Fidus Investment Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Fidus Investment has acquired 2 companies. It has also invested in 5 others.

Fidus Investment’s most common sectors for investment are software (12%) and aerospace (6%). The Firm’s most common investment types include growth capital (53%) and secondary buyout (24%). In total, Fidus Investment has invested in 12 US states. Its largest (disclosed) acquisition occurred in 2012 when it acquired Hoonuit for $19M.

In the last 3 years, Fidus Investment has exited 2 companies. The Firm’s most common exit type is secondary buyout (67%).

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M&A Summary

  • M&A Total Activity20
    • M&A Buy Activity17
    • M&A Sell Activity3
  • Total Sectors Invested 16
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 13

Fidus Investment Corp.

1603 Orrington Avenue, Suite 1005,
Evanston, Illinois 60201
United States
(847) 859-3940
www.fdus.com
info@fdus.com

Fidus Investment Corp. is a business development company that looks to provide financing solutions for small to mid-sized companies with $10 to $150 million in revenue. Fidus looks to invest mezzanine debt, senior secured debt and equity in businesses with proven business models, leading market positions, high free cash flow, and strong management teams. Industries of interest include business services, industrial products, value-added distribution, healthcare products/services, consumer products, consumer services, aerospace/defense, energy services, transportation, government IT, and niche manufacturing. Fidus Investment Corp. is based in Evanston, Illinois.


Investment Criteria

Sectors of Interest: Aerospace, Beverages, Business Services, Consumer Products, Consumer Services, Defense, Distribution, Energy Services and Equipment, Food, Healthcare Services, Information Services, Information Technology, Insurance, Internet Software and Services, Manufacturing, Medical Products, Retail, Software, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Secondary Buyout

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

Transaction Criteria Min Max
Target Revenue 10 150
Target EBITDA - -
Investment Size - -
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (2.2/yr) # 6 2 4 4 1 - 17
vol $19M $19M
Sell (0.6/yr) # - 1 - 1 1 - 3
  20

Most Recent M&A

Company Date Value Type
The Wolf Organization LLC 2019-09-10 - Secondary Buyout
York, Pennsylvania · www.wolfhomeproducts.com
Bedford Precision Parts LLC 2019-03-01 - Growth Capital
Bedford Hills, New York · www.bedfordprecision.com
Alzheimer’s Research and Treatment Center 2018-10-23 - Growth Capital
Wellington, Florida · www.researchalz.com
WasteWater Transport Services 2018-08-01 - Growth Capital
Austin, Texas · www.wastewaterts.com
Inflexxion, Inc. 2018-07-10 - Add-on Acquisition
Newton, Massachusetts
CRS Solutions 2018-03-21 - Recapitalization
Houston, Texas · www.crssolutions.com
Auto-Vehicle Parts Co. 2018-01-03 - Growth Capital
Cold Spring, Kentucky · www.auveco.com
Gurobi Optimization LLC 2017-12-19 - Recapitalization
Beaverton, Oregon · www.gurobi.com
Mesa Line Services LLC 2017-12-01 - Growth Capital
Alvin, Texas · www.mesalinesvc.com
BCC Software LLC 2017-10-11 - Secondary Buyout
Rochester, New York · www.bccsoftware.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Hoonuit LLC 2012-04-11 Tembo, Inc. 2019-12-05 4
Minneapolis, Minnesota · www.hoonuit.com Philadelphia, Pennsylvania · www.temboinc.com
Hoonuit LLC 2012-04-11 DecisionInsite 2019-06-12 3
Minneapolis, Minnesota · www.hoonuit.com Irvine, California · www.decisioninsite.com
Hoonuit LLC 2012-04-11 Mizuni, Inc. 2019-04-03 2
Minneapolis, Minnesota · www.hoonuit.com Addison, Texas · www.mizuni.com
BCC Software LLC 2017-10-11 Satori Software, Inc. 2019-01-29 1
Rochester, New York · www.bccsoftware.com Seattle, Washington · www.satorisoftware.com
Hoonuit LLC 2012-04-11 Versifit Technologies LLC 2015-07-16 1
Minneapolis, Minnesota · www.hoonuit.com Appleton, Wisconsin · www.versifit.com

M&A by Sector

Sector Current # Value All-time # Value
Software 2 (14%) - 2 (12%) -
Internet Software and Services 1 (7%) 19M (100%) 1 (6%) 19M (100%)
Aerospace 1 (7%) - 1 (6%) -
Automotive 1 (7%) - 1 (6%) -
Building Materials - - 1 (6%) -
Business Services 1 (7%) - 1 (6%) -
Consumer Products 1 (7%) - 1 (6%) -
Distribution 1 (7%) - 1 (6%) -
Environmental 1 (7%) - 1 (6%) -
Information Services - - 1 (6%) -
Information Technology 1 (7%) - 1 (6%) -
Insurance - - 1 (6%) -
Life Science 1 (7%) - 1 (6%) -
Restaurants 1 (7%) - 1 (6%) -
Retail 1 (7%) - 1 (6%) -
Utilities 1 (7%) - 1 (6%) -
Total 14 $19M 17 $19M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 14 (100%) 19M (100%) 17 (100%) 19M (100%)
  Texas 4 (29%) - 4 (24%) -
  New York 2 (14%) - 2 (12%) -
  New Jersey 1 (7%) - 2 (12%) -
  Minnesota 1 (7%) 19M (100%) 1 (6%) 19M (100%)
  Oregon 1 (7%) - 1 (6%) -
  Kentucky 1 (7%) - 1 (6%) -
  Georgia 1 (7%) - 1 (6%) -
  Florida 1 (7%) - 1 (6%) -
  Connecticut 1 (7%) - 1 (6%) -
  Colorado 1 (7%) - 1 (6%) -
  Pennsylvania - - 1 (6%) -
  Massachusetts - - 1 (6%) -
Total 14 $19M 17 $19M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 7 (50%) - 9 (53%) -
Secondary Buyout 4 (29%) 19M (100%) 4 (24%) 19M (100%)
Buyout (LBO, MBO, MBI) 1 (7%) - 2 (12%) -
Recapitalization 2 (14%) - 2 (12%) -
Total 14 $19M 17 $19M

Exits by Deal Type

Type Total # Value
Secondary Sale 2 (67%) -
Trade Sale 1 (33%) -
Total 3 -

Deal Values

buy # Total
< $100M 1 $19M
TOTAL $19M
Largest Hoonuit LLC
$19M (2012-04-11)

M&A Connections

Deals %
Acquired from
PE Firm(s)
100%
4 100%
Exited to
PE Firm(s)
67%
2 67%
Strategic(s)
33%
1 33%

Investor Summary

Size

Middle-Market

Established

2011

Specialist/Generalist

Generalist

Leadership

Edward Imbrogno

Co-Founder & Partner

John Grigg

Co-Founder, Partner & Investment Committee Member

Edward Ross

Chairman & CEO

Shelby Sherard

CFO, CCO & Secretary

Thomas Lauer

President & Interested Director

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