Cherington Capital Mergers and Acquisitions Summary

Private Equity Profile

Cherington Capital’s most common sectors for investment are business services (34%) and energy services and equipment (34%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (100%). In total, Cherington Capital has invested in 2 US states.

The Firm’s most common exit type is trade sale (100%). Cherington Capital’s largest (disclosed) exit occurred in 2012 when it sold Ulterra Drilling Technologies for $325M.

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M&A Summary

  • M&A Total Activity5
    • M&A Buy Activity3
    • M&A Sell Activity2
  • Total Sectors Invested 3
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 6

Cherington Capital LLC

50 Church St # 400,
Cambridge, Massachusetts 02138
United States,
(617)401-8404
www.cherington.com
info@cherington.com

Cherington Capital is a generalist private equity investment firm focused on recapitalizations and leveraged buyouts of lower middle-market companies. Cherington prefers to partner with management when making investments. The Firm generally looks for businesses valued from $10 to $70 million with trailing EBIT of $2.5 to $15 million. Cherington Capital is based in Cambridge, Massachusetts.


Investment Criteria

Sectors of Interest: Aerospace, Beverages, Business Services, Consumer Products, Consumer Services, Defense, Distribution, Education, Electrical Equipment, Electronics, Energy Services and Equipment, Financial Services, Food, Healthcare Services, Information Technology, Internet Software and Services, Life Science, Medical Products, Oil/Gas Exploration, Packaging, Software, Technology Hardware

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

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA 3 15
Investment Size - -
Enterprise Value 10 70
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (0.0/yr) # 3 - - - - - 3
Sell (0.0/yr) # 2 - - - - - 2
vol $325M $325M
  5

Most Recent M&A

Company Date Value Type
Ulterra Drilling Technologies LP 2012-08-14 325M USD Add-on Acquisition
Fort Worth, Texas · www.ulterra.com
International Logging, Inc. 2008-08-18 - Add-on Acquisition
Houston, Texas · www.inter-log.com
International Logging, Inc. 2006-03-13 - Buyout (LBO, MBO, MBI)
Houston, Texas · www.inter-log.com
Ulterra Drilling Technologies LP 2005-05-16 - Buyout (LBO, MBO, MBI)
Fort Worth, Texas · www.ulterra.com
Pacific Consolidated Industries LLC 2004-01-01 - Buyout (LBO, MBO, MBI)
Riverside, California · www.pcigases.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Business Services - - 1 (33%) -
Energy Services and Equipment - - 1 (33%) -
Machinery - - 1 (33%) -
Total - - 3 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States - - 3 (100%) -
  Texas - - 2 (67%) -
  California - - 1 (33%) -
Total - - 3 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) - - 3 (100%) -
Total - - 3 -

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 2 (100%) 325M (100%)
Total 2 $325M

Deal Values

sell # Total
$100M to $1B 1 $325M
TOTAL $325M
Largest Ulterra Drilling Technologies LP
$325M (2012-08-14)

M&A Connections

Deals %
Exited to
Strategic(s)
100%
2 100%