -
  Indiana 2 (6%) - 2 (2%) -
  Ohio 1 (3%) - 2 (2%) -
  New Jersey 1 (3%) 325M (19%) 1 (1%) 325M (1%)
  Wisconsin 1 (3%) - 1 (1%) -
  New Hampshire 1 (3%) - 1 (1%) -
  Nevada 1 (3%) - 1 (1%) -
  Missouri 1 (3%) - 1 (1%) -
  Illinois 1 (3%) - 1 (1%) -
  Idaho - - 1 (1%) 17.4B (53%)
  Connecticut - - 1 (1%) -
  Alabama - - 1 (1%) -
  North Dakota - - 1 (1%) -
United Kingdom - - 6 (7%) 578M (2%)
Spain 2 (6%) - 3 (4%) -
Australia 2 (6%) - 2 (2%) -
Canada 1 (3%) - 2 (2%) -
  Quebec 1 (3%) - 1 (1%) -
  Ontario - - 1 (1%) -
Ireland - - 2 (2%) -
Japan - - 2 (2%) -
Netherlands - - 2 (2%) -
Italy 1 (3%) - 1 (1%) -
France - - 1 (1%) -
Germany - - 1 (1%) -
Austria - - 1 (1%) -
Bermuda - - 1 (1%) -
Domestic 27 (82%) 1.7B (100%) 60 (71%) 32.3B (98%)
Cross-border 6 (18%) - 24 (29%) 578M (2%)
Total 33 $1.7B 84 $32.9B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 9 (27%) - 25 (30%) 1.1B (3%)
Secondary Buyout 8 (24%) - 14 (17%) 1.9B (6%)
Divestiture 8 (24%) 1.4B (83%) 13 (15%) 10.8B (33%)
Special Situations/Distressed 4 (12%) 295M (17%) 13 (15%) 1.6B (5%)
Stake Purchase 1 (3%) - 8 (10%) -
Growth Capital 2 (6%) - 4 (5%) -
Going Private - - 3 (4%) 17.5B (53%)
Consolidation - - 1 (1%) -
PIPE - - 1 (1%) -
Recapitalization 1 (3%) - 1 (1%) -
Venture - - 1 (1%) -
Total 33 $1.7B 84 $32.9B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 16 (30%) 13.1B (97%)
Trade Sale 10 (19%) 380M (3%)
IPO 9 (17%) -
Secondary Sale 7 (13%) -
Bankruptcy 6 (11%) -
Sold to Management 2 (4%) 1M (< 1%)
Divestiture 1 (2%) -
Merger 1 (2%) -
Stake Sale 1 (2%) -
Total 53 $13.5B

Top M&A Advisors

Financial Deals
Credit Suisse Investment Banking
4
Sapient Corporate Finance
2
Morgan Stanley
1
Legal Deals
Kirkland & Ellis
5
Schulte Roth & Zabel LLP
5
Lowenstein Sandler LLP
3

Deal Values

buy # Total
> $1B 6 $30.1B
$100M to $1B 7 $2.6B
< $100M 2 $139M
TOTAL $32.9B
Largest Albertsons Companies, Inc.
$17.4B (2006-01-23)
sell # Total
> $1B 3 $10.9B
$100M to $1B 7 $2.4B
< $100M 4 $208M
TOTAL $13.5B
Largest TD Auto Finance LLC
$6.3B (2010-12-21)

M&A Connections

Deals
Acquired from
Investor(s)
19%
16 (19%)
Strategic(s)
17%
14 (17%)
Exited to
Investor(s)
13%
7 (13%)
Strategic(s)
51%
27 (51%)

FAQ

When was Cerberus Capital Management founded?

Cerberus Capital Management was founded in 1992.

What type of investor is Cerberus Capital Management?

Cerberus Capital Management is an asset manager.

Where is Cerberus Capital Management headquartered?

Cerberus Capital Management is headquartered in New York, New York.

How much capital does Cerberus Capital Management have under management?

Cerberus Capital Management has 55.0B USD under management.

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