FTV Capital Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, FTV Capital has invested in 11 companies.

FTV Capital’s most common sectors for investment are information technology (27%) and software (20%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (40%) and growth capital (33%). In total, FTV Capital has invested in 21 US states and 8 different countries. Its largest (disclosed) acquisition occurred in 1999 when it acquired Financial Engines for $85M.

In the last 3 years, FTV Capital has exited 6 companies. The Firm’s most common exit type is trade sale (73%). FTV Capital’s largest (disclosed) exit occurred in 2015 when it sold MarketShare Partners for $450M.

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M&A Summary

  • M&A Total Activity136
    • M&A Buy Activity93
    • M&A Sell Activity43
  • Total Sectors Invested 8
  • Total Countries Invested 8
  • M&A Buy/Sell Connections 57
  • M&A Advisors 1

FTV Capital

555 California Street Suite 2850,
San Francisco, California 94104
United States
(415) 229-3000
www.ftvcapital.com
businessplans@ftvcapital.com

FTV Management Company, L.P. (FTV Capital) is a multi-stage private equity firm focused on providing capital to high-growth companies. FTV generally seeks to invest in software, business services, and financial services companies which enable financial institutions to expand and to operate more efficiently. Investment proceeds are typically used to fund rapid organic growth, provide shareholder liquidity, pursue add-on acquisitions, or acquire divestitures. FTV prefers to act as the lead or control investor and targets equity commitments of $10 to $85 million per transaction. FTV Capital was established in 1998 and was formerly known as FTVentures. FTV Capital is based in San Francisco with an additional office in New York City.


Investment Criteria

Sectors of Interest: Business Services, Communications, Education, Financial Services, Information Technology, Insurance, Internet Software and Services, Marketing, Software, Technology Hardware

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Growth Capital, Recapitalization, Secondary Buyout, Stake Purchase, Venture

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

Transaction Criteria Min Max
Target Revenue 10 100
Target EBITDA - -
Investment Size 10 85
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (4.2/yr) # 72 6 5 6 - 4 93
vol $237M $237M
Sell (2.0/yr) # 33 3 3 1 3 - 43
vol $1.8B $350M $395M $75M $2.6B
  136

Most Recent M&A

Company Date Value Type
Bought By Many Ltd. 2020-05-05 - Growth Capital
London, United Kingdom · www.boughtbymany.com
Sysxnet Ltd. 2020-02-06 - Growth Capital
Dublin 12, Ireland · www.sysnetgs.com
Centaur Fund Services Ltd. 2020-01-29 - Growth Capital
Dublin, Ireland · www.centaurfs.com
Security Compass 2020-01-16 - Growth Capital
Toronto, Ontario · www.securitycompass.com
Empyrean Benefit Solutions, Inc. 2019-11-25 - Add-on Acquisition
Houston, Texas · www.goempyrean.com
ASPire Financial Services LLC 2019-07-31 - Add-on Acquisition
St. Petersburg, Florida · www.aspirefinserv.com
Catalyst Repository Systems, Inc. 2019-01-31 75M USD Add-on Acquisition
Denver, Colorado · www.catalystsecure.com
Egress Software Technologies Ltd. 2018-12-18 - Growth Capital
London, United States · www.egress.com
Vagaro, Inc. 2018-12-05 - Growth Capital
Dublin, California · www.vagaro.com
RapidRatings 2018-09-11 - Growth Capital
New York, New York · www.rapidratings.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
World First U.K. Ltd. 2013-11-11 Currency Technologies Pty Ltd. 2019-03-04 1
London, United Kingdom · www.worldfirst.com Sydney, Australia · www.currencyvue.com
ETF Securities (UK) Ltd. 2006-10-20 Canvas 2017-11-15 2
London, United Kingdom · www.etfsecurities.com London, United Kingdom · www.etfcanvas.com
ETF Securities (UK) Ltd. 2006-10-20 ETF Securities (UK) Ltd. - Exchange-Traded Commodity, Currency and Short Leveraged Business 2017-11-13 1
London, United Kingdom · www.etfsecurities.com London, United Kingdom
Centro, Inc. 2010-12-30 GraphScience, Inc. 2015-07-24 2
Chicago, Illinois · www.centro.net San Francisco, California · www.graphscience.com
Centro, Inc. 2010-12-30 SiteScout, Inc. 2013-11-04 1
Chicago, Illinois · www.centro.net Toronto, Ontario · www.sitescout.com

M&A by Sector

Sector Current # Value All-time # Value
Information Technology 11 (26%) - 25 (27%) 41M (17%)
Software 5 (12%) 36M (32%) 18 (19%) 36M (15%)
Financial Services 9 (21%) 75M (68%) 16 (17%) 75M (32%)
Business Services 8 (19%) - 15 (16%) 85M (36%)
Internet Software and Services 7 (16%) - 15 (16%) -
Insurance 1 (2%) - 2 (2%) -
Consumer Services 1 (2%) - 1 (1%) -
Technology Hardware 1 (2%) - 1 (1%) -
Total 43 $111M 93 $237M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 33 (77%) 75M (68%) 79 (85%) 201M (85%)
  California 5 (12%) - 20 (22%) 85M (36%)
  New York 7 (16%) - 11 (12%) -
  Illinois 6 (14%) 75M (68%) 9 (10%) 75M (32%)
  Washington 2 (5%) - 5 (5%) -
  Colorado 2 (5%) - 4 (4%) -
  Georgia 1 (2%) - 4 (4%) -
  Florida 2 (5%) - 3 (3%) -
  Texas 1 (2%) - 3 (3%) 41M (17%)
  Massachusetts 1 (2%) - 3 (3%) -
  Virginia 1 (2%) - 3 (3%) -
  Tennessee 1 (2%) - 2 (2%) -
  Pennsylvania - - 2 (2%) -
  Wisconsin - - 2 (2%) -
  North Carolina 1 (2%) - 1 (1%) -
  New Jersey 1 (2%) - 1 (1%) -
  Utah 1 (2%) - 1 (1%) -
  Oregon - - 1 (1%) -
  Missouri - - 1 (1%) -
  Maine - - 1 (1%) -
  Connecticut - - 1 (1%) -
United Kingdom 5 (12%) - 6 (6%) -
Ireland 2 (5%) - 2 (2%) -
Canada 1 (2%) - 2 (2%) -
  Ontario 1 (2%) - 2 (2%) -
China 1 (2%) 36M (32%) 1 (1%) 36M (15%)
India 1 (2%) - 1 (1%) -
Bermuda - - 1 (1%) -
Luxembourg - - 1 (1%) -
Domestic 33 (77%) 75M (68%) 79 (85%) 201M (85%)
Cross-border 10 (23%) 36M (32%) 14 (15%) 36M (15%)
Total 43 $111M 93 $237M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 13 (30%) 36M (32%) 37 (40%) 77M (32%)
Growth Capital 25 (58%) 75M (68%) 30 (32%) 75M (32%)
Venture 4 (9%) - 23 (25%) 85M (36%)
Stake Purchase 1 (2%) - 2 (2%) -
Secondary Buyout - - 1 (1%) -
Total 43 $111M 93 $237M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 25 (58%) 2.6B (100%)
Trade Sale 12 (28%) -
IPO 4 (9%) -
Recapitalization 1 (2%) -
Secondary Sale 1 (2%) -
Total 43 $2.6B

Top M&A Advisors

Legal Deals
Kirkland & Ellis LLP
 2

Deal Values

buy # Total
< $100M 4 $237M
TOTAL $237M
Largest Financial Engines, Inc.
$85M (1999-12-16)
sell # Total
$100M to $1B 7 $2.3B
< $100M 7 $316M
TOTAL $2.6B
Largest MarketShare Partners LLC
$450M (2015-11-05)

M&A Connections

Deals %
Acquired from
PE Firm(s)
100%
1 100%
Exited to
PE Firm(s)
6%
2 6%
Strategic(s)
94%
31 94%

Investor Summary

Size

Large

PE Assets

2.7B USD

Established

1998

Specialist/Generalist

Generalist

Leadership

Brad Bernstein

Managing Partner

Richard Garman

Managing Partner

Karen Derr Gilbert

Partner

Liron Gitig

Partner

David Haynes

Partner & COO

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