GI Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, GI Partners has acquired 12 companies. It has also invested in 2 others.

GI Partners’ most common sectors for investment areinformation technology (28%) and internet software and services (11%) . The Firm’s most common investment types include secondary buyout (37%) and buyout (lbo, mbo, mbi) (31%). In total, GI Partners has invested in 23 US states and 5 different countries. Its largest (disclosed) acquisition occurred in 2021 when it acquired ORBCOMM for $1.1B.

In the last 3 years, GI Partners has exited 3 companies. The Firm’s most common exit type is secondary buyout (40%). GI Partners’ largest (disclosed) exit occurred in 2017 when it sold Wave Broadband for $2.4B.

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M&A Summary

  • M&A Total Activity78
    • M&A Buy Activity55
    • M&A Sell Activity23
  • Total Sectors Invested 14
  • Total Countries Invested 5
  • M&A Buy/Sell Connections 22
  • M&A Advisors 25

GI Partners

188 The Embarcadero, Suite 700,
San Francisco, California 94025
United States
(415) 688.4800
www.gipartners.com
info@gipartners.com

GI Partners (Global Innovation Partners) is a private equity firm focused on control oriented investments in asset-backed businesses and properties located throughout North America and Western Europe. GI looks to invest up to $1500 million in companies generating predictable, recurring cash flows; underperforming businesses with intrinsic value; and direct asset investments with operational complexity. Sectors of interest include energy, education, healthcare services, leisure, retail, logistics, media, entertainment, financial services, technology, and telecommunications. GI Partners was formed in 2001 and has offices in San Francisco, Greenwich, and Chicago.


Investment Criteria

Sectors of Interest: Beverages, Business Services, Communications, Consumer Services, Distribution, Education, Environmental, Financial Services, Healthcare Services, Information Technology, Insurance, Internet Software and Services, Leisure, Media, Real Estate, Restaurants, Retail, Software, Technology Hardware

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

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Eastern Europe, Scandinavia

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - 1,500
Enterprise Value - 2,000
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '18 '19 '20 '21 '22 '23 T
Buy (3.2/yr) # 39 2 7 4 1 2 55
vol $1.8B $1.1B $1.1B $4.0B
Sell (0.8/yr) # 19 1 1 2 - - 23
vol $3.6B $1.6B $5.2B
  78

Most Recent M&A

Company Date Value Type
Rise Broadband, Inc. 2023-02-02 - Buyout (LBO, MBO, MBI)
Englewood, Colorado · www.risebroadband.com
Atlas Intermediate Holdings LLC 2023-01-31 1.1B USD Going Private
Austin, Texas · www.oneatlas.com
GTY Technology Holdings, Inc. 2022-04-29 - Going Private
Boston, Massachusetts · www.gtytechnology.com
Generate Life Sciences Co. 2021-11-10 1.6B USD Add-on Acquisition
Los Angeles, California · www.generatelifesciences.com
Patriot Growth Partners LLC 2021-09-21 - Recapitalization
Ft. Washington, Pennsylvania · www.patriotgis.com
LightEdge Solutions, Inc. 2021-09-14 - Divestiture
Des Moines, Iowa · www.lightedge.com
Consilio LLC 2021-04-20 - Secondary Buyout
Washington, District of Columbia · www.consilio.com
Aras Corp. 2021-04-19 - Growth Capital
Andover, Massachusetts · www.aras.com
ORBCOMM, Inc. 2021-04-08 1.1B USD Going Private
Rochelle Park, New Jersey · www.orbcomm.com
Logibec Inc. 2020-12-02 - Secondary Buyout
Montreal, Quebec · www.logibec.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
MRI Software LLC 2020-02-10 Springboard Research Ltd. 2022-10-03 18
Solon, Ohio · www.mrisoftware.com Milton Keynes, United Kingdom · www.spring-board.info
MRI Software LLC 2020-02-10 Apartment Data Services, Inc. 2022-08-04 17
Solon, Ohio · www.mrisoftware.com Houston, Texas · www.apartmentdata.com
Clarity Telecom LLC 2020-10-19 Vexus Fiber 2022-01-27 1
Sioux Falls, South Dakota · www.mybluepeak.com Lubbock, Texas · www.vexusfiber.com
MRI Software LLC 2020-02-10 eSight Energy Ltd. 2021-11-02 16
Solon, Ohio · www.mrisoftware.com Cambridge, United Kingdom · www.esightenergy.com
Netsmart Technologies, Inc. 2016-03-23 SimpleLTC, Inc. 2021-06-30 9
Overland Park, Kansas · www.ntst.com Richardson, Texas · www.simpleltc.com
Sectigo Ltd. 2020-09-16 SiteLock LLC 2021-05-04 3
Roseland, New Jersey · www.sectigo.com Scottsdale, Arizona · www.sitelock.com
MRI Software LLC 2020-02-10 Trimble Inc. - Manhattan Software 2021-02-17 15
Solon, Ohio · www.mrisoftware.com Sunnyvale, California
MRI Software LLC 2020-02-10 AMTdirect LLC 2021-01-27 14
Solon, Ohio · www.mrisoftware.com Cornelius, North Carolina · www.amtdirect.com
MRI Software LLC 2020-02-10 CoreLogic, Inc. - Jenark 2020-10-29 13
Solon, Ohio · www.mrisoftware.com Irvine, California
Doxim, Inc. 2018-03-01 Pinnacle Data Systems LLC 2020-10-14 6
Markham, Ontario · www.doxim.com Suwanee, Georgia · www.pinnacledatasystems.com

M&A by Sector

Sector Current # Value All-time # Value
Information Technology 9 (36%) - 15 (27%) -
Real Estate - - 6 (11%) 127M (3%)
Internet Software and Services 4 (16%) - 6 (11%) -
Communications 4 (16%) 1.1B (51%) 5 (9%) 1.1B (28%)
Healthcare Services - - 5 (9%) 43M (1%)
Business Services 2 (8%) 1.1B (49%) 4 (7%) 1.1B (26%)
Software 2 (8%) - 4 (7%) -
Financial Services - - 3 (5%) 1.0B (25%)
Beverages 1 (4%) - 2 (4%) -
Leisure - - 1 (2%) 677M (17%)
Consumer Services 1 (4%) - 1 (2%) -
Environmental 1 (4%) - 1 (2%) -
Insurance 1 (4%) - 1 (2%) -
Life Science - - 1 (2%) -
Total 25 $2.2B 55 $4.0B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 24 (96%) 2.2B (100%) 44 (80%) 3.2B (79%)
  California 1 (4%) - 7 (13%) -
  Massachusetts 3 (12%) - 4 (7%) -
  Pennsylvania 2 (8%) - 3 (5%) -
  Texas 1 (4%) 1.1B (49%) 3 (5%) 1.1B (26%)
  New York 1 (4%) - 3 (5%) 1.0B (25%)
  Ohio 1 (4%) - 3 (5%) -
  Colorado 1 (4%) - 3 (5%) -
  New Jersey 2 (8%) 1.1B (51%) 2 (4%) 1.1B (28%)
  Florida 2 (8%) - 2 (4%) -
  Tennessee 1 (4%) - 1 (2%) -
  South Dakota 1 (4%) - 1 (2%) -
  North Carolina 1 (4%) - 1 (2%) -
  New Hampshire 1 (4%) - 1 (2%) -
  Kansas 1 (4%) - 1 (2%) -
  Iowa 1 (4%) - 1 (2%) -
  Hawaii 1 (4%) - 1 (2%) -
  Georgia 1 (4%) - 1 (2%) -
  Connecticut 1 (4%) - 1 (2%) -
  Alabama 1 (4%) - 1 (2%) -
  Washington - - 1 (2%) -
  Virginia - - 1 (2%) -
  District of Columbia - - 1 (2%) -
  Delaware - - 1 (2%) -
United Kingdom - - 6 (11%) 848M (21%)
Canada 1 (4%) - 3 (5%) -
  Quebec - - 2 (4%) -
  Ontario 1 (4%) - 1 (2%) -
Germany - - 1 (2%) -
Netherlands - - 1 (2%) -
Domestic 24 (96%) 2.2B (100%) 44 (80%) 3.2B (79%)
Cross-border 1 (4%) - 11 (20%) 848M (21%)
Total 25 $2.2B 55 $4.0B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 12 (48%) - 20 (36%) 720M (18%)
Buyout (LBO, MBO, MBI) 2 (8%) - 17 (31%) 1.1B (28%)
Recapitalization 4 (16%) - 5 (9%) -
Growth Capital 3 (12%) - 4 (7%) -
Going Private 3 (12%) 2.2B (100%) 3 (5%) 2.2B (54%)
Divestiture 1 (4%) - 2 (4%) -
Stake Purchase - - 2 (4%) -
PIPE - - 1 (2%) -
Venture - - 1 (2%) -
Total 25 $2.2B 55 $4.0B

Exits by Deal Type

Type Total # Value
Secondary Sale 10 (43%) -
Trade Sale - Public Company 5 (22%) 2.8B (54%)
IPO 5 (22%) -
Merger 2 (9%) -
Trade Sale 1 (4%) 2.4B (46%)
Total 23 $5.2B

Top M&A Advisors

Financial Deals
Evercore Group LLC
 3
UBS Investment Bank
 2
Barclays Investment Bank
 1
Legal Deals
Paul Hastings LLP
 8
Kirkland & Ellis LLP
 7
Ropes & Gray LLP
 4

Deal Values

buy # Total
> $1B 3 $3.2B
$100M to $1B 2 $805M
< $100M 1 $43M
TOTAL $4.0B
Largest ORBCOMM, Inc.
$1.1B (2021-04-08)
sell # Total
> $1B 3 $5.2B
TOTAL $5.2B
Largest Wave Broadband LLC
$2.4B (2017-05-22)

M&A Connections

Deals
Acquired from
Investor(s)
44%
24 (44%)
Strategic(s)
5%
3 (5%)
Exited to
Investor(s)
39%
9 (39%)
Strategic(s)
35%
8 (35%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

16.0B USD

Established

2001

Specialist/Generalist

Generalist

Leadership

Rick Magnuson

Founder & Executive Managing Director

Achi Yaffe

Managing Director

Brendan Scollans

Managing Director

Dave Kreter

Managing Director

David Mace

Managing Director

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