Clearlake Capital Group Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Clearlake Capital Group has acquired 27 companies. It has also invested in 4 others.

Clearlake Capital Group’s most common sectors for investment aresoftware (19%) and internet software and services (18%) . The Firm’s most common investment types include secondary buyout (42%) and buyout (lbo, mbo, mbi) (14%). In total, Clearlake Capital Group has invested in 24 US states and 3 different countries. Its largest (disclosed) acquisition occurred in 2021 when it acquired Quest Software Systems for $5.4B.

In the last 3 years, Clearlake Capital Group has exited 9 companies. The Firm’s most common exit type is trade sale (42%). Clearlake Capital Group’s largest (disclosed) exit occurred in 2022 when it sold Brightly Software for $1.6B.

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M&A Summary

  • M&A Total Activity112
    • M&A Buy Activity81
    • M&A Sell Activity31
  • Total Sectors Invested 21
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 41
  • M&A Advisors 35

Clearlake Capital Group L.P.

233 Wilshire Boulevard, Suite 800,
Santa Monica, California 90401
United States
(310) 400-8800
www.clearlake.com
info@clearlake.com

Clearlake Capital Group is a private equity firm that focuses on corporate divestitures, recapitalizations, buyouts, restructurings, rescue financing, growth capital, turnarounds, and other equity investments. Clearlake seeks to partner with strong management teams by providing long-term capital and operational expertise. Areas of interest include technology, industrials, and consumer. Clearlake Capital Group was formed in 2006 and is based in Santa Monica, California.


Investment Criteria

Sectors of Interest: Beverages, Business Services, Consumer Products, Consumer Services, Energy Services and Equipment, Food, Information Technology, Internet Software and Services, Machinery, Manufacturing, Restaurants, Retail, Software, Technology Hardware

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Growth Capital, Recapitalization, Special Situations/Distressed, 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 ≤ '17 '18 '19 '20 '21 '22 T
Buy (8.4/yr) # 39 11 4 9 10 8 81
vol $3.0B $169M $5.1B $10.6B $3.7B $22.5B
Sell (2.4/yr) # 19 3 3 1 3 2 31
vol $482M $1.1B $1.6B $3.1B
  112

Most Recent M&A

Company Date Value Type
Knight Energy Services LLC 2022-11-03 - Secondary Buyout
Houston, Texas · www.ke.services
Crash Champions LLC 2022-07-14 - Growth Capital
Westmont, Illinois · www.crashchampions.com
Brightly Software, Inc. 2022-06-27 1.6B USD Add-on Acquisition
Cary, North Carolina · www.brightlysoftware.com
Chelsea Football Club Plc 2022-05-30 - Buyout (LBO, MBO, MBI)
London, United Kingdom · www.chelseafc.com
BBB Industries LLC 2022-05-19 - Secondary Buyout
Daphne, Alabama · www.bbbind.com
Kofax, Inc. 2022-04-26 - Secondary Buyout
Irvine, California · www.kofax.com
Concert Golf Partners 2022-04-21 - Growth Capital
Lake Mary, Florida · www.concertgolfpartners.com
BETA+ 2022-03-21 1.1B USD Divestiture
London, United Kingdom
Discovery Education, Inc. 2022-03-09 - Secondary Buyout
Charlotte, North Carolina · www.discoveryeducation.com
Intertape Polymer Group, Inc. 2022-03-08 2.6B USD Going Private
Sarasota, Florida · www.itape.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Newfold Digital, Inc. 2020-11-02 MarkMonitor, Inc. 2022-09-12 4
Jacksonville, Florida · www.newfold.com Meridian, Idaho · www.markmonitor.com
Wheel Pros, Inc. 2018-04-10 Transamerican Auto Parts Co. 2022-06-16 11
Lakewood, Colorado · www.wheelpros.com Compton, California · www.transamericanautoparts.com
Cornerstone OnDemand, Inc. 2021-08-05 SumTotal Systems LLC 2022-06-13 2
Santa Monica, California · www.cornerstoneondemand.com Gainesville, Florida · www.sumtotalsystems.com
RSA Security LLC 2020-02-18 RSA Conference Parent, Inc. 2022-03-15 1
Bedford, Massachusetts · www.rsa.com Bedford, Massachusetts · www.rsaconference.com
Newfold Digital, Inc. 2020-11-02 Hostopia Australia 2022-03-08 3
Jacksonville, Florida · www.newfold.com Sydney, Australia · www.hostopia.com.au
DigiCert, Inc. 2019-10-16 Mocana Corp. 2022-01-13 2
Lehi, Utah · www.digicert.com San Francisco, California · www.mocana.com
Team Technologies, Inc. 2018-11-15 iiMED Medical Solutions LLC 2022-01-12 4
Morristown, Tennessee · www.teamtech.com Amherst, New York · www.iimed.com
FloWorks International LLC 2012-03-12 Semitorr Group, Inc. 2022-01-06 6
Pasadena, Texas · www.gofloworks.com Tualatin, Oregon · www.semitorrinc.com
symplr 2018-10-23 Midas Health Analytics Solutions 2022-01-04 11
Houston, Texas · www.symplr.com Florham Park, New Jersey
Confluence Technologies, Inc. 2021-06-17 Compliance Solutions Strategies 2021-11-09 2
Pittsburgh, Pennsylvania · www.confluence.com New York, New York · www.cssregtech.com

M&A by Sector

Sector Current # Value All-time # Value
Software 8 (17%) 5.7B (28%) 15 (19%) 5.7B (25%)
Internet Software and Services 11 (23%) 8.8B (43%) 14 (17%) 9.0B (40%)
Information Technology 5 (10%) 2.1B (10%) 8 (10%) 2.6B (11%)
Automotive 4 (8%) - 7 (9%) -
Energy Services and Equipment 2 (4%) - 5 (6%) 135M (1%)
Business Services 1 (2%) 1.1B (5%) 4 (5%) 1.1B (5%)
Food 2 (4%) - 4 (5%) -
Consumer Products 2 (4%) - 3 (4%) 1.3B (6%)
Building Materials 3 (6%) - 3 (4%) -
Media 1 (2%) - 3 (4%) -
Packaging 2 (4%) 2.6B (13%) 2 (2%) 2.6B (12%)
Communications - - 2 (2%) 125M (1%)
Distribution 1 (2%) - 2 (2%) -
Manufacturing 2 (4%) - 2 (2%) -
Apparel/Textiles - - 1 (1%) -
E-Commerce - - 1 (1%) -
Education 1 (2%) - 1 (1%) -
Information Services 1 (2%) - 1 (1%) -
Leisure 1 (2%) - 1 (1%) -
Plastics 1 (2%) - 1 (1%) -
Retail - - 1 (1%) -
Total 48 $20.3B 81 $22.5B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 46 (96%) 19.2B (95%) 77 (95%) 21.4B (95%)
  California 7 (15%) 10.6B (52%) 14 (17%) 12.5B (55%)
  Texas 6 (13%) - 11 (14%) 135M (1%)
  New Jersey 3 (6%) 320M (2%) 7 (9%) 320M (1%)
  Massachusetts 4 (8%) 2.1B (10%) 5 (6%) 2.1B (9%)
  Florida 3 (6%) 5.6B (28%) 5 (6%) 5.6B (25%)
  New York 3 (6%) 624M (3%) 4 (5%) 624M (3%)
  Georgia 3 (6%) - 4 (5%) -
  Utah 3 (6%) - 3 (4%) -
  Pennsylvania 2 (4%) - 3 (4%) -
  Minnesota 1 (2%) - 3 (4%) 169M (1%)
  Washington 1 (2%) - 2 (2%) -
  North Carolina 1 (2%) - 2 (2%) -
  Missouri 1 (2%) - 2 (2%) -
  Illinois 1 (2%) - 2 (2%) -
  Tennessee 1 (2%) - 1 (1%) -
  Ohio 1 (2%) - 1 (1%) -
  Kentucky 1 (2%) - 1 (1%) -
  Kansas 1 (2%) - 1 (1%) -
  Colorado 1 (2%) - 1 (1%) -
  Alabama 1 (2%) - 1 (1%) -
  Wisconsin 1 (2%) - 1 (1%) -
  South Carolina - - 1 (1%) -
  Nebraska - - 1 (1%) -
  Michigan - - 1 (1%) -
United Kingdom 2 (4%) 1.1B (5%) 3 (4%) 1.1B (5%)
Australia - - 1 (1%) -
Domestic 46 (96%) 19.2B (95%) 77 (95%) 21.4B (95%)
Cross-border 2 (4%) 1.1B (5%) 4 (5%) 1.1B (5%)
Total 48 $20.3B 81 $22.5B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 26 (54%) 5.4B (27%) 34 (42%) 5.9B (26%)
Buyout (LBO, MBO, MBI) 3 (6%) - 11 (14%) -
Growth Capital 6 (13%) - 8 (10%) -
Divestiture 5 (10%) 3.5B (17%) 7 (9%) 3.7B (16%)
Going Private 4 (8%) 11.4B (56%) 6 (7%) 12.7B (56%)
Recapitalization - - 6 (7%) 135M (1%)
Consolidation 2 (4%) - 4 (5%) -
Special Situations/Distressed - - 2 (2%) -
PIPE - - 1 (1%) 125M (1%)
Stake Purchase 1 (2%) - 1 (1%) -
Venture 1 (2%) - 1 (1%) -
Total 48 $20.3B 81 $22.5B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 9 (29%) 2.9B (92%)
Secondary Sale 9 (29%) -
Trade Sale 5 (16%) 250M (8%)
Merger 5 (16%) -
Bankruptcy 1 (3%) -
IPO 1 (3%) -
Stake Sale 1 (3%) -
Total 31 $3.1B

Top M&A Advisors

Financial Deals
Evercore Group LLC
7
UBS Investment Bank
7
Deutsche Bank Corporate & Investment Banking
7
Legal Deals
Sidley Austin LLP
10
Kirkland & Ellis LLP
5
Cooley LLP
4

Deal Values

buy # Total
> $1B 7 $20.6B
$100M to $1B 6 $1.9B
TOTAL $22.5B
Largest Quest Software Systems, Inc.
$5.4B (2021-11-29)
sell # Total
> $1B 2 $2.6B
$100M to $1B 2 $482M
TOTAL $3.1B
Largest Brightly Software, Inc.
$1.6B (2022-06-27)

M&A Connections

Deals
Acquired from
Investor(s)
43%
35 (43%)
Strategic(s)
7%
6 (7%)
Exited to
Investor(s)
29%
9 (29%)
Strategic(s)
58%
18 (58%)

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