Forstmann Little Mergers and Acquisitions Summary

Profile

Forstmann Little’s most common sectors for investment aremedia (20%) and consumer products (20%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (50%) and divestiture (20%). In total, Forstmann Little has invested in 7 US states. Its largest (disclosed) acquisition occurred in 1996 when it acquired Community Health Systems for $1.1B.

The Firm’s most common exit type is trade sale (30%). Forstmann Little’s largest (disclosed) exit occurred in 2013 when it sold International Management Group for $2.3B.

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M&A Summary

  • M&A Total Activity20
    • M&A Buy Activity10
    • M&A Sell Activity10
  • Total Sectors Invested 8
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 6
  • M&A Advisors 2

Forstmann Little & Co.

767 5th Ave.,
New York, New York 10153
United States
(212)355-5656

Forstmann Little & Co. is a private investment firm focused on investments in aerospace, consumer products/services, communications, technology, education, and healthcare companies. The Firm will consider investments in both public and private companies. Forstmann Little was most active in the 80s and 90s. Despite it's size and history, the Firm does not maintain a website. Forstmann Little was formed in 1978 and is based in New York City.


Investment Criteria

Sectors of Interest: Aerospace, Beverages, Building Materials, Business Services, Chemicals, Communications, Consumer Products, Consumer Services, Digital Media, Education, Furniture, Healthcare Services, Manufacturing, Marketing, Media, Medical Products, Publishing, Retail, Software, Technology Hardware

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Going Private, Growth Capital, Secondary Buyout, Stake Purchase

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 100 -
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (0.0/yr) # 10 - - - - - 10
vol $2.8B $2.8B
Sell (0.0/yr) # 10 - - - - - 10
vol $3.3B $3.3B
  20

Most Recent M&A

Company Date Value Type
24 Hour Fitness 2014-03-30 - Secondary Buyout
San Ramon, California · www.24hourfitness.com
International Management Group 2013-12-18 2.3B USD Add-on Acquisition
Beverly Hills, California · www.img.com
24 Hour Fitness 2005-05-03 - Secondary Buyout
San Ramon, California · www.24hourfitness.com
International Management Group 2004-11-01 - Buyout (LBO, MBO, MBI)
Beverly Hills, California · www.img.com
Yankee Candle Co., Inc. 2003-09-05 217M USD Secondary Buyout
South Deerfield, Massachusetts · www.yankeecandle.com
Community Health Systems, Inc. 2000-06-09 - IPO
Franklin, Tennessee · www.chs.net
Yankee Candle Co., Inc. 1998-01-01 177M USD Buyout (LBO, MBO, MBI)
South Deerfield, Massachusetts · www.yankeecandle.com
The Thompson Minwax Co. 1996-11-23 830M USD Divestiture
Upper Saddle River, New Jersey
Gulfstream Aerospace Corp. 1996-10-17 - IPO
Savannah, Georgia · www.gulfstream.com
Community Health Systems, Inc. 1996-06-11 1.1B USD Going Private
Franklin, Tennessee · www.chs.net
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Consumer Products - - 2 (20%) -
Media - - 2 (20%) -
Healthcare Services - - 1 (10%) 1.1B (39%)
Aerospace - - 1 (10%) 825M (29%)
Chemicals - - 1 (10%) 700M (25%)
Retail - - 1 (10%) 177M (6%)
Consumer Services - - 1 (10%) -
Furniture - - 1 (10%) -
Total - - 10 $2.8B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States - - 10 (100%) 2.8B (100%)
  California - - 3 (30%) -
  New York - - 2 (20%) -
  Tennessee - - 1 (10%) 1.1B (39%)
  Georgia - - 1 (10%) 825M (29%)
  New Jersey - - 1 (10%) 700M (25%)
  Massachusetts - - 1 (10%) 177M (6%)
  North Carolina - - 1 (10%) -
Total - - 10 $2.8B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) - - 5 (50%) 177M (6%)
Divestiture - - 2 (20%) 1.5B (54%)
Going Private - - 1 (10%) 1.1B (39%)
Secondary Buyout - - 1 (10%) -
Stake Purchase - - 1 (10%) -
Total - - 10 $2.8B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 3 (30%) 830M (25%)
Secondary Sale 3 (30%) 217M (6%)
IPO 2 (20%) -
Trade Sale 1 (10%) 2.3B (69%)
Unknown 1 (10%) -
Total 10 $3.3B

Top M&A Advisors

Legal Deals
Jones Day
 1
Akin Gump Strauss Hauer & Feld LLP
 1

Deal Values

buy # Total
> $1B 1 $1.1B
$100M to $1B 3 $1.7B
TOTAL $2.8B
Largest Community Health Systems, Inc.
$1.1B (1996-06-11)
sell # Total
> $1B 1 $2.3B
$100M to $1B 2 $1.0B
TOTAL $3.3B
Largest International Management Group
$2.3B (2013-12-18)

M&A Connections

Deals
Acquired from
Investor(s)
10%
1 (10%)
Strategic(s)
20%
2 (20%)
Exited to
Investor(s)
20%
2 (20%)
Strategic(s)
40%
4 (40%)

Investor Summary

Size

Small

Established

1978

Specialist/Generalist

Generalist

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