General Atlantic Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, General Atlantic has acquired 6 companies. It has also invested in 18 others.

General Atlantic’s most common sectors for investment are internet software and services (20%) and information technology (14%). The Firm’s most common investment types include growth capital (46%) and stake purchase (14%). In total, General Atlantic has invested in 22 US states and 26 different countries. Its largest (disclosed) acquisition occurred in 2008 when it acquired Gavilon for $2.8B.

In the last 3 years, General Atlantic has exited 14 companies. The Firm’s most common exit type is trade sale (37%). General Atlantic’s largest (disclosed) exit occurred in 2017 when it sold AppDynamics for $3.7B.

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M&A Summary

M&A Total Activity280
- M&A Buy Activity181
- M&A Sell Activity99
Total Sectors Invested 30
Total Countries Invested 26
M&A Buy/Sell Connections 117
M&A Advisors 26

General Atlantic

600 Steamboat Road, Suite 105 ,
Greenwich, Connecticut 06830
United States
(203) 629-8600
www.generalatlantic.com
info@generalatlantic.com

Transaction Criteria	Min	Max
Target Revenue	-	-
Target EBITDA	-	-
Investment Size	40	400
Enterprise Value	-	-
values in millions of EUR

Transaction Criteria

Min

Max

Target Revenue

Target EBITDA

Investment Size

400

Enterprise Value

values in millions of EUR

Year	≤ '16	'17	'18	'19	'20	'21	T
Buy (6.0/yr)	#	151	7	15	3	4	1	181
vol	$8.9B						$8.9B
Sell (4.0/yr)	#	79	6	5	7	2	-	99
vol	$17.0B	$10.7B	$2.5B	$161M			$30.4B
	280

Year

≤ '16

'17

'18

'19

'20

'21

Buy (6.0/yr)

151

181

vol

$8.9B

Sell (4.0/yr)

vol

$17.0B

$10.7B

$2.5B

$161M

$30.4B

280

Company	Date	Value	Type
Equality Health	2021-01-26	-	Secondary Buyout
Phoenix, Arizona · www.equalityhealth.com
dLocal	2020-09-15	-	Growth Capital
Montevideo, Uruguay · www.dlocal.com
Gymshark Ltd.	2020-08-14	-	Growth Capital
Solihull, United Kingdom · www.gymshark.com
Jio Platforms Ltd.	2020-04-21	-	Stake Purchase
Navi Mumbai, India
ControlExpert GmbH	2020-03-09	-	Secondary Buyout
Langenfeld, Germany · www.controlexpert.com
Comprehensive Educational Services Inc.	2020-01-15	-	Growth Capital
San Diego, California · www.acesaba.com
European Wax Center, Inc.	2020-01-01	-	Secondary Buyout
Aventura, Florida · www.waxcenter.com
Marathon Health LLC	2019-10-08	-	Secondary Buyout
Winooski, Vermont · www1.marathon-health.com
Motif FoodWorks, Inc.	2019-08-15	-	Venture
Boston, Massachusetts · www.www.madewithmotif.com
EN Engineering LLC	2019-07-18	-	Secondary Buyout
Warrenville, Illinois · www.enengineering.com
View All >>

Company

Date

Value

Type

Equality Health

2021-01-26

Secondary Buyout

Phoenix, Arizona · www.equalityhealth.com

dLocal

2020-09-15

Growth Capital

Montevideo, Uruguay · www.dlocal.com

Gymshark Ltd.

2020-08-14

Growth Capital

Solihull, United Kingdom · www.gymshark.com

Jio Platforms Ltd.

2020-04-21

Stake Purchase

Navi Mumbai, India

ControlExpert GmbH

2020-03-09

Secondary Buyout

Langenfeld, Germany · www.controlexpert.com

Comprehensive Educational Services Inc.

2020-01-15

Growth Capital

San Diego, California · www.acesaba.com

European Wax Center, Inc.

2020-01-01

Secondary Buyout

Aventura, Florida · www.waxcenter.com

Marathon Health LLC

2019-10-08

Secondary Buyout

Winooski, Vermont · www1.marathon-health.com

Motif FoodWorks, Inc.

2019-08-15

Venture

Boston, Massachusetts · www.www.madewithmotif.com

EN Engineering LLC

2019-07-18

Secondary Buyout

Warrenville, Illinois · www.enengineering.com

View All >>

Company	Acquired	Add-On/Sale	Date	#
Amherst Pierpont Securities LLC	2010-03-03	Amherst Holdings LLC	2014-07-01	2
New York, New York · www.apsec.com	Austin, Texas · www.amherst.com
Amherst Pierpont Securities LLC	2010-03-03	Cortview Capital Securities LLC	2012-07-30	1
New York, New York · www.apsec.com	Richmond, Virginia · www.cortcap.com

Company

Acquired

Add-On/Sale

Date

Amherst Pierpont Securities LLC

2010-03-03

Amherst Holdings LLC

2014-07-01

New York, New York · www.apsec.com

Austin, Texas · www.amherst.com

Amherst Pierpont Securities LLC

2010-03-03

Cortview Capital Securities LLC

2012-07-30

New York, New York · www.apsec.com

Richmond, Virginia · www.cortcap.com

Sector	Current #	Value	All-time #	Value
Internet Software and Services	17 (22%)	-	35 (19%)	15M (< 1%)
Information Technology	5 (6%)	319M (24%)	25 (14%)	584M (7%)
Financial Services	11 (14%)	220M (16%)	21 (12%)	1.6B (18%)
Business Services	1 (1%)	-	18 (10%)	3.9B (44%)
Healthcare Services	7 (9%)	-	11 (6%)	-
Retail	8 (10%)	-	10 (5%)	-
Software	2 (3%)	-	8 (4%)	-
E-Commerce	1 (1%)	-	6 (3%)	43M (< 1%)
Life Science	3 (4%)	-	5 (3%)	-
Engineering	-	-	4 (2%)	1.7B (19%)
Marketing	2 (3%)	-	4 (2%)	-
Restaurants	3 (4%)	-	4 (2%)	-
Insurance	1 (1%)	385M (29%)	3 (2%)	385M (4%)
Information Services	-	-	3 (2%)	122M (1%)
Consumer Products	2 (3%)	-	3 (2%)	-
Education	3 (4%)	-	3 (2%)	-
Staffing	-	-	2 (1%)	200M (2%)
Consumer Services	1 (1%)	-	2 (1%)	-
Digital Media	1 (1%)	-	2 (1%)	-
Publishing	1 (1%)	-	2 (1%)	-
Transportation	2 (3%)	-	2 (1%)	-
Infrastructure	1 (1%)	425M (32%)	1 (1%)	425M (5%)
Apparel/Textiles	1 (1%)	-	1 (1%)	-
Automotive	-	-	1 (1%)	-
Energy Services and Equipment	1 (1%)	-	1 (1%)	-
Environmental	1 (1%)	-	1 (1%)	-
Food	1 (1%)	-	1 (1%)	-
Media	-	-	1 (1%)	-
Medical Products	1 (1%)	-	1 (1%)	-
Technology Hardware	-	-	1 (1%)	-
Total	77	$1.3B	182	$8.9B

Sector

Current #

Value

All-time #

Value

Internet Software and Services

17 (22%)

35 (19%)

15M (< 1%)

Information Technology

5 (6%)

319M (24%)

25 (14%)

584M (7%)

Financial Services

11 (14%)

220M (16%)

21 (12%)

1.6B (18%)

Business Services

1 (1%)

18 (10%)

3.9B (44%)

Healthcare Services

7 (9%)

11 (6%)

Retail

8 (10%)

10 (5%)

Software

2 (3%)

8 (4%)

E-Commerce

1 (1%)

6 (3%)

43M (< 1%)

Life Science

3 (4%)

5 (3%)

Engineering

4 (2%)

1.7B (19%)

Marketing

2 (3%)

4 (2%)

Restaurants

3 (4%)

4 (2%)

Insurance

1 (1%)

385M (29%)

3 (2%)

385M (4%)

Information Services

3 (2%)

122M (1%)

Consumer Products

2 (3%)

3 (2%)

Education

3 (4%)

3 (2%)

Staffing

2 (1%)

200M (2%)

Consumer Services

1 (1%)

2 (1%)

Digital Media

1 (1%)

2 (1%)

Publishing

1 (1%)

2 (1%)

Transportation

2 (3%)

2 (1%)

Infrastructure

1 (1%)

425M (32%)

1 (1%)

425M (5%)

Apparel/Textiles

1 (1%)

Automotive

1 (1%)

Energy Services and Equipment

1 (1%)

Environmental

1 (1%)

Food

1 (1%)

Media

1 (1%)

Medical Products

1 (1%)

Technology Hardware

1 (1%)

Total

$1.3B

182

$8.9B

State/Country	Current #	Value	All-time #	Value
United States	29 (38%)	539M (40%)	85 (47%)	6.7B (76%)
	California	5 (6%)	-	20 (11%)	-
	New York	6 (8%)	220M (16%)	13 (7%)	1.9B (22%)
	Texas	3 (4%)	-	6 (3%)	-
	Massachusetts	3 (4%)	-	6 (3%)	-
	Illinois	2 (3%)	-	6 (3%)	-
	Connecticut	2 (3%)	-	6 (3%)	-
	South Carolina	2 (3%)	-	4 (2%)	-
	Tennessee	2 (3%)	319M (24%)	3 (2%)	319M (4%)
	Arizona	2 (3%)	-	3 (2%)	-
	Florida	-	-	3 (2%)	-
	Washington	1 (1%)	-	2 (1%)	-
	Virginia	-	-	2 (1%)	1.7B (19%)
	New Jersey	-	-	2 (1%)	-
	Vermont	1 (1%)	-	1 (1%)	-
	Nebraska	-	-	1 (1%)	2.8B (32%)
	North Carolina	-	-	1 (1%)	-
	Michigan	-	-	1 (1%)	-
	Maryland	-	-	1 (1%)	-
	Kansas	-	-	1 (1%)	-
	Georgia	-	-	1 (1%)	-
	Colorado	-	-	1 (1%)	-
	West Virginia	-	-	1 (1%)	-
India	10 (13%)	-	17 (9%)	-
United Kingdom	6 (8%)	385M (29%)	13 (7%)	864M (10%)
China	5 (6%)	-	12 (7%)	-
Brazil	7 (9%)	-	11 (6%)	-
Germany	1 (1%)	-	10 (5%)	-
Canada	4 (5%)	-	5 (3%)	-
	Ontario	3 (4%)	-	4 (2%)	-
	Alberta	1 (1%)	-	1 (1%)	-
Spain	1 (1%)	-	4 (2%)	15M (< 1%)
Singapore	2 (3%)	425M (32%)	2 (1%)	425M (5%)
Mexico	2 (3%)	-	2 (1%)	-
Australia	1 (1%)	-	2 (1%)	-
Denmark	1 (1%)	-	2 (1%)	-
Sweden	1 (1%)	-	2 (1%)	-
United Arab Emirates	1 (1%)	-	2 (1%)	-
Netherlands	-	-	2 (1%)	-
France	1 (1%)	-	1 (1%)	-
Cayman Islands	1 (1%)	-	1 (1%)	-
Czech Republic	1 (1%)	-	1 (1%)	-
Indonesia	1 (1%)	-	1 (1%)	-
Slovenia	1 (1%)	-	1 (1%)	-
Uruguay	1 (1%)	-	1 (1%)	-
Bermuda	-	-	1 (1%)	800M (9%)
South Africa	-	-	1 (1%)	53M (1%)
Argentina	-	-	1 (1%)	-
Russia	-	-	1 (1%)	-
Turkey	-	-	1 (1%)	-
Domestic	29 (38%)	539M (40%)	85 (47%)	6.7B (76%)
Cross-border	48 (62%)	810M (60%)	97 (53%)	2.2B (24%)
Total	77	$1.3B	182	$8.9B

State/Country

Current #

Value

All-time #

Value

United States

29 (38%)

539M (40%)

85 (47%)

6.7B (76%)

California

5 (6%)

20 (11%)

New York

6 (8%)

220M (16%)

13 (7%)

1.9B (22%)

Texas

3 (4%)

6 (3%)

Massachusetts

3 (4%)

6 (3%)

Illinois

2 (3%)

6 (3%)

Connecticut

2 (3%)

6 (3%)

South Carolina

2 (3%)

4 (2%)

Tennessee

2 (3%)

319M (24%)

3 (2%)

319M (4%)

Arizona

2 (3%)

3 (2%)

Florida

3 (2%)

Washington

1 (1%)

2 (1%)

Virginia

2 (1%)

1.7B (19%)

New Jersey

2 (1%)

Vermont

1 (1%)

Nebraska

1 (1%)

2.8B (32%)

North Carolina

1 (1%)

Michigan

1 (1%)

Maryland

1 (1%)

Kansas

1 (1%)

Georgia

1 (1%)

Colorado

1 (1%)

West Virginia

1 (1%)

India

10 (13%)

17 (9%)

United Kingdom

6 (8%)

385M (29%)

13 (7%)

864M (10%)

China

5 (6%)

12 (7%)

Brazil

7 (9%)

11 (6%)

Germany

1 (1%)

10 (5%)

Canada

4 (5%)

5 (3%)

Ontario

3 (4%)

4 (2%)

Alberta

1 (1%)

Spain

1 (1%)

4 (2%)

15M (< 1%)

Singapore

2 (3%)

425M (32%)

2 (1%)

425M (5%)

Mexico

2 (3%)

2 (1%)

Australia

1 (1%)

2 (1%)

Denmark

1 (1%)

2 (1%)

Sweden

1 (1%)

2 (1%)

United Arab Emirates

1 (1%)

2 (1%)

Netherlands

2 (1%)

France

1 (1%)

Cayman Islands

1 (1%)

Czech Republic

1 (1%)

Indonesia

1 (1%)

Slovenia

1 (1%)

Uruguay

1 (1%)

Bermuda

1 (1%)

800M (9%)

South Africa

1 (1%)

53M (1%)

Argentina

1 (1%)

Russia

1 (1%)

Turkey

1 (1%)

Domestic

29 (38%)

539M (40%)

85 (47%)

6.7B (76%)

Cross-border

48 (62%)

810M (60%)

97 (53%)

2.2B (24%)

Total

$1.3B

182

$8.9B

Type	Current #	Value	All-time #	Value
Growth Capital	39 (51%)	-	82 (45%)	-
Stake Purchase	9 (12%)	744M (55%)	24 (13%)	744M (8%)
Venture	11 (14%)	-	21 (12%)	58M (1%)
Secondary Buyout	7 (9%)	385M (29%)	19 (10%)	385M (4%)
Buyout (LBO, MBO, MBI)	4 (5%)	220M (16%)	15 (8%)	595M (7%)
PIPE	6 (8%)	-	11 (6%)	1.4B (15%)
Divestiture	1 (1%)	-	5 (3%)	5.5B (62%)
Going Private	-	-	2 (1%)	265M (3%)
Acquisition Financing	-	-	1 (1%)	-
Joint Venture	-	-	1 (1%)	-
Merger	-	-	1 (1%)	-
Total	77	$1.3B	182	$8.9B

Type

Current #

Value

All-time #

Value

Growth Capital

39 (51%)

82 (45%)

Stake Purchase

9 (12%)

744M (55%)

24 (13%)

744M (8%)

Venture

11 (14%)

21 (12%)

58M (1%)

Secondary Buyout

7 (9%)

385M (29%)

19 (10%)

385M (4%)

Buyout (LBO, MBO, MBI)

4 (5%)

220M (16%)

15 (8%)

595M (7%)

PIPE

6 (8%)

11 (6%)

1.4B (15%)

Divestiture

1 (1%)

5 (3%)

5.5B (62%)

Going Private

2 (1%)

265M (3%)

Acquisition Financing

1 (1%)

Joint Venture

1 (1%)

Merger

1 (1%)

Total

$1.3B

182

$8.9B

Type	Total #	Value
Trade Sale - Public Company	27 (27%)	15.2B (61%)
IPO	27 (27%)	335M (1%)
Secondary Sale	23 (23%)	8.6B (34%)
Trade Sale	10 (10%)	881M (4%)
Stake Sale	7 (7%)	-
Merger	2 (2%)	-
Sold to Management	2 (2%)	-
Recapitalization	1 (1%)	-
Total	99	$25.1B

Type

Total #

Value

Trade Sale - Public Company

27 (27%)

15.2B (61%)

IPO

27 (27%)

335M (1%)

Secondary Sale

23 (23%)

8.6B (34%)

Trade Sale

10 (10%)

881M (4%)

Stake Sale

7 (7%)

Merger

2 (2%)

Sold to Management

2 (2%)

Recapitalization

1 (1%)

Total

$25.1B

Financial	Deals
Financo LLC	2
Barclays Investment Bank	1
Morgan Stanley	1

Financial

Deals

Financo LLC

Barclays Investment Bank

Morgan Stanley

Legal	Deals
Paul, Weiss, Rifkind, Wharton & Garrison LLP	17
Weil Gotshal & Manges LLP	5
AZB & Partners	2

Legal

Deals

Paul, Weiss, Rifkind, Wharton & Garrison LLP

Weil Gotshal & Manges LLP

AZB & Partners

buy	#	Total
> $1B	3	$5.8B
$100M to $1B	9	$2.9B
< $100M	3	$111M
TOTAL	$8.9B
Largest	Gavilon LLC $2.8B (2008-06-23)

buy

Total

> $1B

$5.8B

$100M to $1B

$2.9B

< $100M

$111M

TOTAL

$8.9B

Largest

Gavilon LLC
$2.8B (2008-06-23)

sell	#	Total
> $1B	11	$24.0B
$100M to $1B	18	$6.3B
< $100M	2	$46M
TOTAL	$30.4B
Largest	AppDynamics, Inc. $3.7B (2017-01-25)

sell

Total

> $1B

$24.0B

$100M to $1B

$6.3B

< $100M

$46M

TOTAL

$30.4B

Largest

AppDynamics, Inc.
$3.7B (2017-01-25)

		Deals
Acquired from
Investor(s)	12%	21 (12%)
Strategic(s)	4%	7 (4%)
Exited to
Investor(s)	27%	27 (27%)
Strategic(s)	39%	39 (39%)

Deals

Acquired from

Investor(s)

21 (12%)

Strategic(s)

7 (4%)

Exited to

Investor(s)

27 (27%)

Strategic(s)

39 (39%)

General Atlantic Mergers and Acquisitions Summary

Private Equity Profile

M&A Summary